W&T Offshore, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Fair Value of Long-Term Debt

The following table presents the fair value of our long-term debt, all of which are classified as Level 2 within the valuation hierarchy (in thousands):

	Hierarchy	March 31, 2018		December 31, 2017
11.00% 1.5 Lien Term Loan, due November 2019	Level 2	$	75,000	$	75,000
9.00 % Second Lien Term Loan, due May 2020	Level 2		297,000		288,000
9.00%/10.75% Second Lien PIK Toggle Notes, due May 2020	Level 2		164,898		162,322
8.50%/10.00% Third Lien PIK Toggle Notes, due June 2021	Level 2		127,149		119,490
8.50% Unsecured Senior Notes, due June 2019	Level 2		182,236		178,439

The long-term debt items are reported on the Condensed Consolidated Balance Sheets at their carrying value as described in Note 2.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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