History

Over 36 Years of Growth

We’ve Built Deep Expertise in the Gulf of Mexico

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 36 + 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.

2019

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

2018

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.

2017

Continued to develop the Mahogany field increasing production and reserves.

2016

Closed exchange offer with new PIK notes and common stock for Senior Notes with 79% participation along with new $75MM financing.

2015

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.

2014

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.

2013

Acquired interests in various shelf properties and three deepwater fields from Callon Petroleum for $87 million, including the “Medusa” deepwater field at the Mississipi Canyon 582 field.

Completed divestitures of $30 million, including the transfer of liabilities, of interest in non-core properties.

2011

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.

2010

Closed $121 million acquisition of two deepwater fields from Total and closed $134 million acquisition of three deepwater fields from Shell.

2009

Completed divestiture of $161 million, including the transfer of liabilities, of interests in non-core properties.

2008

Closed $119 million acquisition of interest in Mahogany field from Apache.

2007
Completed offering of $450 million of senior notes.
2006

Closed $1.2 billion acquisition from Kerr-McGee and completed 9.775 million share follow-on equity offering.

2005

Completed IPO and began trading on the NYSE.

2004

Drilled first operated deep shelf well.

2003

Closed $56 million acquisition from ConocoPhillips.

2002

Drilled W&T’s first operated deepwater well and closed $52 million acquisition from Burlington Resources.

2000

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.

1997
Sold W&T’s interests to Hunt at a profit.
1996

Purchased Columbia Gas Development Co. with Hunt Petroleum for $195 million.

1995 to 1996

Drilled over 30 wells on turnkey contracts for other companies.

1988 to 1993

Completed 14 acquisitions.

1988

Purchased the first Offshore property.

1985

Purchased the first production property for $500,000.

1983

Tracy Krohn founded W&T with $12,000.