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News Breaks | | | | February 12, 2013 | | 12:14 EDT |  | WTI | W&T Offshore announces 2013 CapEx budget, production guidance
W&T Offshore announced that its Board of Directors has approved a 2013 capital budget of $450M. The company also announced production guidance for the first quarter of 2013 in a range of 4.3 MMBoe-4.8 MMBoe and for the full year of 2013 in a range of 17.0 MMBoe-18.7 MMBoe. In addition, the company provided details about its capital expenditure programs and an operational update, which includes positive results in both its horizontal drilling and 40-acre spacing pilot programs, adding value to its Yellow Rose project. Approximately 63% of the $450M capital budget for 2013 is identified as exploratory drilling to drive organic growth of both reserves and production, with the remaining 37% of the budget directed to oil-focused development activities. We anticipate allocating 63% of the 2013 budget to projects in the Gulf of Mexico, both on the shelf and in the deepwater, and 37% to projects onshore in Texas. | |
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| May 7, 2013 | | 17:35 EDT |  | WTI | W&T Offshore reports Q1 adj. EPS 35c, consensus 28c
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