Key Developments: W&T Offshore Inc (WTI)
14.80USD
24 May 2013
$-0.07 (-0.47%)
$14.87
$14.72
$15.03
$14.62
514,854
761,774
$21.36
$10.68
Latest Key Developments (Source: Significant Developments)
W&T Offshore Inc Issues Q2 2013 Production Guidance; Reaffirms FY 2013 Production Guidance
W&T Offshore Inc announced that for second quarter of 2013 it expects production in a range of 4.0 MMBoe to 4.5 MMBoe. The Company also announced that fiscal 2013 production guidance remains unchanged from guidance provided on February 12, 2013 and is in a range of 17.0 MMBoe to 18.7 MMBoe. Full Article
W&T Offshore Inc Declares Regular Quarterly Cash Dividend
W&T Offshore Inc announced that Board of Directors increased the regular cash quarterly dividend from $0.08 per share to $0.09 per share, payable to the holders of the Corporation's common shares. The dividend will be payable on June 4, 2013, to the shareholders of record on May 24, 2013. Full Article
W&T Offshore Inc Declares Regular Quarterly Cash Dividend
W&T Offshore Inc announced that its Board of Directors on February 26, 2013 declared a regular quarterly cash dividend of $0.08 per share, payable on March 29, 2013, to the shareholders of record on March 15, 2013. Full Article
Branham Law, LLPInvestigating W&T Offshore Inc Over Alleged Violations Of Management Improprieties And Possible Fiduciary Duty Breaches
Branham Law, LLP announced that it is investigating W&T Offshore, Inc. (W&T or the Company) and its Board of Directors as a result of the Company`s apparent failure to comply with federal and state regulations, including, but not limited to, EPA violations surrounding possible illegal oil discharges into the Gulf of Mexico. A federal judge recently unsealed a whistleblower complaint that alleges the Company has been falsifying reports and dumping oil. Full Article
W&T Offshore Inc Issues Q1, FY 2013 Production Guidance
W&T Offshore Inc announced that for first quarter of 2013 it expects production in a range of 4.3 MMBoe to 4.8 MMBoe and for fiscal 2013 production in a range of 17.0 MMBoe to 18.7 MMBoe. Full Article
W&T Offshore Inc Announces Second Special Cash Dividend In 2012
W&T Offshore Inc announced that its Board of Directors declared a special cash dividend of $0.32 per share, payable to the holders of the Corporation's common shares. The special dividend will be payable on December 28, 2012 to shareholders of record on December 24, 2012. This is the second special cash dividend declared for 2012 and brings the total cash dividends declared for 2012 to $1.11 per share, an increase of $0.32 per share over the $0.79 per share declared and paid in 2011. Full Article
W&T Offshore Inc Revises FY 2012 Production Guidance
W&T Offshore Inc announced that for fiscal 2012, it expects production rate to be approximately 50,000 Boe per day, or 300 MMcfe per day. Full Article
W&T Offshore Inc Announces Increase In Borrowing Base Under Revolving Credit Facility To $725 Million
W&T Offshore Inc announced that it has received an increase in its borrowing base from $575 million to $725 million under its existing revolving credit facility. During a semi-annual redetermination, the Company's lending bank group was expanded from 17 to 20 banks. Availability under the revolving credit facility will be subject to redetermination at the next semi-annual review in the spring of 2013, calculated by the lenders based on their evaluation of the Company's proved reserves using their own internal criteria. Full Article
W&T Offshore Inc Declares Regular Quarterly Cash Dividend And Special Cash Dividend On Common Stock
W&T Offshore Inc announced that Board of Directors on October 30, 2012 declared a regular quarterly cash dividend of $0.08 per share, payable to the holders of the Corporation's common shares. In addition, the Board of Directors declared an additional special cash dividend of $0.47 per share, payable to the holders of the Corporation's common shares. The regular $0.08 per share cash dividend and special $0.47 per share cash dividend will be payable on December 3, 2012 to shareholders of record on November 16, 2012. Full Article
W&T Offshore Inc Upsizes and Prices $300 Million of 8.5% Senior Notes
W&T Offshore Inc announced that it priced $300 million aggregate principal amount of 8.5% senior notes due 2019 (the Notes), which was upsized from the previously announced $250 million offering size. The Notes will be sold in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act). The Notes will be issued under an indenture pursuant to which W&T Offshore initially issued $600 million principal amount of its 8.5% senior notes due 2019 on June 10, 2011 (the Existing Notes). The Notes will be issued at 106.0% of par value, providing a yield to worst of 6.963%, and will mature on June 15, 2019. They will be treated as a single series with, and will have the same terms as, the Existing Notes, but will not be fungible with the Existing Notes for trading purposes unless and until they are exchanged for registered notes. The offering of the Notes is expected to close on October 24, 2012, subject to customary closing conditions. W&T Offshore intends to apply the net proceeds of this private offering to repay all of the outstanding indebtedness under its revolving credit facility, a portion of which was recently incurred to partially fund its recently completed acquisition of exploration and production properties in the Gulf of Mexico from Newfield Exploration Company and its subsidiary, Newfield Exploration Gulf Coast LLC, and for general corporate purposes. Full Article
Sheen near W&T Offshore platform a natural seep -US Coast Guard
HOUSTON, May 3 - A sheen that appeared on Thursday near a W&T Offshore Inc shallow-water platform off the coast of Texas was a natural seep rather than a leak from the facility, the U.S. Coast Guard said.
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