W&T Offshore has been an independent oil and natural gas producer active in the acquisition, exploration, and development of properties in the Gulf of Mexico since 1983. For the past 37 + years, we have successfully discovered and produced properties on the conventional shelf and in the deepwater across the Gulf of Mexico thanks to the significant technical expertise of our Founder and CEO, Tracy Krohn, and the team he has assembled. We began trading on the NYSE under ticker symbol “WTI” in 2005 and our headquarters is in Houston, Texas.
In January 2021, the Company completed the consolidation of its two onshore natural gas treatment facilities that service the Mobile Bay area into the Onshore Treating Facility (“OTF”) which was acquired in 2019 from ExxonMobil, and closed its Yellowhammer treatment facility.
Acquired remaining interest in Magnolia Field and additional working interest at Mobile Bay.
Closed $168 million acquisition of properties from ExxonMobil in the eastern region of the Gulf of Mexico, offshore Alabama, and related onshore and offshore properties.
Acquired a 75% working interest and became the operator of the Magnolia Field from ConocoPhillips for $20.0 million, before closing adjustments adding 4.1 million barrels of oil equivalent proved reserves.
W&T Offshore, along with partners, formed and funded Monza Energy LLC., as a Drilling JV program.
Acquired a non-operated working interest in the Heidelberg Field from Cobalt International Energy for $31.1 million, before closing adjustments.
Continued to develop the Mahogany field increasing production and reserves.
Closed exchange offer with new PIK notes and common stock for Senior Notes with 79% participation along with new $75MM financing.
Completed the Yellow Rose Field divestiture of about 26,000 net acres in the Permian Basin for $376 million.
Big Bend & Dantzler Fields came online at the end of October and beginning of November.
Completed offering of $300 million of senior notes.
Acquired a non-operated interest in the producing Neptune Field and interests in 24 deepwater exploration blocks from Woodside Energy for $65 million.
Acquired the remaining interest in the Fairway field and Yellowhammer facility for $24 million.
Acquired interests in various shelf properties and three deepwater fields from Callon Petroleum for $87 million, including the “Medusa” deepwater field at the Mississippi Canyon 582 field.
Completed divestitures of $30 million, including the transfer of liabilities, of interest in non-core properties.
Closed $397 million acquisition of oil-producing properties in the Permian Basin of West Texas from Opal Resources and acquired the “Fairway” field (Alabama state waters) and the Yellowhammer onshore treating facility from Shell for $51 million.
Completed offering of $600 million of senior notes and repurchased $450 million of senior notes.
Closed $121 million acquisition of two deepwater fields from Total and closed $134 million acquisition of three deepwater fields from Shell.
Completed divestiture of $161 million, including the transfer of liabilities, of interests in non-core properties.
Closed $119 million acquisition of interest in Mahogany field from Apache.
Closed $1.2 billion acquisition from Kerr-McGee and completed 9.775 million share follow-on equity offering.
Completed IPO and began trading on the NYSE.
Drilled first operated deep shelf well.
Closed $56 million acquisition from ConocoPhillips.
Drilled W&T’s first operated deepwater well and closed $52 million acquisition from Burlington Resources.
Closed $26 million acquisition from BP Amoco in February, and closed $44 million acquisition from EEX in December which included W&T’s first deepwater well.
Purchased Columbia Gas Development Co. with Hunt Petroleum for $195 million.
Drilled over 30 wells on turnkey contracts for other companies.
Completed 14 acquisitions.
Purchased the first Offshore property.
Purchased the first production property for $500,000.
Tracy Krohn founded W&T with $12,000.