W&T Offshore Announces Third Quarter 2019 Results
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W&T Offshore (WTI) Tops Q3 EPS by 13c
October 30, 2019 4:46 PM EDTW&T Offshore (NYSE: WTI) reported Q3 EPS of $0.13, $0.13 better than the analyst estimate of $0.00. Revenue for the quarter came in at $132.22 million versus the consensus estimate of $133.52 million.
Key highlights included:
Closed the $167.6 million Mobile Bay acquisition with ExxonMobil Corporation to acquire interests in and Operatorship of oil and gas producing properties in the eastern region of the Gulf of Mexico (GOM), including 74 million Boe (MMBoe) of net proved reserves, (as of the effective date of January 1, 2019) which nearly doubled W&Ts proved reserves;Reported net income of $75.9 million... More