W&T Offshore Discusses Recent Regulatory Notices

               W&T Offshore Discusses Recent Regulatory Notices

PR Newswire

HOUSTON, Nov. 27, 2013

HOUSTON, Nov. 27, 2013 /PRNewswire/ --W&T Offshore, Inc. (NYSE: WTI)
announced today that it has recently received notices from U.S. Government
regulators that could affect certain aspects of its operations on Federal oil
and gas leases in the Gulf of Mexico. The Company believes these regulatory
actions are undeserved and do not reflect the degree of financial and
operational responsibility and current record of compliance that the Company
has demonstrated in its Gulf of Mexico operations. The Company is taking
actions necessary to attempt to quickly resolve these matters.

On November 19, 2013, the Company received a Notice of Suspension and Proposed
Debarment and a Notice of Clean Water Act Listing from the United States
Environmental Protection Agency's Suspension and Debarment Division (the "EPA
SDD"). The first Notice suspends the Company, and proposes a three year
debarment, from participation in future federal contracts, including future
federal oil and gas leases, and assistance activities and renders the Company
ineligible to receive any federal contracts or approved subcontracts or to act
as an agent or representative on behalf of another in such transaction, or
receive certain federal benefits. The second Notice provides a narrower
prohibition on federal contracts or benefits. The Notices stemmed from the
Company's previously disclosed plea agreement and corporate conviction on two
criminal counts under the Clean Water Act for events which occurred in 2009
relating to the Company's Ewing Banks Area Block 910 platform, including a
contractor's alteration of monthly produced water discharge samples and a
failure to report a discharge of a small amount of oil from the platform. The
Company has commenced discussions with the EPA SDD staff and intends to make
filings to contest the limitations in both Notices and seek a resolution to
remove the suspension in a cooperative fashion as soon as practicable. The
timing and ultimate result of these efforts, however, cannot be predicted at
this time.

The Company does not believe that the regulatory requirements for suspension
and debarment exist. The Company has corrected the issues leading to the 2009
offenses and has been and remains a responsible operator. Suspension is not
necessary to protect the Government's business interests. The Company believes
the suspension is inconsistent with the U.S. Department of Justice's
acknowledgements in the Company's plea agreement with respect to (i) the
Company's timely cooperation with the government's investigation and
acceptance of responsibility for the violations charged; (ii) the Company's
efforts since 2009 to ensure environmental and regulatory compliance at all
levels of management and employment; and (iii) the Company's efforts since
2009 to invest in its infrastructure and maintenance of its equipment. The EPA
action also fails to recognize the Company's compliance with the plea
agreement to demonstrate that the conditions which gave rise to the violations
have been corrected and that the Company is a responsible operator acting
under a comprehensive environmental and safety compliance program.

The Company also recently received a letter from the United States Department
of Interior Bureau of Ocean Energy Management ("BOEM") informing the Company
that it no longer qualifies for a waiver of certain supplemental bonding
requirements for potential offshore decommissioning (including plugging and
abandonment) liabilities. The letter notifies the Company that it must provide
supplemental bonding on its offshore leases, rights of way and easements that
require additional supplemental bonding. The Company believes this action is
without basis and inconsistent with regulatory requirements and recent
discussions with BOEM staff. The Company intends to appeal the BOEM action and
will continue to work with BOEM staff to resolve the matter. If resolving this
matter ultimately involves additional bonding, it will result in increased
costs of conducting our offshore business and operations.

Tracy W. Krohn, Chief Executive Officer and Chairman, stated "The suspension
and proposed debarment is based upon five year old incidents on a single
production platform out of more than 100 platforms and facilities that we
operate in the Gulf of Mexico. Since then, with the input of the Government in
settling those incidents, we have enhanced our environmental and safety
compliance program which remains subject to close scrutiny. On bonding, we can
demonstrate our financial responsibility with a strong balance sheet and
financial condition. We will be taking every opportunity with regulators to
make these points to reach a workable solution."

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 67 offshore fields in federal and state waters (60 producing and
seven fields capable of producing). W&T currently has under lease
approximately 1.3 million gross acres, including approximately 0.6 million
gross acres on the Gulf of Mexico Shelf, approximately 0.5 million gross acres
in the deepwater and approximately 0.2 million 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.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements reflect our current
views with respect to future events, based on what we believe are reasonable
assumptions. No assurance can be given, however, that these events will occur.
These statements are subject to risks and uncertainties that could cause
actual results to differ materially including, among other things, market
conditions, oil and gas price volatility, uncertainties inherent in oil and
gas production operations and estimating reserves, unexpected future capital
expenditures, competition, the success of our risk management activities,
governmental regulations, uncertainties and other factors discussed in W&T
Offshore's Annual Report on Form 10-K for the year ended December 31, 2012 and
on Form 10-Q for the quarter ended June 30, 2013 found at www.sec.gov or at
our website at www.wtoffshore.com under the Investor Relations section.

CONTACT: Mark Brewer                      Danny Gibbons
         Investor Relations               SVP & CFO
         investorrelations@wtoffshore.com investorrelations@wtoffshore.com
         713-297-8024                     713-624-7326

SOURCE W&T Offshore, Inc.

Website: http://www.wtoffshore.com
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