Last $5.82 USD
Change Today -0.02 / -0.34%
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w&t offshore inc (WTI) Key Developments

W&T Offshore Inc. Presents at Jefferies 2014 Global Energy Conference, Nov-11-2014 11:00 AM

W&T Offshore Inc. Presents at Jefferies 2014 Global Energy Conference, Nov-11-2014 11:00 AM. Venue: St Regis Hotel, 1919 Briar Oaks Lane, Houston, Texas, United States. Speakers: Tracy W. Krohn, Co-Founder, Chairman, Chief Executive Officer and Member of Nominating & Corporate Governance Committee.

W&T Offshore Declares Regular Quarterly Cash Dividend, Payable on December 3, 2014

W&T Offshore Inc. announced that its Board of Directors on November 5, 2014 declared a regular quarterly cash dividend of $0.10 per share, payable to the holders of the Company's common shares. The dividend will be payable on December 3, 2014, to the shareholders of record on November 18, 2014.

W&T Offshore Seeks Acquisitions

W&T Offshore Inc. (NYSE:WTI) will consider acquisitions. Tracy Krohn, Chairman and Chief Executive Officer said, "Acquisitions, like they always have, continue to make contributions to reserve and production growth year in and year out, and the Neptune and Fairway acquisitions completed so far this year are no exception. We remain active in the acquisition market and we believe that the lower price environment will lend itself to more opportunities."

W&T Offshore Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Production Results for the Third Quarter Ended September 30, 2014; Provides Production Guidance for the Fourth Quarter of 2014 and Revises Production Guidance for the Full Year of 2014

W&T Offshore Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s revenues were $234,521,000 compared to $244,555,000 for the same period of last year. Operating income was $20,983,000 compared to $31,965,000 for the same period of last year. Income before income tax expense was $1,588,000 compared to loss before income tax expense of $22,227,000 for the same period of last year. Net income was $684,000 compared to $14,194,000 for the same period of last year.Net income per basic and diluted earnings per common share was $0.01 compared to loss of $0.19 for the same period of last year. Net cash provided by operating activities was $153,895,000 compared to $178,471,000 for the same period of last year. Capital expenditures were $189,425,000 compared to $123,879,000 for the same period of last year. EBITDA was $149,653,000 compared to $145,168,000 for the same period of last year. Adjusted EBITDA was $135,872,000 compared to $151,762,000 for the same period of last year. Net loss excluding special items was $8,274,000 compared to $18,480,000 for the same period of last year. Net loss per basic and diluted earnings per common share, excluding special items was $0.11 compared to net income per basic and diluted earnings per common share was $0.24 for the same period of last year. For the nine months, the company’s revenues were $752,031,000 compared to $739,160,000 for the same period of last year. Operating income was $92,611,000 compared to $146,111,000 for the same period of last year. Income before income tax expense was $34,535,000 compared to $98,566,000 for the same period of last year. Net income was $21,710,000 compared to $63,208,000 for the same period of last year. Net income per basic and diluted earnings per common share was $0.28 compared to $0.83 for the same period of last year. Net cash provided by operating activities was $424,945,000 compared to $475,833,000 for the same period of last year. Capital expenditures were $455,468,000 compared to $423,092,000 for the same period of last year. EBITDA was $472,827,000 compared to $468,090,000 for the same period of last year. Adjusted EBITDA was $479,617,000 compared to $465,211,000 for the same period of last year. Net income excluding special items was $26,123,000 compared to $61,337,000 for the same period of last year. Net income per basic and diluted earnings per common share, excluding special items was $0.34 compared to $0.81 for the same period of last year. The company's production volumes averaged 46.7 MBoe per day against 45.7 MBoe per day a year ago. Production for the third quarter of 2014 exceeded initial expectations and averaged 46,700 barrels of oil equivalent (Boe) per day, of which 53% was oil and liquids. For the fourth quarter of 2014, the company expects Oil and NGLs in the range of 2.2 MMBbls to 2.5 MMBbls; Natural Gas in the range of 12.3 Bcf to 13.5 Bcf. For the full year of 2014, the company revised Oil and NGLs in the range of 9.1 MMBbls to 9.3 MMBbls compared to Oil and NGLs in the range of 8.7 MMBbls to 8.9 MMBbls expected previously; Natural Gas in the range of 49.4 Bcf to 50.3 Bcf compared to 47.0 Bcf to 48.4 Bcf expected previously. Income tax rate is 37%.

W&T Offshore Inc. to Report Q3, 2014 Results on Nov 05, 2014

W&T Offshore Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Nov 05, 2014

 

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EXCO Resources Inc $2.02 USD -0.02
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Price/Book 0.8x
Price/Cash Flow 0.9x
TEV/Sales NM Not Meaningful
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