W&T Offshore (WTI) Q1 2025 Earnings Call May 07, 2025 12:00 PM ET Company Participants Al Petrie - Investor Relations CoordinatorTracy Krohn - Founder, Chairman, CEO & PresidentDerrick Whitfield - Managing DirectorJeffrey Robertson - Managing DirectorWilliam Williford - EVP and COO Conference Call Participants John White - MD & Senior Research Analyst Operator Ladies and gentlemen, thank you for standing by. Welcome to the W and T Offshore First Quarter twenty twenty five Conference Call. During today's cal ...

W&T Offshore (WTI) Q1 2025 Earnings Call May 07, 2025 12:00 PM ET Speaker0 Ladies and gentlemen, thank you for standing by. Welcome to the W and T Offshore First Quarter twenty twenty five Conference Call. During today's call, all parties will be in listen only mode. Following the company's prepared comments, the call will be opened for question and answers. During the question and answer session, we ask that you limit your questions to one and a follow-up. This conference is being recorded and a replay wil ...

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Core Viewpoint - W&T Offshore Inc. reported a narrower loss in Q1 2025 compared to estimates, but the loss increased year-over-year, with total revenues beating estimates but declining from the previous year [1][2]. Financial Performance - The company reported a loss of 13 cents per share, better than the Zacks Consensus Estimate of a loss of 14 cents, but worse than the prior year's loss of 5 cents per share [1]. - Total quarterly revenues were $129.9 million, exceeding the Zacks Consensus Estimate of $125 million, but down from $141 million in the same quarter last year [1]. Production Statistics - Average production for the quarter was 30.5 thousand barrels of oil equivalent per day (MBoe/d), down from 35.1 MBoe/d in Q1 2024, affected by freezing conditions [3]. - Oil production totaled 1,230 thousand barrels (MBbls), a decrease from 1,400 MBbls year-over-year, missing the estimate of 1,236 MBbls [3]. - Natural gas liquids output was 200 MBbls, down from 343 MBbls in the prior year, missing the estimate of 224 MBbls [4]. - Natural gas production was 7,884 million cubic feet (MMcf), lower than 8,733 MMcf in the previous year but above the estimate of 7,734 MMcf [4]. Realized Commodity Prices - The average realized price for oil was $71.31 per barrel, down from $76.44 year-over-year, but above the estimate of $69.03 [5]. - The average realized price of natural gas increased to $4.45 per thousand cubic feet from $2.48 in the prior year, exceeding the estimate of $4.34 [6]. - The average realized price for oil-equivalent output rose to $46.50 per barrel from $42.55 a year ago, surpassing the estimate of $44.91 [6]. Operating Expenses - Lease operating expenses increased to $25.88 per Boe from $22.14 in the prior year, lower than the estimate of $26.40 per Boe [7]. - General and administrative expenses rose to $7.35 per Boe from $6.41 year-over-year, higher than the estimate of $7.22 per Boe [7]. Cash Flow - Net cash used in operations was $3.2 million, compared to $11.6 million net cash provided in the prior year [8]. - Free cash flow decreased to $10.5 million from $32.4 million in the same quarter last year [8]. Capital Spending & Balance Sheet - W&T Offshore spent $8.5 million on oil and gas resources and equipment [10]. - As of March 31, 2025, cash and cash equivalents totaled $105.9 million, with net long-term debt at $349.5 million [10]. Guidance - For Q2 2025, production is expected to be between 2,977-3,295 Mboe, with full-year production anticipated to remain in the range of 11,983-13,257 Mboe [11]. - Lease operating expenses for Q2 are projected to be between $71.3-$78.9 million, with full-year expenses expected in the range of $280-$310 million [11]. - Full-year capital expenditures are anticipated to be between $34-$42 million [11].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ________________ Commission File Number 1-32414 W&T OFFSHORE, INC. (Exact name of registrant as specified in its charter) Texas 72-1121985 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) For the quarterly period ended ...

W&T Offshore (WTI) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.14%. A quarter ago, it was expected that this independent oil and gas company would post a loss of $0.18 per share when it actually produced a loss of $0.18, delivering no surprise.Over the last four quarters, the company ha ...

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]

HOUSTON, May 06, 2025 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T,” the “Company,” “we” or “us”) today reported operational and financial results for the first quarter of 2025 and declared a second quarter 2025 dividend of $0.01 per share. This press release includes non-GAAP financial measures, including Adjusted Net Loss, Adjusted EBITDA, Free Cash Flow and Net Debt, which are described and reconciled to the most comparable GAAP measures in the accompanying tables to this press release under ...

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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 ...