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W&T Offshore ( (WTI) ) has provided an update.
On January 28, 2025, W&T Offshore closed a $350 million offering of 10.750% senior second lien notes due 2029, enhancing its financial position. The company also entered a new credit agreement for a $50 million revolving credit facility and received $58.2 million from an insurance settlement, further strengthening its balance sheet. These actions, alongside the tender offer for outstanding 2026 notes and a new credit facility, position W&T for robust future operations.
More about W&T Offshore
W&T Offshore, Inc. is an independent oil and natural gas producer operating in the Gulf of Mexico. The company has expanded through acquisitions, exploration, and development, holding interests in 53 fields across federal and state waters off the coasts of Louisiana, Texas, Mississippi, and Alabama.
YTD Price Performance: -8.43%
Average Trading Volume: 2,139,026
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $240.2M
See more insights into WTI stock on TipRanks’ Stock Analysis page.
