Note 13 - Subsequent Event |
6 Months Ended |
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Jun. 30, 2019 | |
| Notes to Financial Statements | |
| Subsequent Events [Text Block] |
13. Subsequent EventOn July 16, 2019, a panel of the United States Fifth Circuit Court of Appeals rendered its opinion in the lawsuit, Apache Deepwater, L.L.C. vs. W&T Offshore, Inc . The opinion affirmed the trial court's judgment against the Company. The Company intends to pursue vigorously all available legal recourse. As noted above in Note 12, in 2017 in connection with the appeal, the Company deposited $49.5 million in the registry of the court and accrued such amount as a liability. Accordingly, management of the Company does not believe that the appeal court's decision to affirm the trail court's judgment will materially impact our available liquidity, financial position or results of operations.See Note 7, Oil and Gas Property Acquisition, for information regarding the Company’s recent agreement to purchase from ExxonMobil interests in and operatorship of certain oil and gas producing properties. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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