PART I – FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents W&T Offshore, Inc.'s unaudited condensed consolidated financial statements for Q1 2025 and 2024, highlighting a net loss of **$30.6 million** in Q1 2025 driven by lower revenues and a debt extinguishment loss Condensed Consolidated Balance Sheet Highlights (In thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$1,024,946** | **$1,098,930** | | Cash and cash equivalents | $105,933 | $109,003 | | Total current assets | $221,930 | $218,458 | | Oil and natural gas properties, net | $691,788 | $777,741 | | **Total Liabilities and Shareholders' Deficit** | **$1,024,946** | **$1,098,930** | | Total current liabilities | $187,931 | $246,084 | | Long-term debt, net | $349,481 | $365,935 | | Asset retirement obligations | $532,753 | $502,506 | | Total shareholders' deficit | ($82,796) | ($52,577) | Condensed Consolidated Statements of Operations (In thousands) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Total revenues | $129,867 | $140,787 | | Total operating expenses | $138,111 | $140,791 | | Operating loss | ($8,244) | ($4) | | Loss on extinguishment of debt | $15,015 | $— | | Net loss | ($30,577) | ($11,474) | | Net loss per common share (basic and diluted) | ($0.21) | ($0.08) | Condensed Consolidated Statements of Cash Flows (In thousands) | Cash Flow Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($3,196) | $11,642 | | Net cash provided by (used in) investing activities | $63,267 | ($87,619) | | Net cash used in financing activities | ($63,141) | ($2,539) | | Change in cash, cash equivalents and restricted cash | ($3,070) | ($78,516) | [Note 1 — Nature of Operations and Basis of Presentation](index=7&type=section&id=Note%201%20%E2%80%94%20NATURE%20OF%20OPERATIONS%20AND%20BASIS%20OF%20PRESENTATION) W&T Offshore, Inc. is an independent oil and natural gas producer primarily operating offshore in the Gulf of America, with financial statements prepared under GAAP and SEC regulations - The company is an independent oil and natural gas producer with operations primarily in the Gulf of America, focusing on exploration, development, and acquisition[19](index=19&type=chunk) [Note 2 — Financial Instruments](index=7&type=section&id=Note%202%20%E2%80%94%20FINANCIAL%20INSTRUMENTS) This note details the company's financial instruments, including derivative contracts for natural gas price hedging and fair value of debt estimated using Level 2 inputs Open Henry Hub (NYMEX) Derivative Contracts as of March 31, 2025 | Period | Instrument Type | Daily Volumes (Mmbtu) | Total Volumes (Mmbtu) | Weighted Floor Price ($/Mmbtu) | Weighted Ceiling Price ($/Mmbtu) | | :--- | :--- | :--- | :--- | :--- | :--- | | Apr 2025 - Dec 2025 | costless collar | 70,000 | 19,250,000 | $4.02 | $5.32 | | Apr 2025 - Dec 2025 | puts | 62,182 | 17,100,000 | $2.27 | N/A | | Jan 2026 - Dec 2026 | puts | 55,890 | 20,400,000 | $2.35 | N/A | | Jan 2027 - Dec 2027 | puts | 52,603 | 19,200,000 | $2.37 | N/A | | Jan 2028 - Apr 2028 | puts | 49,587 | 6,000,000 | $2.50 | N/A | - For Q1 2025, the company recorded a net derivative loss of **$2.76 million**, compared to a net gain of **$4.88 million** in Q1 2024[26](index=26&type=chunk) [Note 3 — Asset Retirement Obligations](index=10&type=section&id=Note%203%20%E2%80%94%20ASSET%20RETIREMENT%20OBLIGATIONS) Asset Retirement Obligations increased to **$561.9 million** in Q1 2025, primarily due to accretion expense and revisions of estimated liabilities Changes in Asset Retirement Obligations (In thousands) | Description | Three Months Ended March 31, 2025 | | :--- | :--- | | Beginning Balance | $548,832 | | Liabilities settled | ($3,771) | | Accretion expense | $8,392 | | Liabilities incurred | $1,029 | | Revisions of estimated liabilities | $7,369 | | **Ending Balance** | **$561,851** | [Note 4 — Debt](index=10&type=section&id=Note%204%20%E2%80%94%20DEBT) The company completed a **$350.0 million** debt refinancing in January 2025, resulting in a **$15.1 million** loss on extinguishment and establishing a new **$50.0 million** revolving credit facility - On January 28, 2025, the Company issued **$350.0 million** of 10.75% Senior Second Lien Notes due 2029[30](index=30&type=chunk) - Net proceeds were used to purchase tendered 11.75% Notes, repay the **$114.2 million** Term Loan, and fund the redemption of the remaining 11.75% Notes[35](index=35&type=chunk) - The refinancing transactions were accounted for as an extinguishment, resulting in a recognized loss of **$15.1 million** in Q1 2025[38](index=38&type=chunk) - The company entered into a new Credit Agreement for a **$50.0 million** revolving credit facility maturing in July 2028, with no borrowings outstanding as of March 31, 2025[39](index=39&type=chunk)[46](index=46&type=chunk) [Note 5 — Commitments and Contingencies](index=15&type=section&id=Note%205%20%E2%80%94%20COMMITMENTS%20AND%20CONTINGENCIES) The company faces significant legal and regulatory matters, including **$254.7 million** in demanded collateral from surety providers and **$21.4 million** in contingent decommissioning obligations - The company is in litigation with multiple surety providers who have demanded approximately **$183.7 million** in collateral, with an additional provider demanding **$71 million**, bringing the total Demanded Collateral to approximately **$254.7 million**[55](index=55&type=chunk) - The company is appealing a **$4.7 million** disallowance of royalty reductions by the ONRR and has accrued **$5.0 million** for this matter, including estimated penalties[47](index=47&type=chunk) - As of March 31, 2025, the company has an accrual of **$21.4 million** for contingent decommissioning obligations related to properties previously divested or held by bankrupt third parties[62](index=62&type=chunk)[63](index=63&type=chunk) [Note 6 — Stockholders' Equity](index=19&type=section&id=Note%206%20%E2%80%94%20STOCKHOLDERS%27%20EQUITY) The company declared and paid a **$0.01** per share quarterly dividend totaling **$1.5 million** for Q1 2025, with a similar dividend declared for Q2 2025 - A quarterly dividend of **$0.01** per share (**$1.5 million** total) was paid on March 24, 2025[66](index=66&type=chunk) - A subsequent quarterly dividend of **$0.01** per share was declared on May 6, 2025, to be paid on May 27, 2025[67](index=67&type=chunk) [Note 7 — Income Taxes](index=21&type=section&id=Note%207%20%E2%80%94%20INCOME%20TAXES) The effective tax rate was **13.1%** for Q1 2025, influenced by nondeductible compensation and a **$30.9 million** valuation allowance against deferred tax assets - The effective tax rate was **13.1%** for Q1 2025 and **(10.0%)** for Q1 2024, differing from the federal statutory rate mainly due to nondeductible compensation and valuation allowance adjustments[69](index=69&type=chunk) - As of March 31, 2025, the company maintained a valuation allowance of **$30.9 million** against its deferred tax assets[70](index=70&type=chunk) [Note 8 — Net Loss Per Common Share](index=21&type=section&id=Note%208%20%E2%80%94%20NET%20LOSS%20PER%20COMMON%20SHARE) The company reported a net loss per common share of **$0.21** for Q1 2025, based on a **$30.6 million** net loss and **147.6 million** weighted average shares outstanding Net Loss Per Common Share Calculation | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net loss (in thousands) | $(30,577) | $(11,474) | | Weighted average common shares outstanding (in thousands) | 147,598 | 146,857 | | **Net loss per common share (basic and diluted)** | **$(0.21)** | **$(0.08)** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 financial performance, noting decreased revenues to **$129.9 million** due to lower production and oil prices, a **$15.1 million** debt extinguishment loss, and sufficient liquidity of **$105.9 million** cash and a **$50.0 million** credit facility [Business Overview](index=26&type=section&id=BUSINESS%20OVERVIEW) W&T Offshore, an independent oil and gas producer, received **$11.9 million** from asset sales and **$58.5 million** from insurance, while completing a **$350.0 million** debt refinancing and securing a new **$50.0 million** credit facility - In January 2025, the company received **$11.9 million** for the sale of a non-core interest and **$58.5 million** from an insurance claim settlement[88](index=88&type=chunk) - The company executed a major debt refinancing in January 2025, issuing **$350.0 million** of 10.75% Notes due 2029 to redeem its 11.75% Notes and repay its Term Loan[90](index=90&type=chunk)[91](index=91&type=chunk) [Regulatory Update](index=28&type=section&id=Regulatory%20Update) The company views recent Trump administration executive orders and Department of Interior filings as positive for reducing regulatory burdens and financial assurance requirements in the Gulf of America - The Trump administration issued executive orders in early 2025 aimed at reducing the regulatory burden on domestic energy companies[96](index=96&type=chunk)[99](index=99&type=chunk) - The Department of Interior indicated it will not seek supplemental financial assurance in the Gulf of America except for sole liability properties and certain other specific cases, which is viewed as a positive development by the company[97](index=97&type=chunk) [Results of Operations](index=30&type=section&id=RESULTS%20OF%20OPERATIONS) Q1 2025 total revenues decreased to **$129.9 million** due to lower production and oil prices, resulting in an operating loss of **$8.2 million** and a net loss of **$30.6 million** including a debt extinguishment loss Revenues and Production Volumes Comparison | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Revenues (in thousands) | $129,867 | $140,787 | | Total Production (MBoe) | 2,744 | 3,199 | | Avg. Realized Oil Price ($/Bbl) | $71.31 | $76.44 | | Avg. Realized NGL Price ($/Bbl) | $23.86 | $21.78 | | Avg. Realized Nat Gas Price ($/Mcf) | $4.45 | $2.48 | - Production volumes decreased by **0.5 MMBoe (14%)** YoY, primarily due to deferred production at Mobile Bay properties and shut-ins at other fields[106](index=106&type=chunk) Operating Expenses Comparison (per Boe) | Expense Category ($/Boe) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Lease operating expenses | $25.88 | $22.14 | | Gathering, transportation and production taxes | $2.06 | $2.36 | | Depreciation, depletion and amortization | $11.99 | $10.61 | | General and administrative expenses | $7.35 | $6.41 | | **Total operating expenses** | **$50.34** | **$44.01** | - A loss on debt extinguishment of **$15.1 million** was recorded in Q1 2025 related to the debt refinancing[117](index=117&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity includes **$105.9 million** cash and a **$50.0 million** credit facility, with Q1 2025 showing **$3.2 million** net cash used in operations and **$8.9 million** in capital expenditures - As of March 31, 2025, the company had **$105.9 million** of unrestricted cash and **$50.0 million** available under its credit facility[122](index=122&type=chunk) Cash Flow Summary (In thousands) | Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Operating activities | ($3,196) | $11,642 | | Investing activities | $63,267 | ($87,619) | | Financing activities | ($63,141) | ($2,539) | Capital Expenditures (In thousands) | Category | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Exploration and development | $7,555 | $3,022 | | Acquisitions of interests | $400 | $80,515 | | Seismic and other | $917 | $134 | | **Total (accrual basis)** | **$8,872** | **$83,671** | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk primarily stems from commodity price fluctuations, with a hypothetical **10%** price decline impacting Q1 2025 revenue by **$12.8 million**, partially mitigated by natural gas derivatives - A hypothetical **10%** decline in average realized sales prices for oil, NGL, and natural gas in Q1 2025 would have reduced revenue by approximately **$12.8 million**[138](index=138&type=chunk) Impact of Derivatives on Realized Natural Gas Prices ($/Mcf) | Description | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Average realized sales price (pre-derivatives) | $4.45 | $2.48 | | Effects of realized commodity derivatives | ($0.46) | $0.43 | | **Average realized sales price (post-derivatives)** | **$3.99** | **$2.91** | [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures are effective as of March 31, 2025, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that as of March 31, 2025, the company's disclosure controls and procedures are effective[142](index=142&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended March 31, 2025[143](index=143&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 5 of the financial statements for detailed information regarding the company's ongoing legal proceedings - Information on legal proceedings is detailed in Part I, Item 1, Note 5 – Commitments and Contingencies[145](index=145&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) The company identifies changes in U.S. trade policy and potential **10%** tariffs as a risk factor that could decrease commodity demand, increase operating costs, and cause market volatility - A new risk factor is identified related to changes in U.S. trade policy and tariffs, which could adversely affect business operations and financial results[147](index=147&type=chunk) - Specifically, a **10%** tariff on product imports announced on April 2, 2025, could decrease demand for commodities, increase operating costs, and cause financial market volatility[147](index=147&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities or use of proceeds to report for the period - None[149](index=149&type=chunk) [Item 5. Other Information](index=42&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the first quarter of 2025 - No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the quarter[152](index=152&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents, debt indentures, credit agreements, and officer certifications

Company Performance - W&T Offshore reported a quarterly loss of $0.13 per share, slightly better than the Zacks Consensus Estimate of a loss of $0.14, compared to a loss of $0.05 per share a year ago, indicating an earnings surprise of 7.14% [1] - The company posted revenues of $129.87 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.89%, but down from $140.79 million in the same quarter last year [2] - Over the last four quarters, W&T has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Outlook - W&T shares have declined approximately 30.7% since the beginning of the year, contrasting with the S&P 500's decline of 3.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $132.42 million, and for the current fiscal year, it is -$0.40 on revenues of $555.62 million [7] - The estimate revisions trend for W&T is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Oil and Gas - Exploration and Production - United States industry is currently in the bottom 24% of over 250 Zacks industries, suggesting that the outlook for the industry can significantly impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Production and Sales - W&T Offshore produced 30.5 MBoe/d in Q1 2025, with 52% being liquids, towards the high end of guidance[2] - The average realized price per Boe was $46.50 in Q1 2025, a 17% increase from Q4 2024[4] - Oil revenues were $87.716 million, while natural gas revenues increased to $35.109 million, up from $24.203 million in the previous quarter, indicating a significant growth in natural gas sales[39] - Net sales volumes for oil decreased to 1,230 MBbls in Q1 2025 from 1,263 MBbls in Q4 2024, and natural gas sales volumes decreased to 7,884 MMcf from 8,505 MMcf[41] - Average realized sales price for oil increased to $71.31 per Bbl in Q1 2025 from $68.71 per Bbl in Q4 2024, while natural gas prices rose to $4.45 per Mcf from $2.85 per Mcf[41] Financial Performance - The company reported a net loss of $30.6 million, or $(0.21) per diluted share, with an Adjusted Net Loss of $19.1 million, or $(0.13) per diluted share[2] - Adjusted EBITDA for Q1 2025 was $32.2 million, a 2% increase from Q4 2024[2] - Revenues for Q1 2025 were $129.9 million, an 8% increase from Q4 2024, but an 8% decrease compared to Q1 2024[6][7] - Operating loss for Q1 2025 was $8.244 million, an improvement from a loss of $16.990 million in the previous quarter[39] - The company reported a net loss of $30,577,000 in Q1 2025, compared to a net loss of $23,362,000 in Q4 2024 and $11,474,000 in Q1 2024[44] - Adjusted net loss for Q1 2025 was $19,084,000, improving from $26,193,000 in Q4 2024[50] Expenses and Liabilities - Lease Operating Expenses (LOE) were $71.0 million, below the low end of guidance, and approximately 11% higher than Q4 2024[8] - Lease operating expenses for Q1 2025 were $71.012 million, up from $64.259 million in the previous quarter[39] - The company’s total current liabilities decreased to $187,931,000 in Q1 2025 from $246,084,000 in Q4 2024[43] - Interest expense, net, was $9,492,000 for the quarter, slightly down from $10,226,000 in the previous quarter[54] Cash Flow and Capital Expenditures - Capital expenditures for Q1 2025 were $8.5 million, with a full-year budget expected between $34 million and $42 million[17][18] - Free Cash Flow improved to $10,483,000 for the three months ended March 31, 2025, compared to a negative Free Cash Flow of $(10,188,000) in the previous quarter[55] - The company generated $63,267,000 in net cash from investing activities in Q1 2025, compared to a net cash used of $14,143,000 in Q4 2024[44] - Proceeds from the issuance of long-term debt amounted to $350,000,000 in Q1 2025, while repayments of long-term debt were $384,264,000[44] Assets and Equity - Total assets decreased to $1,024,946,000 as of March 31, 2025, down from $1,098,930,000 at the end of 2024[43] - Cash and cash equivalents at the end of Q1 2025 were $105,933,000, slightly down from $109,003,000 at the end of Q4 2024[43] - W&T had unrestricted cash and cash equivalents of $105.9 million and Net Debt of $244.1 million as of March 31, 2025[5][19] Dividends - The company declared a second quarter 2025 dividend of $0.01 per share, payable on May 27, 2025[1][5] - The company declared a dividend of $0.01 per share for Q2 2025, to be paid on May 27, 2025[27] Operational Activities - The company performed five workovers in Q1 2025, which positively impacted production, and plans to continue these low-cost operations[28] - Production guidance for Q2 2025 is set at 1,295 to 1,435 MBbl for oil and 8,830 to 9,750 MMcf for natural gas, with total equivalents expected to be between 2,977 and 3,295 MBoe[30] Tax and Regulatory - The company expects to defer substantially all income taxes in 2025[30] - The company reported a current tax expense of $902,000 for the three months ended March 31, 2025, compared to $92,000 in the previous quarter[55]

Core Viewpoint - W&T Offshore, Inc. reported operational and financial results for Q1 2025, highlighting production achievements, financial metrics, and strategic initiatives, including a declared dividend of $0.01 per share for Q2 2025 [1][3]. Financial Performance - The company produced 30.5 MBoe/d (52% liquids), near the high end of guidance, but down from 32.1 MBoe/d in Q4 2024 and 35.1 MBoe/d in Q1 2024 [2][3]. - Revenues for Q1 2025 were $129.9 million, an 8% increase from $120.3 million in Q4 2024 but an 8% decrease from $140.8 million in Q1 2024 [5]. - The net loss for Q1 2025 was $30.6 million, or $(0.21) per diluted share, with an adjusted net loss of $19.1 million, or $(0.13) per diluted share [2][5]. Operational Highlights - Lease operating expenses (LOE) were $71.0 million, below the low end of guidance, and approximately 11% higher than $64.3 million in Q4 2024 [6]. - The average realized price per Boe was $46.50, a 17% increase from $39.86 in Q4 2024 [4][39]. - The company successfully refinanced $275.0 million of Senior Second Lien Notes and reduced gross debt by approximately $39.0 million [2][3]. Strategic Initiatives - W&T entered into a new $50.0 million revolving credit facility, maturing in July 2028, and eliminated principal payments under the MRE Term Loan [2][3]. - The company sold a non-core interest in Garden Banks Blocks 385 and 386 for $11.9 million, enhancing liquidity [2][20]. - The company added natural gas costless collar hedges for 2025, with various floor and ceiling prices [11]. Regulatory Environment - The change in presidential administration has led to promising developments in the oil and gas regulatory environment, including executive orders aimed at reducing regulatory burdens [21][23]. - The Department of Interior indicated it would not seek supplemental financial assurance in the Gulf of America under certain conditions [22]. Future Guidance - The company provided production and expense guidance for Q2 and full year 2025, expecting total equivalents of 2,977 – 3,295 MBoe for Q2 and 11,983 – 13,257 MBoe for the full year [26][27].

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading activities [1]. Group 1 - The website provides general news, publications, and personal analysis intended for educational and research purposes [1]. - It does not constitute any recommendation or advice for taking action, including making investments or purchasing products [1]. - Users are advised to perform their own due diligence checks and apply their discretion when making financial decisions [1]. Group 2 - The information on the website may not be provided in real-time and is not necessarily accurate [1]. - Prices may be provided by market makers rather than exchanges, indicating potential discrepancies [1]. - The website includes advertisements and promotional content, with the company potentially receiving compensation from third parties [1].

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your ...

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Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading activities [1]. Group 1 - The website provides general news and publications, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - The content is not tailored to individual financial situations or needs, highlighting the necessity for users to apply their own discretion [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - Users are encouraged to perform their own research before making investment decisions, particularly regarding instruments they do not fully understand [1].

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your ...

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your ...