History

W&T Offshore was founded in 1983. We are an independent oil and natural gas producer active in the acquisition, exploration and development of properties in the Gulf of Mexico. With our Founder & CEO, Tracy Krohn, at the helm for the past 31 years we have developed significant technical expertise and have successfully discovered and produced properties on the conventional shelf and in the deepwater across the Gulf of Mexico. In 2015, we sold the West Texas Permian Basin properties that had been acquired in 2011. In 2005, we began trading on the NYSE under ticker symbol “WTI” and are now headquartered in Houston, Texas.

W&T’s growth in the deepwater Gulf of Mexico has been significant in recent years. Between 2009 and 2015, average deepwater production has grown nearly 700% and SEC proved reserves are up over 850%. Gross Acres have increased ~200% from 2009 to 2015.  We define a deepwater property as one in over 500 feet of water.

Deepwater success including recent large oil discoveries will add significant value over the next several years.

• Our ~300,000 gross acres in the deepwater GOM currently generate ~46% of our total daily production and have great prospectivity.
• In 2015, we made three significant deepwater discoveries that were all brought online within a few months of reaching total depth.
• We also made a fourth deepwater discovery, the EW 954 A-8 well in December 2015, which was put on production in the first quarter of 2016