M&A
confidence high
sentiment positive
materiality 0.75
W&T Offshore completes $32M acquisition of 8 Gulf of Mexico producing assets
W&T OFFSHORE INC
- Gross consideration $32M, using cash on hand; effective date June 1, 2023.
- Estimated production ~2,400 boe/d (42% oil); high average working interest ~72%.
- Adds 3.2 mmboe proved developed reserves (49% oil); 2P reserves 5.1 mmboe.
- Accretive purchase price multiple of ~1.0x LTM cash flow and ~$13,500 per boe/d.
- Assets are in shallow water depths 25–265 ft within W&T's existing area of operations.