Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 7
Key Information 7
Company Overview 7
W&T Offshore Inc, Valuation and Financial Data 8
W&T Offshore Inc, Share Price Performance 8
Share Price Performance, Q4, 2016-Q4, 2017 8
W&T Offshore Inc, Key Valuation Metrics 9
Key Valuation Metrics, Q4, 2016-Q4, 2017 9
W&T Offshore Inc, Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q4, 2016-Q4, 2017 10
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2016-Q4, 2017 11
W&T Offshore Inc, Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q4, 2016-Q4, 2017 12
W&T Offshore Inc, Quarterly Production Trends 13
W&T Offshore Inc, Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q4, 2016-Q4, 2017 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2016-Q4, 2017 15
W&T Offshore Inc, Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2016-Q4, 2017 16
Crude Oil Production, By Country/Region, Q4, 2016-Q4, 2017 17
W&T Offshore Inc, Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2016-Q4, 2017 18
Natural Gas Production, By Country/Region, Q4, 2016-Q4, 2017 19
W&T Offshore Inc, Valuation and Financial Data, 2013-2017 20
W&T Offshore Inc, Share Price Performance, 2013-2017 20
Share Price Performance, 2013-2017 20
Key Valuation Metrics, 2013-2017 21
W&T Offshore Inc, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2013-2017 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2013-2017 24
Total Crude Oil and Natural Gas Reserve Changes, 2013-2017 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2013-2017 27
Crude Oil Production and Reserves By Country/Region, 2013-2017 28
Crude Oil/Liquids Reserve Changes, 2013-2017 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2013-2017 31
Natural Gas Production and Reserves, By Country/Region, 2013-2017 33
Natural Gas Reserve Changes, 2013-2017 35
Total Crude Oil and Natural Gas Reserves Life Index 36
Total Crude Oil and Natural Gas Reserves Life Index, 2013-2017 36
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2013-2017 37
W&T Offshore Inc, E&P Costs Trends 39
Allocation of the Upstream Capital Expenditure 39
Upstream Capital Expenditure, 2013-2017 39
Exploration and Development Costs, By Country/Region, 2013-2017 42
Oil and Gas Cost Per boe, US$/boe 44
Oil and Gas Cost Per boe, US$/boe, 2013-2017 44
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2013-2017 46
W&T Offshore Inc, Reserve Replacement Ratio 48
Oil and Gas Production Replacement Ratio 48
Oil and Gas Production Replacement Ratio, 2013-2017 48
Oil and Gas Production Replacement Ratio, By Country/Region, 2013-2017 51
W&T Offshore Inc, Results of Oil & Gas Operations Trend 55
Oil and Gas Revenue and Expenses 55
Oil and Gas Revenue and Expenses, 2013-2017 55
Oil and Gas Revenue and Expenses, By Country/Region, 2013-2017 57
Oil and Gas Revenue and Expenses, Per boe 62
Oil and Gas Revenue and Expenses, By boe, 2013-2017 62
Oil and Gas Performance Metrics 67
W&T Offshore Inc, Land Holdings and Well Data 68
Developed and Undeveloped Acreage 68
Gross and Net Developed and Undeveloped Acreage, 2013-2017 68
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2013-2017 69
Well Statistics 72
Producible Oil and Gas Well, 2013-2017 72
Producible Oil and Gas Well, By Country/Region, 2013-2017 73
Exploration and Development Wells Drilled, 2013-2017 78
Exploration and Development Wells Drilled, By Country/Region, 2013-2017 80
Recent Developments 81
W&T Offshore Inc – Recent Developments 81
Aug 01, 2018: W&T Offshore announces second quarter 2018 operational and financial results and third quarter 2018 guidance 81
Jul 20, 2018: W&T Offshore Announces Promotion Of William Williford To Vice President 84
May 02, 2018: W&T Offshore Announces First Quarter 2018 Operational And Financial Results 85
Apr 30, 2018: W&T Offshore And Baker Hughes Announce Strategic Partnership For Joint Exploration & Development Program Of 14 Drilling Projects In Gulf Of Mexico 89
Mar 12, 2018: W&T Offshore Announces Gulf Of Mexico Joint Exploration And Development Program With Investor Group 89
Feb 28, 2018: W&T Offshore Announces Fourth Quarter 2017 Operational And Financial Results, Year-End 2017 Proved Reserves, 2018 Guidance And 2018 Capital Plan 91
Dec 15, 2017: Otto Energy: ST 224 #1 Well Result 96
Nov 29, 2017: Otto Energy: Drilling At St 224 Progressing As Planned – Nearing Target 97
Nov 01, 2017: W&T Offshore Announces Third Quarter 2017 Operational And Financial Results 98
Oct 20, 2017: Otto Energy Commences Drilling At ST 224 102
Appendix 103
Methodology 103
Coverage 103
Secondary Research 103
Primary Research 104
Data Information Sources 104
Company Source 104
SEC/Other Regulatory Filings 104
Other Sources 104
Expert Panel Validation 104
Data Definition 104
Oil and Gas Reserves 104
Units of Measure 105
About GlobalData 106
Disclosure 106
Disclaimer 106
Table 1: W&T Offshore Inc, Key Facts 7
Table 2: W&T Offshore Inc, Share Price Performance, Q4, 2016-Q4, 2017 8
Table 3: W&T Offshore Inc, Key Valuation Metrics, Q4, 2016-Q4, 2017 9
Table 4: W&T Offshore Inc, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2016-Q4, 2017 10
Table 5: W&T Offshore Inc, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2016-Q4, 2017 11
Table 6: W&T Offshore Inc, Upstream Capital Expenditure, Q4, 2016-Q4, 2017 12
Table 7: W&T Offshore Inc, Total Crude Oil and Natural Gas, Production, Q4, 2016-Q4, 2017 14
Table 8: W&T Offshore Inc, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2016-Q4, 2017 15
Table 9: W&T Offshore Inc, Total Crude Oil Production, mmbbl, Q4, 2016-Q4, 2017 16
Table 10: W&T Offshore Inc, Crude Oil Production, By Country/Region, mmbbl, Q4, 2016-Q4, 2017 17
Table 11: W&T Offshore Inc, Total Natural Gas Production, bcf, Q4, 2016-Q4, 2017 18
Table 12: W&T Offshore Inc, Natural Gas Production, By Country/Region, bcf, Q4, 2016-Q4, 2017 19
Table 13: W&T Offshore Inc, Share Price Performance, 2013-2017 20
Table 14: W&T Offshore Inc, Key Valuation Metrics, 2013-2017 21
Table 15: W&T Offshore Inc, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 23
Table 16: W&T Offshore Inc, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2013-2017 25
Table 17: W&T Offshore Inc, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013-2017 26
Table 18: W&T Offshore Inc, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 27
Table 19: W&T Offshore Inc, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2013-2017 29
Table 20: W&T Offshore Inc, Crude Oil Reserve Changes, mmbbl, 2013-2017 30
Table 21: W&T Offshore Inc, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 32
Table 22: W&T Offshore Inc, Natural Gas Production and Reserves, By Country/Region, bcf, 2013-2017 34
Table 23: W&T Offshore Inc, Natural Gas Reserve Changes, bcf, 2013-2017 35
Table 24: W&T Offshore Inc, Oil and Gas Reserves Life Index, Years, 2013-2017 36
Table 25: W&T Offshore Inc, Oil and Gas Reserves Life Index, By Country/Region, Years, 2013-2017 38
Table 26: W&T Offshore Inc, Upstream Capital Expenditure, US$ mil, 2013-2017 40
Table 27: W&T Offshore Inc, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2013-2017 41
Table 28: W&T Offshore Inc, Exploration and Development Costs, By Country/Region, US$ mil, 2013-2017 43
Table 29: W&T Offshore Inc, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2013-2017 45
Table 30: W&T Offshore Inc, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2013-2017 47
Table 31: W&T Offshore Inc, Oil and Gas Production Replacement Ratio, %, 2013-2017 49
Table 32: W&T Offshore Inc, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2013-2017 54
Table 33: W&T Offshore Inc, Revenue and Expenses, US$ mil, 2013-2017 56
Table 34: W&T Offshore Inc, Revenue and Expenses, By Country/Region, US$ mil, 2013-2017 61
Table 35: W&T Offshore Inc, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 62
Table 36: W&T Offshore Inc, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2013-2017 66
Table 37: W&T Offshore Inc, Oil and Gas Performance Metrics, 2013-2017 67
Table 38: W&T Offshore Inc, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 68
Table 39: W&T Offshore Inc, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2013-2017 71
Table 40: W&T Offshore Inc, Producible Oil and Gas Wells, 2013-2017 72
Table 41: W&T Offshore Inc, Producible Oil and Gas Wells, By Country/Region, 2013-2017 77
Table 42: W&T Offshore Inc, Exploratory and Developed Wells, 2013-2017 79
Table 43: W&T Offshore Inc, Exploratory and Developed Wells, By Country/Region, 2013-2017 80
List of Figures
Figure 1: W&T Offshore Inc, Share Price Performance, USD/Share, Q4, 2016-Q4, 2017 8
Figure 2: W&T Offshore Inc, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2016-Q4, 2017 9
Figure 3: W&T Offshore Inc, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2016-Q4, 2017 10
Figure 4: W&T Offshore Inc, Upstream Capital Expenditure, US$ mil, Q4, 2016-Q4, 2017 12
Figure 5: W&T Offshore Inc, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2016-Q4, 2017 13
Figure 6: W&T Offshore Inc, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2016-Q4, 2017 15
Figure 7: W&T Offshore Inc, Total Crude Oil Production, mmbbl, Q4, 2016-Q4, 2017 16
Figure 8: W&T Offshore Inc, Crude Oil Production, By Country/Region, mmbbl, Q4, 2016-Q4, 2017 17
Figure 9: W&T Offshore Inc, Total Natural Gas Production, bcf, Q4, 2016-Q4, 2017 18
Figure 10: W&T Offshore Inc, Natural Gas Production, By Country/Region, bcf, Q4, 2016-Q4, 2017 19
Figure 11: W&T Offshore Inc, Share Price Performance, USD/Share, 2013-2017 20
Figure 12: W&T Offshore Inc, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2013-2017 21
Figure 13: W&T Offshore Inc, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 22
Figure 14: W&T Offshore Inc, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2013-2017 24
Figure 15: W&T Offshore Inc, Total Oil & Gas Production, By Country/Region, mmboe, 2013-2017 24
Figure 16: W&T Offshore Inc, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2017 26
Figure 17: W&T Offshore Inc, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 27
Figure 18: W&T Offshore Inc, Oil Reserves, End of Period, By Country/Region, mmbbl, 2013-2017 28
Figure 19: W&T Offshore Inc, Oil Production, By Country/Region, mmbbl, 2013-2017 28
Figure 20: W&T Offshore Inc, Crude Oil Reserve Changes, mmbbl, 2017 30
Figure 21: W&T Offshore Inc, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 31
Figure 22: W&T Offshore Inc, Gas Reserves, End of Period, By Country/Region, bcf, 2013-2017 33
Figure 23: W&T Offshore Inc, Gas Production, By Country/Region, bcf, 2013-2017 33
Figure 24: W&T Offshore Inc, Natural Gas Reserve Changes, bcf, 2017 35
Figure 25: W&T Offshore Inc, Oil and Gas Reserves Life Index, Years, 2013-2017 36
Figure 26: W&T Offshore Inc, Gas Reserve Life Index, By Country/Region, Years, 2013-2017 37
Figure 27: W&T Offshore Inc, Oil & Gas Reserve Life Index, By Country/Region, Years, 2013-2017 37
Figure 28: W&T Offshore Inc, Oil Reserve Life Index, By Country/Region, Years, 2013-2017 38
Figure 29: W&T Offshore Inc, Upstream Capital Expenditure, US$ mil, 2013-2017 39
Figure 32: W&T Offshore Inc, Development Costs, By Country/Region, US$ mil, 2013-2017 42
Figure 33: W&T Offshore Inc, Exploration Costs, By Country/Region, US$ mil, 2013-2017 42
Figure 34: W&T Offshore Inc, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2013-2017 44
Figure 35: W&T Offshore Inc, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 46
Figure 36: W&T Offshore Inc, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 46
Figure 37: W&T Offshore Inc, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 47
Figure 38: W&T Offshore Inc, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2013-2017 48
Figure 39: W&T Offshore Inc, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2013-2017 51
Figure 40: W&T Offshore Inc, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2013-2017 51
Figure 41: W&T Offshore Inc, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2013-2017 52
Figure 42: W&T Offshore Inc, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2013-2017 52
Figure 43: W&T Offshore Inc, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2013-2017 53
Figure 44: W&T Offshore Inc, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2013-2017 53
Figure 45: W&T Offshore Inc, Revenue and Expenses, US$ mil, 2013-2017 55
Figure 46: W&T Offshore Inc, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 57
Figure 48: W&T Offshore Inc, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 58
Figure 49: W&T Offshore Inc, Oil & Gas Revenue, By Country/Region, US$ mil, 2013-2017 58
Figure 50: W&T Offshore Inc, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 59
Figure 51: W&T Offshore Inc, Production Costs, By Country/Region, US$ mil, 2013-2017 59
Figure 52: W&T Offshore Inc, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 60
Figure 53: W&T Offshore Inc, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 62
Figure 55: W&T Offshore Inc, Lifting Cost per boe, By Country/Region, US$/boe, 2013-2017 63
Figure 56: W&T Offshore Inc, Annual Net Income per boe, By Country/Region, US$/boe, 2013-2017 63
Figure 57: W&T Offshore Inc, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2013-2017 64
Figure 58: W&T Offshore Inc, Total DD&A per boe, By Country/Region, US$/boe, 2013-2017 64
Figure 59: W&T Offshore Inc, Total Revenue per boe, By Country/Region, US$/boe, 2013-2017 65
Figure 60: W&T Offshore Inc, Oil and Gas Performance Metrics, 2013-2017 67
Figure 61: W&T Offshore Inc, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 68
Figure 62: W&T Offshore Inc, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2013-2017 69
Figure 63: W&T Offshore Inc, Total Net Undeveloped Acreage, By Country/Region, Acres, 2013-2017 69
Figure 64: W&T Offshore Inc, Total Gross Developed Acreage, By Country/Region, Acres, 2013-2017 70
Figure 65: W&T Offshore Inc, Total Net Developed Acreage, By Country/Region, Acres, 2013-2017 70
Figure 66: W&T Offshore Inc, Producible Oil and Gas Wells, 2013-2017 72
Figure 67: W&T Offshore Inc, Gross Productive Gas Wells, By Country/Region, Number, 2013-2017 73
Figure 68: W&T Offshore Inc, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 73
Figure 69: W&T Offshore Inc, Gross Productive Oil Wells, By Country/Region, Number, 2013-2017 74
Figure 70: W&T Offshore Inc, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2013-2017 74
Figure 71: W&T Offshore Inc, Net Productive Gas Wells, By Country/Region, Number, 2013-2017 75
Figure 72: W&T Offshore Inc, Net Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 75
Figure 73: W&T Offshore Inc, Net Productive Oil Wells, By Country/Region, Number, 2013-2017 76
Figure 74: W&T Offshore Inc, Exploratory and Developed Wells, 2013-2017 78