W&T Offshore (WTI) Tops Q3 EPS by 19c
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W&T Offshore Announces Third Quarter 2016 Operational and Financial Results along with Fourth Quarter and Full Year 2016 Production and Expense Guidance
November 2, 2016 4:30 PM EDTHOUSTON, Nov. 2, 2016 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) today reported its third quarter 2016 operational and financial results, as well as its 2016 fourth quarter and full year production and expense guidance. Some of the key items for the third quarter include:
On September 7, 2016, completed an Exchange Transaction (defined and described below) of $710.2 million, or approximately 79%, of our 8.50% Senior Notes due 2019 for new secured notes and common stock. At the same time we closed on a new $75 million 1.5 Lien Term Loan. The Company recognized a gain on the debt... More