W&T Offshore Apparent High Bidder on Two Gulf of Mexico Blocks in Lease Sale 257 and Announces Participation in Upcoming Investor Conferences
November 19 2021 - 6:00AM
W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”)
today announced that the Company was the apparent high bidder on
two blocks in the Gulf of Mexico Lease Sale 257 held by the Bureau
of Ocean Energy Management (“BOEM”) on November 17, 2021. W&T
will also be participating in two upcoming investor conferences.
Lease Sale 257
W&T was the apparent high bidder in the most
recent Gulf of Mexico lease sale on two shallow water blocks,
Eugene Island South Addition block 385 and Ship Shoal South
Addition block 360. These two blocks cover a total of approximately
10,000 gross acres. If awarded, the Company will pay approximately
$295,000 in total for the awarded leases combined, which reflect a
100% working interest in the acreage. The blocks have a lease term
of five years and a 12.5% royalty. Despite submitting the apparent
high bid on these leases, the BOEM reserves the right not to award
the blocks based on their minimum bidding criteria. W&T expects
to receive the final award results over the next 90 days.
Investor Conferences
W&T will be participating at the following
upcoming investor events:
- Bank of America
Securities Leveraged Finance Conference 2021 – Chairman and Chief
Executive Officer Tracy W. Krohn will present Wednesday, December
1, 2021 at 9:45 a.m. Eastern Time and will also host virtual
one-on-one meetings. The presentation will be webcast live and
archived on W&T’s website, www.wtoffshore.com, on the
“Overview” page in the Investors section of the site. An updated
investor slide deck prepared in conjunction with the conference
will be posted on the website under “Presentations” prior to the
presentation.
- Capital One
Securities 16th Annual Energy Conference – the Company’s senior
management will be hosting virtual one-on-one meetings with
investors on Monday, December 6, 2021. W&T will not be making a
formal presentation. An investor deck prepared in conjunction with
the conference will be posted in the Investor Relations section of
the Company's website under “Presentations.”
About W&T Offshore
W&T Offshore, Inc. is an independent oil and
natural gas producer with operations offshore in the Gulf of Mexico
and has grown through acquisitions, exploration and development.
The Company currently has working interests in 41 producing fields
in federal and state waters and has under lease approximately
611,000 gross acres, including approximately 424,000 gross acres on
the Gulf of Mexico Shelf and approximately 187,000 gross acres in
the Gulf of Mexico deepwater. A majority of the Company’s daily
production is derived from wells it operates. For more information
on W&T, please visit the Company’s website at
www.wtoffshore.com.
CONTACT: |
|
Al Petrie |
Brent Collins |
|
|
Investor Relations Coordinator |
Director of Investor Relations |
|
|
apetrie@wtoffshore.com |
bcollins1@wtoffshore.com |
|
|
713-297-8024 |
713-624-7364 |
W and T Offshore (NYSE:WTI)
Historical Stock Chart
From Mar 2024 to Apr 2024
W and T Offshore (NYSE:WTI)
Historical Stock Chart
From Apr 2023 to Apr 2024