W&T Offshore, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties primarily in the Gulf of Mexico and the Permian Basin in West Texas. As of December 31, 2014, the company had interests in offshore leases covering approximately 1.1 million gross acres (0.7 million net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama. Onshore, the company has leasehold interests in approximately 50,000 gross acres (40,000 net acres), substantially all of which are in Texas. Reserves The company’s total proved reserves, as of December 31, 2014, included 120.0 million barrels of oil equivalent (MMBoe) or 720.0 billion cubic feet of gas equivalent (Bcfe). Fields Spraberry Field (Yellow Rose): The Spraberry field is located in the Permian Basin in West Texas. The company acquired a 100% working interest in approximately 21,900 net acres in connection with the acquisition of properties from Opal Resources LLC and Opal Resources Operating LLC in 2011. In separate transactions, the company acquired approximately 9,500 net acres in 2011 and approximately 2,200 net acres in 2013. The company is the operator for these properties. Ship Shoal 349 Field (Mahogany): Ship Shoal 349 field is located off the coast of Louisiana, approximately 235 miles southeast of New Orleans, in 375 feet of water. The field area covers Ship Shoal blocks 349 and 359, with a single production platform on Ship Shoal block 349. Fairway Field: The Fairway field is comprised of Mobile Bay Area blocks 113 (Alabama State Lease #0531) and 132 (Alabama State Lease #0532) and located in 25 feet of water, approximately 35 miles south of Mobile, Alabama. The company acquired its 64.3% working interest, along with operatorship in the Fairway field, in 2011 and acquired the remaining working interest of 35.7% in 2014. Viosca Knoll 783 Field (Viosca Knoll 783 Lease (Tahoe) and Viosca Knoll 784 Lease (SE Tahoe)): The Viosca Knoll 783 field is located off the coast of Louisiana, approximately 140 miles southeast of New Orleans, in 1,500 to 1,700 feet of water. The field area covers Viosca Knoll blocks 783 and 784, with subsea tiebacks to two platforms in Main Pass 252. The company acquired a 70% working interest in the Tahoe lease and a 100% working interest in the SE Tahoe lease from Shell in 2010. The company is the operator for these properties. Mississippi Canyon 243 Field (Matterhorn): Mississippi Canyon 243 field is located off the coast of Louisiana, approximately 100 miles southeast of New Orleans, in 2,552 feet of water. The field area covers Mississippi Canyon block 243, with a single floating, tension leg production platform on Mississippi Canyon block 243. The company acquired a 100% working interest in the field from Total E&P USA Inc. (Total E&P) in 2010. This field is a supra-salt development with 17 productive horizons at depths ranging to 9,850 feet. Main Pass 108 Field: Main Pass 108 field consists of Main Pass blocks 107, 108 and 109. This field is located off the coast of Louisiana approximately 50 miles east of Venice in 50 feet of water. The company acquired its working interests in these blocks, which range from 33% to 100%, in a transaction with Kerr-McGee Oil and Gas Corporation and the company is the operator for the majority of these properties. Mississippi Canyon 782 Field (Dantzler): Mississippi Canyon 782 field is located off the coast of Louisiana, approximately 160 miles southeast of New Orleans, in 6,600 feet of water. The field area covers Mississippi Canyon block 782 and 738. The company has a 20% working interest, which is operated by Noble Energy. Viosca Knoll 823 Field (Virgo): Viosca Knoll 823 field is located off the coast of Louisiana, approximately 125 miles southeast of New Orleans, in 1,014 feet of water. The field area covers Viosca Knoll block 823 and Viosca Knoll block 822, with a single fixed leg production platform on Viosca Knoll block 823. The company acquired a 64% working interest in the field from Total E&P in 2010 and the company is the operator for this property. East Cameron 321: East Cameron 321 field is located approximately 97 miles off the Louisiana coastline in 225 feet of water. Two production facilities, the ‘A’ and ‘B’ platforms, are located on the block. The company owns a 100% working interest in the field and is the operator of the field. Main Pass 283: Main Pass 283 field consists of Main Pass blocks 284, 279 and 283 and Viosca Knoll Block 734. This field is located off the coast of Louisiana approximately 75 miles east of Venice in 315 feet of water. Business Strategy The company’s business strategy is to acquire, explore and develop oil and natural gas reserves on the Outer Continental Shelf (OCS). Customers The company’s major customer includes Shell Trading (US) Co. Regulations The company's majority of operations are conducted on federal oil and natural gas leases, which are administered by the Bureau of Ocean Energy Management pursuant to the Outer Continental Shelf Lands Act. Air emissions from its operations are subject to the Clean Air Act and comparable state and local requirements. History W&T Offshore, Inc. was founded in 1983.
w&t offshore inc (WTI:New York)
Nine Greenway Plaza
Houston, TX 77046
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