W&T Offshore Declares Regular Quarterly Cash Dividend
HOUSTON, May 7, 2013
HOUSTON, May 7, 2013 /PRNewswire/ --W&T Offshore, Inc. (NYSE: WTI) announced
today that its 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.
Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are
pleased to be able to increase our regular quarterly dividend by 12.5% and
continue to reward our shareholders for their ongoing support. We began paying
a $0.02 dividend in January 2005 shortly after going public and have been able
to grow that amount over the years. This recent increase reflects our
continued confidence in W&T Offshore's ability to continue to generate strong
About W&T Offshore
W&T Offshore, Inc. is an independent oil and natural gas producer with
operations offshore in the Gulf of Mexico and onshore in both the Permian
Basin of West Texas and in East Texas. We have grown through acquisitions,
exploration and development and currently hold working interests in
approximately 72 offshore fields in federal and state waters (69 producing and
three fields capable of producing). W&T currently has under lease over 1.4
million gross acres including over 710,000 gross acres on the Gulf of Mexico
Shelf, over 480,000 gross acres in the deepwater and over 220,000 gross acres
onshore in Texas. A substantial majority of our daily production is derived
from wells we operate offshore. For more information on W&T Offshore, please
visit our website at www.wtoffshore.com.
CONTACT: Mark Brewer Danny Gibbons
Investor Relations SVP & CFO
SOURCE W&T Offshore, Inc.
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