W&T Offshore has reported operational and financial results for the third quarter demonstrating increased production to 35.6 thousand barrels of oil equivalent per day (“MBoe/d”) (49% liquids), near the high end of guidance, and a reported net loss of $71.5 million.
Tracy W. Krohn, W&T’s Chairman of the Board and Chief Executive Officer, commented, “We remain committed to executing our strategic vision and are delivering strong results, including production growth of 6% and Adjusted EBITDA growth of 11% quarter-over-quarter.
“In addition, we continue to grow our cash position and reduce our Net Debt, which is down almost $60 million from year-end 2024. Operationally, we have seen strong production since bringing on the remaining two fields from the Cox acquisition, which has allowed us to increase production each quarter thus far in 2025.
“Acquisitions remain a key component of our success, and it is our ability to integrate and enhance the assets that we acquire that has allowed us to successfully operate for over 40 years. Our balance sheet has continued to strengthen in 2025 with the successful issuance of new 10.75% Notes, a new revolving credit facility and material cash additions through a non-core disposition and an insurance settlement. We have approximately $125 million in cash on our balance sheet and remain prepared to take advantage of potential acquisitions.”
During the third quarter of 2025, W&T performed five low cost, low risk workovers and three recompletions that exceeded expectations and positively impacted production and revenue for the quarter. W&T plans to continue performing these low cost and low risk short payout operations that impact both production and revenue.