W&T Offshore Updates Regulatory Status

                    W&T Offshore Updates Regulatory Status

PR Newswire

HOUSTON, Jan. 14, 2014

HOUSTON, Jan. 14, 2014 /PRNewswire/ --W&T Offshore, Inc. (NYSE: WTI) today
provides updates on the progress with U.S. Government regulators concerning
certain aspects of its operations on federal oil and gas leases in the Gulf of
Mexico. As previously disclosed, on November 19, 2013, W&T 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 Official (the "EPA SDO"). The suspension and proposed debarment is
directed toward the parent company, W&T Offshore, Inc., and suspends it from
participation in future federal contracts, including future federal oil and
gas leases, but does not affect or limit its operations on federal oil and gas
leases it presently holds. In addition, the suspension and debarment does not
affect or limit W&T Energy VI, LLC, an operating subsidiary of W&T and a
significant leaseholder in the Gulf of Mexico.

W&T has filed a petition and related documents with the EPA SDO, which we
believe demonstrates that W&T is a responsible operator in the Gulf of Mexico
and urges that the debarment be immediately lifted as not necessary to protect
the Government's interests. W&T has met with the EPA SDO and discussions are
continuing to seek to remove the suspension in a cooperative fashion. The
timing and ultimate result of these efforts, however, cannot be predicted at
this time but we are hopeful that such matters can be resolved in the near
term.

Tracy W. Krohn, Chief Executive Officer and Chairman, stated, "W&T takes its
responsibility to protect the environment and the safety of its employees and
contractors very seriously. Since the incidents in 2009 that resulted in this
Notice of Suspension and Proposed Debarment, we have worked diligently to
enhance our processes and procedures to ensure environmental and regulatory
compliance at all levels of the Company. These 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 are certainly not representative of our
operating processes or environmental record. We will continue to work with
the EPA SDO to further demonstrate our dedication to compliance and prudent
operations in the Gulf of Mexico."

W&T has had continuing discussions with representatives of the United States
Department of Interior Bureau of Ocean Energy Management ("BOEM") regarding
BOEM's previously disclosed decision that W&T no longer qualifies for a waiver
of certain supplemental bonding requirements for potential offshore
decommissioning (including plugging and abandonment) liabilities. We are also
discussing potential additional supplemental bonding requirements that may be
required to be met in the event that the BOEM decision regarding W&T's
supplemental bonding waiver is not modified or reversed. While these
discussions remain ongoing, in order to preserve its rights, the Company
recently filed a Petition for Stay Pending Appeal and Request for Interim
Relief with the U.S. Department of Interior Board of Land Appeals. The
petition seeks a stay of any supplemental bonding requirements pending the
appeal and to reverse BOEM's revocation of W&T's waiver of supplemental
bonding requirements. The Company continues to believe that it qualifies for
a supplemental bonding waiver. We intend to continue to work with the BOEM
staff to resolve this matter. If resolving this matter ultimately involves
additional bonding, the Company believes that such bonding availability exists
in the market place for a company with W&T's financial strength.

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 September 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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