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Stock Market & Financial Investment News

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January 3, 2013
16:45 EDTWTIW&T Offshore agreement to resolve Clean Water Act investigation approved
W&T Offshore announced that the United States District Court for the Eastern District of Louisiana accepted the previously announced agreement between the United States Attorney's Office for the Eastern District of Louisiana and W&T Offshore, resolving environmental violations related to the company's Ewing Banks 910 oil and gas production platform in the Gulf of Mexico.
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September 1, 2015
09:25 EDTWTIOn The Fly: Pre-market Movers
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07:04 EDTWTIW&T Offshore to sell Yellow Rose field for $376M
W&T Offshore announced that it has entered into a definitive agreement with Ajax Resources, for the sale of all of its interest in its Yellow Rose field in the Permian Basin. Gross pre-tax proceeds from the transaction are expected to be approximately $376,100,000, subject to customary closing adjustments. W&T also reserved a 1%-4% sliding scale overriding royalty interest in the field. The transaction is expected to close during the Q3, with an effective date of January 1. W&T's interest in its Yellow Rose field includes approximately 25,800 net acres in Andrews, Martin, Gaines, and Dawson counties in West Texas. Proceeds from the transaction will be used to pay down the outstanding balance under our secured revolving credit facility and provide additional liquidity for future operations and acquisitions.

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