W&T Offshore, Inc. Provides Production Guidance for the First Quarter and Production and Capital Expenditure Guidance for the Full Year of 2017
January 24, 2017 at 06:30 am EST
Share
W&T Offshore, Inc. provided production guidance for the first quarter and production and capital expenditure guidance for the full year of 2017. The company expected Oil and NGLs production in the range of 2.0 MMBbls to 2.3 MMBbls. Natural gas production is expected in the range of 10.2 Bcf to 11.3 Bcf.
The company announced that its Board of Directors has approved a 2017 capital expenditure budget of $125 million, excluding potential acquisitions. The company has also provided production and expense guidance for 2017 and expects total production in 2017 to be approximately 4% higher than the mid-point of the company's expected production in 2016. The company expected Oil and NGLs production in the range of 8.3 MMBbls to 9.2 MMBbls. Natural gas production is expected in the range of 41.4 Bcf to 45.7 Bcf.
W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. It has a working interest in over 53 offshore producing fields in federal and state waters (which include 44 fields in federal waters and nine in state waters). The Company has under lease approximately 597,100 gross acres (440,000 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 435,600 gross acres on the conventional shelf, approximately 153,500 gross acres in the deepwater and 8,000 gross acres in Alabama onshore. The Company's wholly owned subsidiaries consists of Aquasition Energy, LLC, Aquasition, LLC, Aquasition II, LLC, Aquasition III, LLC, Aquasition IV, LLC, Aquasition V, LLC, Green Hell, LLC, Seaquester, LLC, Seaquestration, LLC, and W & T Energy VI, LLC.
W&T OFFSHORE, INC. 
