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

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

NOTE 15 — EARNINGS PER SHARE

The following table presents the calculation of basic and diluted earnings per common share (in thousands, except per share amounts):


	Year Ended December 31,
	2023		2022		2021
Net income (loss)	$	15,598	$	231,149	$	(41,478)

Weighted average common shares outstanding - basic		146,483		143,143		142,271
Dilutive effect of securities		1,819		1,947		—
Weighted average common shares outstanding - diluted		148,302		145,090		142,271

Earnings per common share:
Basic	$	0.11	$	1.61	$	(0.29)
Diluted	$	0.11	$	1.59	$	(0.29)

Shares excluded due to being anti-dilutive		—		—		1,370