Operations

Our Operations in the Gulf of Mexico

Our Operations in the Gulf of Mexico

Prolific and unique opportunities

The Gulf of Mexico provides better porosity and permeability than the Permian Basin. The stacked reservoirs enable stacked-pay development, attractive primary production and recompletion opportunities. At W&T Offshore, we use advanced seismic and geoscience tools to execute successful drilling projects.

We’re generating incremental production from 2P and 3P reserves thanks to natural drive mechanisms. Typical fields with high-quality sands offer mechanisms superior to primary depletion and they enjoy incremental reserve adds annually. Fewer conventional wells are required to develop these fields.

shelf and deepwater leases

Rigorous Technical Evaluation Predicts Drilling Success

We follow a thorough process that has resulted in exceptional drilling success. All leads are high graded for review, and if approved the project team assigns deadlines.

Next, management reviews the cursory technical evaluation, the land review with scoping costs and business and technical planning. A full technical evaluation takes place with probabilistic risk analysis, AFE costing and economic evaluation. Executive management must grant AFE approval before the project is turned over to the execution team and deadlines are set.

A Thriving Portfolio of Deepwater Projects

We are expanding and diversifying our deepwater portfolio with the Magnolia Field (2019) as our latest addition. We operate and participate in various deepwater production facilities, including TLPs, E-TLPs, SPARs, deepwater fixed structures, and sub-sea tiebacks.

Record 4th Quarter Production in 2019

We are growing and delivering value year-over-year through our diverse portfolio of projects.

Feature

Feature

SS349 “Mahogany”

The unique advantages of the Gulf of Mexico include low decline rates, world-class porosity/permeability and significant untapped reserve potential.

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The Gulf of Mexico Deepwater

At W&T Offshore, we have been a premium Gulf of Mexico operator for over 36 years and our gross acres in the deepwater have more than doubled since 2009. We define a deepwater property as one in over 500 feet of water.

220K

Gross acres (~110,000 net)

22%

of 4Q 2019 production of 52.8 MBoe/d

21.1

MMBoe of 1P reserves

37.2

MMBoe of 2P reserves

Mississippi Canyon

Mississippi Canyon fields 243, 582, 698 and  800 are all located southeast of New Orleans, Louisiana. W&T Offshore owns working interests in fields 243, 698 and 800. Murphy Oil Corporation is the operator of field 582.

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Viosca Knoll

W&T Offshore owns a working interest in the Viosca Knoll 823 field and is the operator of this property. We also own working interests in Viosca Knoll 783, covering blocks 783 and 784, and are the operator of these properties.

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Ewing Bank

Ewing Bank 910 is located approximately 68 miles off the Louisiana coast in 560 feet of water. The field area covers Ewing Bank blocks 910 and 954, and South Timbalier blocks 320 and 311. Kerr-McGee discovered the field in 1996.

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Garden Banks

W&T Offshore recently acquired a 75% working interest and operatorship in the Magnolia field from ConocoPhillips for $20 MM.  In early 2020, the Company announced it planned to acquire the remaining 25% working interest.

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The Gulf of Mexico Shelf

The Gulf of Mexico shelf has future growth opportunities from sub-salt projects.

595K

Gross acres (440,000 net)

78%

of 4Q 2019 production of 52.8 MBoe/d

136.3

MMBoe of 1P reserves

197.8

MMBoe of 2P reserves

Ship Shoal

Ship Shoal 349 field is located off the coast of Louisiana, approximately 235 miles southeast of New Orleans, Louisiana. The Ship Shoal 028 field is located off the coast of Louisiana, approximately 90 miles southeast of New Orleans in 10 feet of water.

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Fairway

Fairway is comprised of Mobile Bay Area blocks 113 (Alabama State Lease #0531) and 132 (Alabama State Lease #0532) located in 25 feet of water, approximately 35 miles south of Mobile, Alabama.

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Mobile Bay Field

The recently acquired Mobile Bay Fields are located off the coast of Alabama, in state and federal waters approximately 70 miles south of Mobile, Alabama.  The field area includes 16 Alabama State Water blocks and four Federal OCS blocks

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Main Pass

Main Pass 108 field consists of Main Pass blocks 107, 108, and 109. This field is located off the coast of Louisiana approximately 50 miles east of Venice, Louisiana in 50 feet of water.

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