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W&T Offshore, Inc. USD

Update

Gulf of Mexico shelf and deepwater independent oil and gas producer.

Sector: United States — oil & gas exploration & production

Geography: United States

US_EP_WTI

Price chart

3.31 USDDay 3.12%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
3.31 USD · 3.12%
Market cap
487 mln USD

Growth

Δ revenue y/y
15.5%
Δ EBITDA y/y
70.0%

Multiples

P/E (LTM)
—
P/B (FY)
—
P/E (ann.)
<0
EV/EBITDA (LTM)
8.8x
EV/EBITDA (ann.)
4.2x

Cash return

Dividend yield
1.2%
FCF yield (LTM)
6.1%

Liquidity

Daily turnover (US listing)
5.2 mln USD

Shares: sec_companyfacts/1288403

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 0 / Err: 11 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-09-30 Q3✗Errors 1Warn 3
2023-12-31 FY✗Errors 2Warn 1
2024-03-31 Q1✗Errors 2Warn 1
2024-06-30 Q2✗Errors 1Warn 2
2024-09-30 Q3✗Errors 2Warn 1
2024-12-31 FY✗Errors 2Warn 1
2025-03-31 Q1✗Errors 3Warn 4
2025-06-30 Q2✗Errors 1Warn 2
2025-09-30 Q3✗Errors 1Warn 2
2025-12-31 FY✗Errors 2Warn 2
2026-03-31 Q1✗Errors 4Warn 3
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusGWPM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK150.0
y/y 15.5%
14.6
y/y —
27.3
y/y -17.1%
41.9
y/y 70.0%
-22.5
y/y —
2.6-10.3959.2
y/y -6.4%
-221.8
y/y —
42.8%222.1Link
2025-12-31Q4 2025 (3M)OK121.7
y/y 1.1%
-19.1
y/y -12.4%
28.5
y/y -25.4%
9.4
y/y -55.7%
-27.1
y/y -16.1%
25.9—955.8
y/y -13.0%
-199.8
y/y —
80.6%212.0Link
2025-09-30Q3 2025 (3M)OK127.5
y/y 5.1%
-12.6
y/y —
28.6
y/y -16.4%
16.0
y/y 4.8%
-71.5
y/y —
26.5-20.9960.6
y/y -14.8%
-172.5
y/y —
69.3%227.4Link
2025-06-30Q2 2025 (3M)OK122.4
y/y -14.3%
-12.9
y/y —
26.4
y/y -27.9%
13.6
y/y -55.3%
-20.9
y/y —
28.0-10.81023.8
y/y -10.9%
-102.7
y/y -2152.4%
90.1%231.1Link
2025-03-31Q1 2025 (3M)OK129.9
y/y -7.8%
-8.2
y/y —
32.9
y/y -3.1%
24.6
y/y -27.4%
-30.6
y/y —
-3.2—1024.9
y/y -9.0%
-82.8
y/y -498.8%
180.7%245.8Link
2024-12-31Q4 2024 (3M)OK120.3
y/y —
-17.0
y/y —
38.2
y/y —
21.2
y/y —
-23.4
y/y —
-4.3-14.11098.9
y/y -1.4%
-52.6
y/y -268.6%
207.3%285.7Link
2024-09-30Q3 2024 (3M)OK121.4
y/y -14.8%
-19.0
y/y -209.7%
34.2
y/y 13.2%
15.2
y/y -67.9%
-36.9
y/y -1821.3%
14.8-9.61127.3
y/y 0.2%
-31.5
y/y -205.1%
371.5%267.5Link
2024-06-30Q2 2024 (3M)OK142.8
y/y —
-6.2
y/y —
36.7
y/y —
30.4
y/y —
-15.4
y/y —
37.4-6.81148.6
y/y —
5.0
y/y —
-477.8%270.0Link
2024-03-31Q1 2024 (3M)OK140.8
y/y —
0.0
y/y —
33.9
y/y —
33.9
y/y —
-11.5
y/y —
11.6-87.61126.5
y/y —
20.8
y/y —
-176.7%297.9Link
2023-12-31FY 2023 (12M)OK532.7
y/y —
29.5
y/y —
114.7
y/y —
144.2
y/y —
15.6
y/y —
35.7-81.61114.0
y/y —
31.2
y/y —
51.0%218.7Link
2023-09-30Q3 2023 (3M)OK142.4
y/y —
17.3
y/y —
30.2
y/y —
47.5
y/y —
2.1
y/y —
30.0-44.91125.4
y/y —
30.0
y/y —
—249.0Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
121 mln boe
2025
Reserve life (R/P)
9.8 yrs
reserves ÷ annual output
Annual production
12.40 mln boe
2025

Production, mln boe

17.05201515.37201614.57201713.33201814.83201915.39202013.91202114.62202212.73202312.18202412.4020253.262026

Proved reserves

YearReserves, mln boe
2025121
2024127
2023123
2022165.30
2021157.60
2020144.40
2019157.40
201884
201774.20

Production

YearProduction, mln boeper day
20263.26 *8 929
202512.40
+1.8%		33 978
202412.18
−4.3%		33 378
202312.73
−13.0%		34 877
202214.62
+5.1%		40 066
202113.91
−9.6%		38 118
202015.39
+3.8%		42 162
201914.83
+11.3%		40 633
201813.33
−8.5%		36 510

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

0501001502023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%-50%0%50%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-100-500501002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

01002003002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -5% vs -1% the year before — a -3.1 pp move. 3-year CAGR —.
revenue growth by year: 2024 -1% · 2025 -5%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 8.8x · 3-year average 7.1x

EV/EBITDA3-year 75th pct

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

34.0033.8333.6533.4733.3020242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves life (R/P): 9.8 yr

127.0125.5124.0122.5121.020242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-3134121——
2024-12-3133.3127——

Spot EBITDA forecast (next 12 months)

Model: apply spot-vs-LTM commodity price moves to LTM revenue mix (oil/gas/NGL). Purchased products scale with revenue; remaining cash expenses inflate (PPI proxy). Fair value: EBITDA at trailing ~3y average commodity prices, conservative used EBITDA (average of spot and 3y-avg when spot is higher), × 3y average EV/EBITDA − net debt.

Notes: Revenue mix derived from FY2025 10-K production volumes × realized sales prices (see Production & realized prices table below).
Spot 12M revenue
576 USDm
+8.7% vs LTM
Spot 12M EBITDA
101 USDm
+5.5% vs LTM
EV / Spot EBITDA
7.0x
current EV 709m ÷ spot EBITDA 101m
Show calculation
Line itemValue
1 · Reported baseline
LTM or latest FY revenue/EBITDA and revenue mix.
LTM revenue (last 4 quarters)530 USDm
LTM EBITDA (last 4 quarters)96 USDm
Baseline cash costs (revenue − EBITDA)434 USDm
Revenue mix: oil / gas / NGL / other66.6% / 29.2% / 4.1% / 0.0%
· Crude oil328 USDm (66.6% of implied)
· Natural gas144 USDm (29.2% of implied)
· NGLs20 USDm (4.1% of implied)
2 · Commodity prices
Spot move = last ÷ LTM average. 3y-avg-price EBITDA uses trailing ~3y mean ÷ LTM average.
Oil — spot & 3y avg vs LTMspot 84.65 · LTM avg 73.37 · 3y avg — → spot move +15.4%
Gas — spot & 3y avg vs LTMspot 3.18 · LTM avg 3.39 · 3y avg — → spot move -6.1%
NGL — spot & 3y avg vs LTMspot 5 295.00 · LTM avg 5 003.72 · 3y avg — → spot move +5.8%
3 · Cash cost model
Purchased products scale with revenue; other costs inflate.
Purchased products / revenue0.0%
PPI inflation multiplier (12m)1.094
→ Projected purchased cost (at spot revenue)0 USDm
→ Projected other cash cost (inflated)474 USDm
4 · Spot forward P&L
Headline spot cards use §4.
= Projected spot revenue576 USDm
= Spot EBITDA101 USDm
= EBITDA at 3y avg commodity prices43 USDm
5 · Valuation vs spot
Current EV vs spot EBITDA.
Enterprise value (current)709 USDm
EV ÷ Spot EBITDA7.0x
6 · Fair value & upside
Conservative used EBITDA × 3y average EV/EBITDA → fair market cap.
EBITDA at 3y avg commodity prices43 USDm
= Conservative used EBITDA72 USDm
Fair market cap (3y avg EV/EBITDA × used EBITDA − net debt)—

Flow: baseline → commodity prices → expense model → spot P&L → fair value (used EBITDA × 3y avg EV/EBITDA − net debt). Hover for formulas.

2025-12-31 · FY

Production & proved reserves

FY2025 average production and year-end proved reserves per W&T Offshore FY2025 results release.

Line itemAmount
Crude oil equivalent (net, Mboe/d)34
Proved reserves (net, MMboe)121

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Item 7, Production Volumes & Average Realized Sales Prices table (wti-20251231x10k.htm). Realised prices are reported before/excluding the effect of derivative settlements.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil5.1 MMBbls64.09 USD/bbl327.866.6%
Natural gas36,890 MMcf3.90 USD/Mcf143.929.2%
NGLs1.1 MMBbls17.88 USD/bbl20.44.1%
Total (implied product revenue)492.1100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)501.5USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)2.9USD mln
Depreciation, depletion & amortization116.4USD mln
General & administrative80USD mln
Income tax expense (benefit)50.9USD mln
Total costs and expenses (consolidated)554.3USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 comparatives per W&T Offshore FY2025 results release.

Line itemAmount
Crude oil equivalent (net, Mboe/d)33.3
Proved reserves (net, MMboe)127

Sources

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)525.3USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)2.8USD mln
Depreciation, depletion & amortization143USD mln
General & administrative82.4USD mln
Income tax expense (benefit)-10USD mln
Total costs and expenses (consolidated)567.5USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

No production / reserves detail wired for this fiscal year yet.

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)532.7USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)2.5USD mln
Depreciation, depletion & amortization114.7USD mln
General & administrative75.5USD mln
Interest expense44.7USD mln
Income tax expense (benefit)18.3USD mln
Total costs and expenses (consolidated)503.2USD mln

Primary SEC filing for this FY (HTML)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-210.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2026-03-190.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2025-11-190.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2025-08-180.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2025-05-200.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2025-03-170.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2024-11-210.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2024-08-200.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2024-05-230.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2024-03-150.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2023-11-270.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.wtoffshore.com/investors/

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)