Q1 2025 W&T Offshore Inc Earnings Call Transcript

May 7, 2025 / 04:00 PM GMT

Release Date Price: €1.03 (+0.98%)

Transcript 10-Q8-K

Key Points

Positve

W&T Offshore Inc (WTI) delivered production of 30,500 barrels of oil equivalent per day, near the top end of their guidance range.
Lease operating expenses came in below the low end of guidance at $71 million.
The company generated $32.2 million in adjusted EBITDA, marking a 2% increase compared to the fourth quarter of 2024.
W&T Offshore Inc (WTI) successfully closed an offering of $350 million in new second lien notes, reducing their total debt by $39 million.
The company improved its credit ratings from S&P and Moody's, enhancing liquidity and financial flexibility.

Negative

Freezing weather in January caused unplanned downtime, impacting production.
The company faces volatility in oil and gas prices, which affects their decision to drill new wells.
There are ongoing costs to bring acquired assets up to W&T Offshore Inc (WTI)'s operational standards.
The company is not hedged on oil, which could expose them to price fluctuations.
Higher production costs are anticipated in the second quarter of 2025 due to increased production levels.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WTI.N - W&T Offshore Inc
Q1 2025 W&T Offshore Inc Earnings Call
May 07, 2025 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. Welcome to the W&T Offshore first quarter 2025 conference call.

During today's call, all parties will be in listen-only mode.

Following the company's prepared comments, the call will be opened for question and answers.

During the question and answer session, we ask that you limit your questions to one and a follow up.

You can always rejoin the queue.

This conference is being recorded, and a replay will be made available on the company's website following the call.

I would now like to turn the conference over to Al Petrie, investor relations coordinator.

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