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Stock impact report

W&T Offshore Announces First Quarter 2020 Results

W&T Offshore, Inc. (WTI) 
Last w&t offshore, inc. earnings: 3/4 04:45 pm Check Earnings Report
Company Research Source: GlobeNewswire
HOUSTON, June 22, 2020 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today reported operational and financial results for the first quarter 2020. Key highlights included: Produced 53,553 barrels of oil equivalent per day (“Boe/d”), or 4.9 million Boe (48% liquids), in the first quarter of 2020, near the high end of W&T’s guidance range, reflecting a 61% increase from the first quarter of 2019 and slightly higher than the fourth quarter of 2019;Reported net income of $66.0 million or $0.46 per share and Adjusted Net Income of $5.8 million or $0.04 per share in the first quarter of 2020;Generated significant Adjusted EBITDA of $62.1 million for the first quarter of 2020, despite a lower pricing environment;Recorded strong cash flow from operating activities of $84.3 million in the first quarter;Closed the acquisition of an additional 25% working interest in the deepwater Magnolia Field;Since December 31,2019, W&T has reduced its long-term debt assoc Show less Read more
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