Subsequent Events |
3 Months Ended |
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Mar. 31, 2016 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
12. Subsequent Events Supplemental Bonding Requirements by the BOEM. Subsequent to March 31, 2016, we have filed appeals with the IBLA regarding three of the BOEM orders - specifically the February order that required W&T to post a total of $159.8 million in supplemental bonding and two March orders requiring $68.0 million in supplemental bonding. The objective of the Company remains to reach a mutual agreement on the financial assurance requirements of the demands. The issuance of any additional surety bonds to satisfy the BOEM orders or any future BOEM orders may require the posting of cash collateral, which may be significant, and the creation of escrow accounts. We continue to have discussions with the BOEM regarding these matters.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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