W&T Offshore (WTI) Tops Q2 EPS by 10c, Revenues Beat

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W&T Offshore Announces Second Quarter 2018 Operational and Financial Results and Third Quarter 2018 Guidance

August 1, 2018 5:00 PM EDT

HOUSTON, Aug. 1, 2018 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) today reported its second quarter 2018 operational and financial results and third quarter and full year 2018 production and expense guidance. Some of the key highlights for the second quarter included:

Mid-Year 2018 SEC proved reserves were 78.0 million Boe, up 5% from year-end 2017 SEC proved reserves, primarily due to upward revisions of previous estimates of 12.7 million Boe. The increase in proved reserves was more than sufficient to replace production and a conveyance of proved undeveloped reserves. The present value of our reported SEC... More