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W&T Offshore, Inc., is a an independent oil and natural gas company headquartered in Houston, Texas, United States. Founded in 1983 by Tracy Krohn, the company has focused on the Gulf of Mexico area and holds working interests in 47 offshore fields in both federal and state waters.

History
W&T was founded in 1983 by Tracy Krohn with $12,000. In 1985, the first production property was bought for $500,000.

1988 marked the purchase of the first Offshore Property. From there on to 1993, 14 acquisitions were completed. Over 30 wells on turnkey contracts were drilled for other companies from 1995-1996.

On 1996, the purchase of Columbia Gas Development Co. with Hunt Petroleum was completed for $195 million.

Starting in 2005, W&T completed IPO and began trading on the NYSE.

Divestitures such as the Yellow Rose Field were completed in the Permian Basin for $376 million in 2015.

As of 2019, the company holds the second-largest basin in the US (with about 20% of the total production in 2018).

In June 2019, W&T discovered the Gladden Deep well. The well was drilled in approximately 3,000ft of water, that encountered 201ft of net oil pay. Operating it, the company owns a 17.25% stake in the discovery.

On July, W&T acquired ExxonMobil's Mobile Bay area assets in a purchase and sale agreement with ExxonMobile Corp. The operatorship of nine oil and gas producing properties located to eastern Gulf of Mexico, offshore Alabama, and related onshore processing facilities was purchased for $200 million.

In March 2020, the company was awarded 15 leases in the first sale; seven leases located in shallow water and 8 leases in deepwater.

On April 11, 2022, W&T announced that Shahid A. Ghauri, Vice President, General Counsel and Corporate Secretary is leaving the company. Nadege Assale, who has served as Assistant General Counsel for the past two years, will assume the role of Acting General Counsel until Ghauri's successor is decided.

Revenue
On June 29, 2008, the market cap of W&T Offshore reached an all-high of $4.47 Billion.

In 2018, revenues decreased 10% to $134.70 million in the second quarter from $149.61 and up 16% sequentially.

W&T posted revenues of $165.59 million for the year-end results of 2021. This compares to year-ago revenues of $94.75 million.

From March-April 2022, the company has risen from 16 cents per share to 21 cents per share, while current year estimates have risen from 77 cents per share to $1.32 per share.

Current 2022 Year-to-Date currently shows an uprise with a 36.53% increase.

As of April 2022, W&T is ranked the world's 4702th most valuable company with a market cap of $0.62 Billion. It is also placed #3 in Zacks.

Incident
On Thursday, January 3, 2013, W&T Offshore plead guilty and was sentenced for the violation of Title 33, United States Code, Section 1319(c)(4) by tampering and falsifying a monitoring method maintained under the Clean Water Act, as well as a misdemeanor count of the violation of Title 33, United States Code, Section 1319(c)(1)(a) for negligent discharge of oil into the waters of the United States.

The case resulted a total monetary penalty of $1 Million with $700,000 designated as fines and $300,000 designated as community service payments. The company was then placed on a three year probation on which the majority of its 107 offshore facilities be examined by the Safety and Environmental Management Systems (SEMS), as described in Title 30, C.F.R. Part 250.