W&T Offshore, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Notes Tables
Notes Details

FINANCIAL INSTRUMENTS (Tables)

v3.25.0.1

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Contracted Volumes and Weighted Average Prices of Open Derivative Contracts


		Average
		Daily	Total	Weighted		Weighted		Weighted
	Instrument	Volumes	Volumes	Strike Price		Put Price		Call Price
Period	Type	(Mmbtu)	(Mmbtu)		($/Mmbtu)		($/Mmbtu)		($/Mmbtu)
Jan 2025 - Mar 2025	calls	62,000	5,580,000	$	—	$	—	$	5.50
Jan 2025 - Mar 2025	swaps	63,333	5,700,000	$	2.72	$	—	$	—
Apr 2025 - Dec 2025	puts	62,182	17,100,000	$		$	2.27	$	—
Jan 2026 - Dec 2026	puts	55,890	20,400,000	$	—	$	2.35	$	—
Jan 2027 - Dec 2027	puts	52,603	19,200,000	$	—	$	2.37	$	—
Jan 2028 - Apr 2028	puts	49,587	6,000,000	$	—	$	2.50	$	—

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The fair value of the Company’s derivative financial instruments was recorded in the Consolidated Balance Sheets as follows (in thousands):


	December 31,
	2024		2023
Prepaid expenses and other current assets	$	868	$	1,180
Other assets		4,150		10,068
Accrued liabilities		3,731		6,267
Other liabilities		—		2,756

The impact of commodity derivative contracts on the Consolidated Statements of Operations was as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Realized (gain) loss	$	(2,879)	$	4,087	$	125,089
Unrealized gain		(710)		(58,846)		(39,556)
Derivative (gain) loss, net	$	(3,589)	$	(54,759)	$	85,533

Schedule of Net Values and Estimated Fair Values of Debt Instruments

The following table presents the net values and estimated fair values of the Company’s debt (in thousands):


	December 31, 2024				December 31, 2023
	Net Value		Fair Value		Net Value		Fair Value
Term Loan	$	112,132	$	109,727	$	111,107	$	108,467
11.75% Notes		272,081		278,765		269,910		283,443
TVPX Loan		9,010		9,395		9,587		10,156
Total	$	393,223	$	397,887	$	390,604	$	402,066

- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Publisher FASB
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
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