Last $6.23 USD
Change Today +0.40 / 6.86%
Volume 4.3M
WTI On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

w&t offshore inc (WTI) Snapshot

Open
$5.65
Previous Close
$5.83
Day High
$6.29
Day Low
$5.51
52 Week High
04/23/14 - $19.78
52 Week Low
01/29/15 - $4.80
Market Cap
471.3M
Average Volume 10 Days
2.4M
EPS TTM
$-0.19
Shares Outstanding
75.7M
EX-Date
03/4/15
P/E TM
--
Dividend
--
Dividend Yield
4.82%
Current Stock Chart for W&T OFFSHORE INC (WTI)

w&t offshore inc (WTI) Related Businessweek News

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w&t offshore inc (WTI) Details

W&T Offshore, Inc., an independent oil and natural gas producer, together with its subsidiaries, is engaged in the acquisition, exploration, and development of oil and natural gas properties primarily in the Gulf of Mexico and Texas. The company sells oil, natural gas liquids, and natural gas. It holds working interests in approximately 67 offshore fields in federal and state waters. As of December 31, 2013, the company had interests in offshore leases covering approximately 1.1 million gross acres spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi, and Alabama; and onshore leasehold interests in approximately 0.2 million gross acres in Texas. Its estimated proved reserves totaled 117.7 million barrels of oil equivalent. The company was founded in 1983 and is based in Houston, Texas.

w&t offshore inc (WTI) Top Compensated Officers

Co-Founder, Chairman, Chief Executive Officer...
Total Annual Compensation: $1.0M
President
Total Annual Compensation: $582.6K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $418.9K
Chief Operations Officer and Senior Vice Pres...
Total Annual Compensation: $407.5K
Chief Technical Officer and Senior Vice Presi...
Total Annual Compensation: $340.0K
Compensation as of Fiscal Year 2013.

w&t offshore inc (WTI) Key Developments

W&T Offshore Inc. Announces Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Operating and Tax Rate Guidance for the First Quarter and Full Year of 2015

W&T Offshore Inc. announced unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, oil production was 1.8 million barrels, up 2.1% over the fourth quarter of 2013. NGL production was 567,000 barrels, down slightly from the fourth quarter of 2013. Natural gas production was 13.1 billion cubic feet Bcf compared to 16.8 Bcf in the fourth quarter of 2013. Natural gas production volumes for the fourth quarter of 2013 were affected by a cumulative volume adjustment associated with previous periods, which resulted in a one-time positive adjustment of 2.6 Bcf in the fourth quarter of 2013. For the full year, oil production was 7.2 million barrels, up 2.3% over calendar year 2013. NGL production was 2.1 million barrels, up 1.0% over 2013, and natural gas production was 50.1 Bcf, down 6.0% from 2013. The continued focus on increasing oil production over natural gas production was evident in 2014 with successful exploration and development program focused on oil production and through acquisitions. For the quarter, revenues were $196.7 million compared to $244.9 million in the fourth quarter of 2013. Revenues decreased on a steep decline in crude oil prices, which were down $23.39 per barrel between the two quarters. Adjusted EBITDA was $89.6 million compared to $141.5 million reported for the fourth quarter of 2013. Adjusted EBITDA was lower primarily due to a $48.3 million decrease in revenues and a $3.7 million increase in operating expenses. Net loss was $33.4 million, or $0.44 per basic and diluted common share, compared to $11.9 million, or $0.16 per basic and diluted common share, during the same period in 2013. Excluding special items including derivative gains and losses, net loss was $40.4 million, or a loss of $0.53 per basic and diluted common share. This compares to a fourth quarter 2013 net loss, excluding special items, of $5.7 million, or $0.08 per basic and diluted common share. Earnings excluding special items were down primarily due to a $48.3 million decrease in revenues driven by a 10% decline in realized prices, lower production volumes, and a $3.7 million increase in operating expenses $2.2 million increase in gathering, transportation cost and production taxes, $1.8 million in G&A, offset by a $0.3 million decrease in LOE. Capital expenditures were $172.3 million compared to $211.4 million for the same period in 2013. Operating loss was $30,543,000 against operating income of $622,000 a year ago. Loss before income tax expense was $50,655,000 against $18,469,000 a year ago. Net cash provided by operating activities was $86,478,000 against $85,525,000 a year ago. EBITDA was $100,350,000 against $139,106,000 a year ago. For the full year, revenues were $948.7 million compared to $984.1 million in calendar year 2013. Revenues were lower despite the increase in oil and NGL production on an 11.2% decline in crude oil prices to $90.96 per barrel. Adjusted EBITDA was $569.2 million, a decrease of $37.5 million from the full year of 2013. Net cash provided by operating activities was $511.4 million compared to $561.4 million from the same period in 2013. Capital expenditures were $630.0 million compared to $635.8 million in 2013. Operating income was $62,068,000 against $146,731,000 a year ago. Loss before income tax expense was $16,120,000 against income before income tax expense of $80,096,000 a year ago. Net loss was $11,661,000 or $0.16 per basic and diluted share against net income of $51,322, 000 or $0.68 per basic and diluted share a year ago. Net loss excluding special items was $14,238,000 or $0.19 per basic and diluted share against net income excluding special items of $54,269,000 or $0.72 per basic and diluted share a year ago. EBITDA was $573,176,000 against $607,197,000 a year ago. The company provided operating and tax rate guidance for the first quarter and full year of 2015. For the first quarter, the company expects to produce oil and NGLs of 2.2 MMBbls to 2.5 MMBbls, natural gas of 12.0 Bcf to 13.3 Bcf and total production of 25.5 Bcfe to 28.2 Bcfe and 4.2 MMBoe to 4.7 MMBoe. For the full year, the company expects to produce oil and NGLs of 9.3 MMBbls to 10.3 MMBbls, natural gas of 44.0 Bcf to 48.6 Bcf and total production of 100.0 Bcfe to 110.2 Bcfe and 16.6 MMBoe to 18.4 MMBoe. For the first quarter, the company expects income tax rate of 35%. For the full year, the company expects income tax rate of 35%. Capital expenditure budget currently set at $200 million.

W&T Offshore Inc. to Report Q4, 2014 Results on Mar 04, 2015

W&T Offshore Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Mar 04, 2015

W&T Offshore Inc., Q4 2014 Earnings Call, Mar 05, 2015

W&T Offshore Inc., Q4 2014 Earnings Call, Mar 05, 2015

 

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EXCO Resources Inc $1.98 USD -0.03
Halcon Resources Corp $1.95 USD -0.06
Hercules Offshore Inc $0.60 USD -0.0088
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