Key Developments: W&T Offshore Inc (WTI)

WTI on New York Consolidated

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12 Feb 2016
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Latest Key Developments (Source: Significant Developments)

W&T Offshore Inc announces sale of yellow rose field in the permian basin of west Texas
Tuesday, 1 Sep 2015 07:00am EDT 

W&T Offshore Inc:Announces sale of its yellow rose field in the permian basin of west Texas.Gross pre-tax proceeds from the transaction are expected to be approximately $376.1 million.Says W&t also reserved a one to four percent sliding scale overriding royalty interest in the field.Transaction is expected to close during the third quarter of 2015, with an effective date of January 1, 2015.Says will use the proceeds from the transaction to pay down the outstanding balance under secured revolving credit facility.W&t's interest in yellow rose field includes about 25,800 net acres in andrews, martin, gaines, dawson counties in west Texas.For the month of July 2015, net production from the yellow rose field averaged approximately 3,000 boepd.Entered agreement with Ajax resources for sale of all of interest in its yellow rose field in permian basin.  Full Article

W&T Offshore Inc gives Q3 2015 production guidance; reaffirms FY 2015 production guidance
Wednesday, 5 Aug 2015 06:50pm EDT 

W&T Offshore Inc:Expects Q3 2015 production in the range of 23.1 - 25.5 Bcfe.Expects FY 2015 production in the range of 100.0 - 110.2 Bcfe.  Full Article

W&T Offshore Inc gives Q2 2015 production guidance; reaffirms FY 2015 production guidance
Wednesday, 6 May 2015 07:00pm EDT 

W&T Offshore Inc:Expects Q2 2015 production in the range of 23.1 - 25.5 Bcfe.Expects FY 2015 production in the range of 100.0 - 110.2 Bcfe.  Full Article

W&T Offshore Inc announces pricing of $300 million term loan financing
Tuesday, 5 May 2015 02:23pm EDT 

W&T Offshore Inc:Says it has successfully completed the pricing and marketing of a $300 million five-year second-lien term loan.The term loan is expected to be made subject to a 1.0 pct discount to principal bearing interest at an annual rate of 9.0 pct.It is expected that an entity controlled by Tracy W. Krohn, W&T Offshore's Chairman and Chief Executive Officer, will participate in the term loan for a $5.0 million principal commitment on the same terms as other lenders.Net borrowings under the term loan will be used to repay a portion of outstanding borrowings under the company's existing revolving credit facility.Upon the issuance of the term loan, the company's borrowing base under its revolving credit facility will be reduced from $600.0 million to $500.0 million.  Full Article

W&T Offshore Inc suspends regular quarterly dividend
Wednesday, 4 Mar 2015 06:04pm EST 

W&T Offshore Inc:Says that in light of current market conditions, the board has elected to suspend regular quarterly dividend.  Full Article

W&T Offshore Inc gives Q1, FY 2015 production guidance
Wednesday, 4 Mar 2015 06:04pm EST 

W&T Offshore Inc:Expects Q1 2015 production in the range of 25.5 - 28.2 Bcfe.Expects FY 2015 production in the range of 100.0 -110.2 Bcfe.  Full Article

W&T Offshore Inc declares quarterly cash dividend
Thursday, 6 Nov 2014 07:00am EST 

W&T Offshore Inc:Declares regular quarterly cash dividend of $0.10 per share.Payable on Dec. 3.Record date on Nov. 18.  Full Article

W&T Offshore Inc gives Q4 2014 production guidance; raises FY 2014 production guidance
Wednesday, 5 Nov 2014 04:43pm EST 

W&T Offshore Inc:Expects Q4 2014 production guidance to be in the range of 4.3 – 4.7 MMBoe.Expects FY 2014 production guidance to be in the range of 17.4 – 17.7 MMBoe (prior guidance 16.5 - 17.0 MMBoe).  Full Article

W&T Offshore Inc acquires remaining interest in Fairway Field and Yellowhammer Gas Plant
Monday, 22 Sep 2014 07:00am EDT 

W&T Offshore Inc:Acquires a 35.7 pct working interest in the Fairway Field and the associated Yellowhammer gas processing plant.With the completion of this acquisition, W&T Offshore now holds a 100 pct working interest in both assets.The adjusted purchase price at closing was $18.2 mln, plus assumption of asset retirement obligations associated with these properties.  Full Article

W&T Offshore Inc declares regular quarterly cash dividend
Thursday, 7 Aug 2014 07:00am EDT 

W&T Offshore Inc:Declared regular quarterly cash dividend of $0.10 per share.Dividend will be payable on Sept. 12 to shareholders of record on Aug. 22.  Full Article

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