W&T OFFSHORE (WTI) Company Report

WTI Offshore reported a 6% quarter-over-quarter increase in Q3 2025 production to 35,600 barrels of oil equivalent per day, with October production averaging above 36,000 barrels of oil equivalent per day.
Adjusted EBITDA grew 11% quarter-over-quarter to $39,000,000 in Q3 2025, alongside an 8% reduction in LOE to approximately $23 per barrel of oil equivalent.
The company ended Q3 2025 with approximately $125,000,000 in unrestricted cash and reduced net debt by about $60,000,000 year-to-date to under $226,000,000, resulting in total liquidity of around $250,000,000.
Full-year 2025 capital expenditures are now projected to be around $60,000,000, reflecting strategic investments in midstream infrastructure aimed at enhancing production and lowering costs.

Nov 6, 2025, 3:00 PM

W&T Offshore Reports Strong Q3 2025 Results with Production and EBITDA Growth

WTI

Earnings

Guidance Update

Dividends

W&T Offshore reported strong Q3 2025 financial and operational results, with production increasing 6% quarter over quarter to 35,600 barrels of oil equivalent per day and adjusted EBITDA growing 11% quarter over quarter to $39 million.
The company significantly strengthened its balance sheet, ending Q3 2025 with approximately $125 million in unrestricted cash and lowering net debt to under $226 million, resulting in total liquidity of about $250 million.
Operating costs were reduced, with Lease Operating Expenses (LOE) decreasing 8% quarter over quarter to around $23 per barrel of oil equivalent.
For Q4 2025, the company expects production at a midpoint of approximately 36,000 barrels of oil equivalent per day, and updated full-year 2025 capital expenditures guidance to around $60 million.
W&T Offshore has maintained a consistent quarterly dividend for the past two years, having paid eight quarterly cash dividends since late 2023, and announced a Q4 2025 payment.

Nov 6, 2025, 3:00 PM

W&T Offshore Announces Third Quarter 2025 Results and Declares Dividend

WTI

Earnings

Dividends

Debt Issuance

W&T Offshore reported a net loss of $71.5 million, or $(0.48) per diluted share, for the third quarter of 2025, which was significantly impacted by a non-cash valuation allowance of $59.9 million against deferred tax assets.
The company's Adjusted Net Loss totaled $7.3 million, or $(0.05) per diluted share, and Adjusted EBITDA grew by 11% over the second quarter of 2025 to $39.0 million.
Production for Q3 2025 increased to 35.6 MBoe/d, representing a 6% increase compared to Q2 2025 and a 15% increase compared to Q3 2024.
As of September 30, 2025, W&T Offshore had $124.8 million in unrestricted cash and Net Debt of $225.6 million, which decreased almost $60 million from year-end 2024.
The Board of Directors declared a fourth quarter 2025 dividend of $0.01 per share, payable on November 26, 2025.

Nov 5, 2025, 10:01 PM

W&T Offshore Announces Third Quarter 2025 Results and Declares Dividend

WTI

Earnings

Dividends

Guidance Update

W&T Offshore reported a net loss of $71.5 million, or $(0.48) per diluted share, and an Adjusted Net Loss of $7.3 million, or $(0.05) per diluted share, for the third quarter of 2025.
Production for Q3 2025 increased to 35.6 thousand barrels of oil equivalent per day (MBoe/d), while Adjusted EBITDA grew by 11% over the second quarter of 2025 to $39.0 million. Lease operating expenses (LOE) per Boe also decreased by 8% compared to the second quarter of 2025, reaching $23.27 per Boe.
As of September 30, 2025, the company's unrestricted cash and cash equivalents stood at $124.8 million, with total debt at $350.4 million and Net Debt at $225.6 million.
The company declared a fourth quarter 2025 dividend of $0.01 per share and updated its full year capital expenditures guidance to between $57 million and $63 million.

Nov 5, 2025, 9:45 PM

WTI Oil Prices Forecast to Decline Amid Oversupply Concerns

WTI

Demand Weakening

Guidance Update

Market sentiment for crude oil has turned bearish, with net long bets for WTI at their lowest since 2007 and short-only bets at a 20-month high.
Kpler forecasts an oil oversupply of approximately 2.5 million barrels per day in the fourth quarter, expecting prices to drop to the mid-to-high $50s by year-end.
Despite US oil production reaching a record 13.5 million barrels per day in June, Kpler projects a decline of around 200,000 barrels per day in 2026.
Kpler estimates dated Brent will average $67 per barrel in 2025, aligning with recent forecasts.
OPEC+ is expected to pause at its next meeting, observing market dynamics, and is not anticipated to unwind further cuts at this time.

Sep 1, 2025, 12:22 PM

W&T Offshore Reports Q4 2024 Results, Strengthens Balance Sheet, and Provides 2025 Guidance

WTI

Earnings

Guidance Update

Debt Issuance

W&T Offshore generated $154 million in adjusted EBITDA and $45 million in free cash flow for the full year 2024.
The company reported a 3% increase in total proven reserves at SEC pricing to 127 million barrels of oil equivalent at year-end 2024, with oil reserves increasing by 39% and the PV-10 value rising 14% to $1.2 billion.
In early 2025, W&T Offshore strengthened its balance sheet by closing $350 million in new second lien notes to refinance existing debt, reducing total debt by $39 million, and securing a new $50 million revolving credit facility.
The company provided full year 2025 production guidance with a midpoint of 34,000 barrels of oil equivalent per day, representing a 6% increase over Q4 2024 production, primarily driven by the restart of fields from the Cox acquisition, with projected CapEx of $34-$42 million.

Mar 4, 2025, 3:00 PM

W&T Offshore Reports Q4 and Full Year 2024 Results, Strengthens Balance Sheet, and Provides 2025 Guidance

WTI

Earnings

Guidance Update

Debt Issuance

W&T Offshore generated $154 million in adjusted EBITDA and $45 million in free cash flow for the full year 2024, with production averaging 33,300 barrels of oil equivalent per day.
In early 2025, the company significantly strengthened its balance sheet by closing a $350 million new second lien notes offering, selling a non-core asset for $12 million, and receiving a $58.5 million insurance settlement, which would have resulted in a pro forma net debt of approximately $245 million at year-end 2024.
Year-end 2024 proven reserves increased 3% year over year to 127 million barrels of oil equivalent, driven by a 39% increase in oil reserves, and the PV-10 value of SEC approved reserves rose 14% to $1.2 billion despite lower SEC pricing.
The company provided 2025 guidance, projecting a full-year production midpoint of 34,000 barrels of oil equivalent per day and capital expenditures between $34 million and $42 million.