Current WTI Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

W&T Offshore to purchase Gulf of Mexico interests from ExxonMobil for $200 million
W&T Offshore, Inc. (stock ticker: WTI), a Houston-based independent E&P, has entered into a sales and purchase agreement with ExxonMobil to acquire the company’s interests located off the coast of Alabama in the Gulf of Mexico.

The transaction, which has a price tag of $200 million, includes working interests in nine offshore producing fields and an onshore treating facility, all of which are immediately adjacent to W&T’s existing assets. The acquisition will bolster the company’s net proved reserves by 74 million BOE, with 99% of those resources considered proved developed produci...

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