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

Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2022
Subsequent Events
Subsequent Events	NOTE 13 — SUBSEQUENT EVENTS On November 1, 2022, the $552.5 million principal of the Senior Second Lien Notes were reclassified from long-term debt to current debt as a result of their November 1, 2023 maturity date. See Note 2 – Debt for additional information. On November 7, 2022, the Company entered into the Eleventh Amendment to Sixth Amended and Restated Credit Agreement and Extension Agreement, which extended the maturity date and Lender commitment to January 3, 2024, or in the event the Senior Second Lien Notes are not refinanced or replaced in full, on or prior to August 1, 2023, with other indebtedness that matures on or after April 3, 2024 or are not otherwise discharged, defeased or repaid in full, August 1, 2023. Outstanding borrowings will accrue interest at SOFR plus 6.0% per annum. The commitment fee for the unused portion of available borrowing amounts will be 3.0% per annum. In connection with the Eleventh Amendment, the Company paid to Calculus an extension fee of $100,000. The terms of the Eleventh Amendment were approved by the Audit Committee of the Board of Directors of the Company.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2022

NOTE 13 — SUBSEQUENT EVENTS

On November 1, 2022, the $552.5 million principal of the Senior Second Lien Notes were reclassified from long-term debt to current debt as a result of their November 1, 2023 maturity date. See Note 2 – Debt for additional information.

On November 7, 2022, the Company entered into the Eleventh Amendment to Sixth Amended and Restated Credit Agreement and Extension Agreement, which extended the maturity date and Lender commitment to January 3, 2024, or in the event the Senior Second Lien Notes are not refinanced or replaced in full, on or prior to August 1, 2023, with other indebtedness that matures on or after April 3, 2024 or are not otherwise discharged, defeased or repaid in full, August 1, 2023. Outstanding borrowings will accrue interest at SOFR plus 6.0% per annum. The commitment fee for the unused portion of available borrowing amounts will be 3.0% per annum. In connection with the Eleventh Amendment, the Company paid to Calculus an extension fee of $100,000. The terms of the Eleventh Amendment were approved by the Audit Committee of the Board of Directors of the Company.