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W&T Offshore, Inc. (WTI)

  • Thu, Mar. 26, 5:39 PM
    • Top gainers, as of 5:15 p.m.: CMCM +12.8%. OXM +9.2%. SFY +4.9%. SGMS +4.3%. RICE +3.9%.
    • Top losers, as of 5:15 p.m.: WTI -6.6%. GME -5.7%. RH -5.1%. SGNT -3.9%. SSE -3.6%.
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  • Mon, Jan. 5, 5:35 PM
    • Top gainers, as of 5:15 p.m.: NERV +87.5%. ANTH +11.0%. WTI +10.2%. GST +9.0%. RICE +8.8%.
    • Top losers, as of 5:15 p.m.: CYBX -8.1%. CERS -4.9%. ECR -3.1%. JNUG -2.7%. AU -2.5%.
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  • Oct. 9, 2014, 12:46 PM
  • Sep. 25, 2014, 12:15 PM
    • W&T Offshore (WTI -2.7%) is upgraded to Buy from Accumulate with an $18 price target at KLR Group, which also sees a potential 45% upside to its target.
    • KLR forecasts WTI to grow liquid volumes by 30% in 2016, sparked by the Big Bend and Dantzler prospects; the Big Bend well is projected to begin production in late 2015.
    • The firm sees future catalysts ahead with WTI’s new oil well at its Mahogany field, where production should begin this Q4.
    • Shares aren't being helped by the upgrade, as energy stocks are faring poorly in today's broad market selloff.
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  • Mar. 7, 2014, 8:58 AM
    • W&T Offshore (WTI) -5.6% premarket after Q4 earnings swung to a loss despite rising production, due to deferred debt costs, an unplanned workover and higher than expected depreciation, depletion and amortization.
    • The unplanned operation on the A-12 well at the offshore Mahogany field in Ship Shoal Block 349 to resolve "a casing pressure issue" resulted in additional Q4 cost of $13.6M.
    • WTI produced an average of 56.1K boe/day during Q4, a 14.4% Y/Y increase; 35% was oil and 54% was natural gas.
    • Sees Q1 total production of 4.3M-4.7M boe; sees FY 2014 total production of 17.1M-18.9M boe.
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  • Jan. 14, 2014, 10:56 AM
    • W&T Offshore (WTI+5.2% after reporting progress with U.S. regulators concerning certain aspects of its operations on federal oil and gas leases in the Gulf of Mexico.
    • WTI says it has met with the EPA's suspension and debarment official, and discussions are continuing to seek to remove the suspension from participation in federal contracts.
    • The suspension is directed toward the parent company but does not affect or limit its operations on federal oil and gas leases it presently holds; it also does not affect its W&T Energy VI subsidiary, a significant leaseholder in the Gulf of Mexico.
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  • Nov. 29, 2013, 11:31 AM
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  • Nov. 29, 2013, 11:20 AM
    • W&T Offshore (WTI -10.1%) said Wednesday it is facing suspension from federal contracts due to pollution issues from 2009.
    • The EPA is proposing a three-year debarment from participation in future federal contracts, among other federal benefits; WTI says the actions are undeserved and do not reflect its recent record of responsibility and compliance in its Gulf of Mexico operations.
    • The news prompts CapitalOne to downgrade shares to Neutral from Add.
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  • Oct. 17, 2013, 4:51 PM
    • Callon Petroleum (CPE) agrees to sell its interests in the Medusa field and Medusa Spar and substantially all of its Gulf of Mexico shelf assets to W&T Offshore (WTI) for $100M, as CPE completes the shift of its focus to the Permian Basin.
    • Based on current drilling plans, CPE expects to end 2013 producing 3,500 boe from its Permian Basin position, with a solid balance sheet to pursue acquisitions and further accelerate drilling activity.
    • CPE +2.6% AH.
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  • Sep. 30, 2013, 11:57 AM
    • W&T Offshore (WTI -2.4%) raises its 2013 capital budget to $550M for increased deepwater activity, completion costs on successful exploration wells and additional onshore drilling at the Yellow Rose Field.
    • As part of increased deepwater activity, WTI acquires a 20% working interest in the Dantzler prospect in the Gulf of Mexico, operated by Noble Energy (NBL -0.5%), which has estimated a prospect resource potential of 50M-220M boe.
    • WTI says the increased budget doesn't include potential acquisitions.
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  • Jul. 25, 2013, 11:57 AM
    W&T Offshore (WTI +3.6%) makes a subsalt discovery in a deep shelf exploratory target beneath its Mahogany field, and is producing at an initial rate of ~3K bbl/day of oil 5.6M cu. ft./day of gas for a total of ~4K boe/day. CEO Tracy Krohn cites "a very high quality oil sand in the T-Sand reservoir with great flow characteristics."
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  • Nov. 26, 2012, 12:54 PM
    Natural gas explorers are taking a beating amid expectations for warmer weather across much of the U.S. over the next week or two that could lead to more additions to gas stockpiles. McMoRan Exploration (MMR -12.9%) leads a broad descent among nat gas firms (UNG -3.7%): PXP -3.9%, WTI -2.8%, EXXI -4.2%, SGY -2.4%.
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  • Jul. 31, 2012, 2:19 PM
    W&T Offshore (WTI +14.4%) could spend up to $3B on acquisitions by the end of the year as it is seeing many more assets up for sale than usual, CEO Tracy Krohn says a day after the oil and natural gas producer posted a higher-than-expected Q2 profit on lower costs. WTI says its revolving bank credit facility of $650M is largely undrawn and can be used for acquisitions.
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  • May 9, 2012, 12:15 PM
    W&T Offshore (WTI -10%) shares slide after reporting Q1 earnings and revenues that trailed analyst estimates for the first time in 10 quarters on lower natural gas prices and higher costs. WTI, one of the few mid-cap explorers focusing on the Gulf of Mexico, backed its capital budget of $425M.
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  • Apr. 11, 2012, 12:03 PM
    W&T Offshore (WTI +2.4%) ticks up on the back of an upgrade to Buy at Pritchard. The firm says the oil and gas driller is poised to gain on the strength of its onshore and offshore asset bases. The company is focused primarily in the Gulf of Mexico area, where it has developed significant technical expertise in areas yielding high production rates.
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  • Feb. 24, 2012, 9:59 AM
    A big earnings beat from W&T Offshore (WTI +6.7%) with its Q4 report helps shares take flight to six-month highs. The energy concern also doubled its quarterly dividend payout to $0.08 per share.
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Company Description
W&T Offshore Inc is anindependentoil and natural gas producer. The Company is engaged in the exploration, development, and acquisition of oil and natural gas properties in the Gulf of Mexico andthe Permian Basin in West Texas.