W&T Offshore settles with two largest surety providers; collateral demands withdrawn, rates locked through 2026

W&T OFFSHORE INC

Dismissal without prejudice of lawsuit with USSIC and PHLY; two sureties represent ~70% of W&T's surety bond portfolio.
Collateral demands withdrawn; no new demands allowed until after Dec 31, 2026, except for specific events (non-payment, claim, insolvency, default, lawsuit).
Premium rates on existing bonds locked at 2024 levels through Dec 31, 2026; provides cost predictability.
CEO states settlement removes uncertainty that suppressed stock price; company expects to deliver more value to shareholders.

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