Mississippi Canyon

Producing in Four Mississippi Canyon Fields

Mississippi Canyon 243 (Matterhorn)

The Mississippi Canyon 243 field is located approximately 100 miles southeast of New Orleans, Louisiana in 2,552 feet of water. Société Nationale Elf Aquitaine discovered the field in 2002 and production is from a single floating tension leg platform. W&T Offshore acquired a 100% working interest in the field from Total E&P in 2010.The field is a supra-salt development with 17 productive reservoirs at a maximum depth of 9,850 feet. The field also has a successful secondary recovery project with plans for another secondary recovery project. At the end of 2018, 30 wells have been drilled resulting in 13 successful wells.  Since acquiring a 100% working interest in this field, W&T has drilled three wells with a 100% success rate.

Key Statistics

80%

Percent oil and NGLs of mid-year 2022 proved reserves

794 Boe/d

2Q 2022 average daily equivalent sales rate (net)

Mississippi Canyon 582 (Medusa)

The Mississippi Canyon 582 field is located approximately 110 miles south-southeast of New Orleans, Louisiana in 2,200 feet of water. The field consists of Mississippi Canyon blocks 538, 582 and 583. Murphy Oil Corporation discovered the field in 1999 and is the operator. This field’s production occurs from late Miocene to early Pliocene deep water, channel/levee sand reservoirs. Hydrocarbon traps are a combination of both structural and stratigraphic traps. Since its discovery, 15 wells have been drilled, 11 of which were successful. Additional drilling opportunities have been identified and are currently being evaluated.

Key Statistics

94%

Percent oil and NGLs of mid-year 2022 proved reserves

347 Boe/d

2Q 2022 average daily equivalent sales rate (net)

Mississippi Canyon 698 (Big Bend)

The Mississippi Canyon 698 field is located approximately 160 miles southeast of New Orleans, Louisiana in 7,221 feet of water. The field covers portions of Mississippi Canyon blocks 697, 698, and 742. W&T and Noble discovered the field in 2012 and the field is operated by Fieldwood Energy LLC. W&T has a 20% working interest in the field and the production is flowing through a subsea tieback to the Thunder Hawk host facility located approximately 18 miles northwest of the field. The field is a supra-salt development with two productive reservoirs at depths ranging from 14,660 feet to 15,533 feet total vertical depth. Since its discovery, one well has been drilled resulting in a successful well that commenced production in the fourth quarter of 2015.

Key Statistics

95%

Percent oil and NGLs of mid-year 2022 proved reserves

7,834 Boe/d

2Q 2022 average daily equivalent sales rate (net)

Mississippi Canyon 800 (Gladden)

W&T Offshore announced a significant oil discovery in June 2019 at the Gladden Deep prospect located in the deepwater Gulf of Mexico on Mississippi Canyon block 800. W&T, which operates the discovery in 3,000 feet of water with a 17.25% working interest, drilled the well to 18,324 feet measured depth and encountered 201 feet of oil pay. The well was tied back to the Medusa spar through the existing Gladden pipeline.

Key Statistics

87%

Percent oil and NGLs of mid-year 2022 proved reserves

878 Boe/d

2Q 2022 average daily equivalent sales rate (net)