W&T Offshore closes $72M acquisition of six GOM fields; adds 18.7 MMBOE proved reserves

W&T OFFSHORE INC

Acquired six fields for $72M cash; all 100% working interest (avg 82% NRI).
Estimated production 3,700-5,700 BOEPD (~68% liquids) as of Jan 19, 2024.
Proved reserves (1P) of 18.7 MMBOE (62% liquids); PV-10 of $250.4M.
Proved plus probable (2P) of 60.6 MMBOE (78% liquids); PV-10 of $629.2M.
Plan to defer Holy Grail well, explore Drilling Joint Venture for deepwater wells.

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