Highest-materiality recent filing
Dismissal without prejudice of lawsuit with USSIC and PHLY; two sureties represent ~70% of W&T's surety bond portfolio.
W&T Offshore issues $350M 10.750% senior second lien notes due 2029, enters new $50M credit facility
Issued $350M in 10.750% senior second lien notes due Feb 1, 2029; interest payable Feb 1 and Aug 1 starting Aug 1, 2025.
W&T Offshore closes $350M notes offering, lowers coupon 100bp, tenders 98% of 2026 notes
Closed $350M of 10.750% senior second lien notes due 2029; coupon reduced 100bp from prior 11.750% notes.
W&T Offshore prices $350M 10.75% senior second lien notes due 2029
$350M aggregate principal at 10.750% coupon, priced at par, due 2029; closing expected Jan. 28, 2025.
W&T Offshore proposes $350M notes offering; faces $254.7M collateral demands
$350M senior second lien notes due 2029; proceeds to refinance 2026 notes and repay MRE term loan.
W&T Offshore commences tender offer for $275M 2026 notes, plans $350M new notes due 2029
Tender offer for any and all $275M outstanding 11.750% Senior Second Lien Notes due 2026.
W&T Offshore receives $58.5M insurance settlement, sells non-core interest for $12.3M
Signed PSA to sell non-core Garden Banks interest with 195 Boe/d (72% oil) for $12.3M; expects close Jan 2025.
W&T Offshore extends credit maturity to Dec 31, 2024; replaces EY with Deloitte as auditor
Extended credit agreement maturity from June 30 to December 31, 2024, subject to monthly conditions and no lender termination notice.
W&T Offshore extends credit facility maturity by one month to June 30, 2024; no borrowings
Extended maturity date from May 31, 2024 to June 30, 2024 via Eighteenth Amendment.
W&T Offshore defers $30.1M principal payments on non-recourse term loan through 2024
Deferred $30.1M of principal repayments due in 2024; mandatory payments resume Q1 2025 with optional catch-up via excess cash flow sweep.
W&T Offshore closes $72M acquisition of six GOM fields; adds 18.7 MMBOE proved reserves
Acquired six fields for $72M cash; all 100% working interest (avg 82% NRI).
W&T Offshore agrees to acquire Gulf of Mexico shelf assets for $72M from bankrupt Cox Oil
Acquisition includes interests in Eugene Island 64, Main Pass 61, Mobile Bay 904/916, West Delta 73, and South Pass 49 fields.
W&T Offshore terminates purchase agreement with Cox Oil Offshore
Terminated purchase agreement for certain assets from Cox Oil Offshore and related entities on Oct 20, 2023.
W&T Offshore to acquire Gulf of Mexico assets from Cox Oil for $88.5M in bankruptcy sale
Gross purchase price of $88.5M in cash, subject to customary adjustments for revenues, expenses, cure costs and unpaid royalties.
W&T Offshore completes $32M acquisition of 8 Gulf of Mexico producing assets
Gross consideration $32M, using cash on hand; effective date June 1, 2023.
On May 20, 2024, the Board of Directors of W&T Offshore, Inc. (the “Company”) approved the acceptance of the resignation of Jonathan Curth, Executive Vice President, General Counsel and Corporate Secretary, effective May 24, 2024.
appointed Mr. John D. Buchanan to fill the vacancy on the Board effective April 8, 2024.
On June 22, 2023, W&T Offshore, Inc. (the “Company”) announced the appointment of Sameer Parasnis to the position of Executive Vice President and Chief Financial Officer, effective July 3, 2023.
On May 1, 2023, W&T Offshore, Inc. (the “Company”) announced that its Board of Directors (the “Board”), upon the recommendation of the Nominating and Corporate Governance Committee of the Board, voted to expand the size of the Board to five members and appointed Dr. Nancy Chang to fill the vacancy on the Board on April 28, 2023.
On April 6, 2023, W&T Offshore, Inc. (the “Company”) announced the resignation of Janet Yang, Executive Vice President and Chief Financial Officer, effective on May 11, 2023.
the Board of Directors (the “Board”) appointed Bart P. “Trey” Hartman, III, currently serving as Vice President and Chief Accounting Officer, as the Company’s Interim Chief Financial Officer, effective May 11, 2023
Huan Gamblin, who currently serves as Manager of Acquisition and Divestiture, is being promoted to Vice President of Business Development
the retirement of Stephen L. Schroeder, Senior Vice President and Chief Technical Officer, effective June 1, 2022.
On May 5, 2022, W&T Offshore, Inc. (the “Company”) announced the appointment of Bart P. “Trey” Hartman, III to Vice President and Chief Accounting Officer, effective immediately.
In conjunction with this change, Mr. Hartman will assume the Principal Accounting Officer role from Ms. Janet Yang, who will remain as Executive Vice President and Chief Financial Officer
On April 11, 2022, W&T Offshore, Inc. (the “Company”) announced the departure of Shahid A. Ghauri, General Counsel and Corporate Secretary, from the Company, to pursue other personal interests.
Nadege Assale, who has served as Assistant General Counsel for the past two years, will assume the role of Acting General Counsel until Mr. Ghauri’s successor is named.
Max materiality 0.85 · Median 0.50 · Most common event debt