W&T Offshore, Inc. Quarterly report [Sections 13 or 15(d)]

NET INCOME (LOSS) PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2026

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income (loss)	$	12,561	$	(20,884)	$	(9,969)	$	(51,461)

Weighted average common shares outstanding - basic		149,705		147,847		149,244		147,723
Dilutive effect of securities		7,952		—		—		—
Weighted average common shares outstanding - diluted		157,657		147,847		149,244		147,723

Net income (loss) per common share:
Basic	$	0.08	$	(0.14)	$	(0.07)	$	(0.35)
Diluted	$	0.08	$	(0.14)	$	(0.07)	$	(0.35)

Shares excluded due to being anti-dilutive ⁽¹⁾		5,495		14,737		17,142		14,737

(1)	Includes RSUs and PSUs as their effect, if included, would have been anti-dilutive.