W & T Offshore Inc

NYSE:WTI   3:59:59 PM EDT
+0.08 (+4.88%)
Debt Financing / Related, Other Pre-Announcement, Special Events

W&T Offshore Provides Operational Update And Announces Timing Of Third Quarter Earnings Reporting

Published: 10/05/2020 21:42 GMT
W&T Offshore Inc (WTI) - W&t Offshore Provides Operational Update and Announces Timing of Third Quarter Earnings Reporting.
W&t Offshore - Production Across Gulf of Mexico Has Been Significantly Impacted by an Extraordinary Six Named Storms Thus Far in This Hurricane Season.
W&t Offshore Inc - Company Currently Estimates Its Q3 2020 Volumes Will Average 32,500 to 33,900 Barrels of Oil Equivalent per Day.
W&t Offshore Inc - Expects That Its Overall Costs and Expenses for Q3 and Full Year 2020 Will Be In-line With Guidance It Previously Provided.
W&t Offshore Inc - During Quarter Incurred About $5 Million in Additional Costs Related to Repairs and Restoring Production Following Multiple Shut-ins.
W&t Offshore Inc - Sees Q4 Production Will Average 31,500 to 35,000 Boe/d Which Includes Ongoing Impact From Prior Storms and Other Planned Shut-ins.
W&t Offshore Inc - Did Not Experience Any Material Damage to Any of Its Platforms Or Infrastructure From Series of Storms.