W&T Offshore Awarded “Best Exploration and Production Company in North America – 2019” by World Finance

HOUSTON, Jan. 27, 2020 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) announced today that it has been awarded the "Best Exploration and Production Company - North America - 2019" by World Finance Magazine. This prestigious award recognizes W&T’s accomplishments in the development of North American oil and natural gas resources.

Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are honored to receive this award which recognizes W&T’s ability to see opportunity where others see challenges, thereby demonstrating innovation and ambition even in difficult industry conditions.  This positive recognition for W&T is a testament to the hard work and commitment of all of our employees.  2019 was a year filled with many accomplishments including two accretive acquisitions that significantly increased production and total reserves.  We were also high bidder on a number of new leases in the Gulf of Mexico federal lease sales in 2019, adding acreage and potential drilling opportunities. Operationally, we drilled a range of development and exploration wells with a 100% success rate.  We plan to carry this positive momentum into 2020 and continue to accretively add value to W&T."

The complete list of the 2019 World Finance Oil and Gas Awards can be viewed at: www.worldfinance.com/awards/oil-gas-awards-2019.

About W&T Offshore

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development.  The Company currently has working interests in 54 producing fields in federal and state waters and has under lease approximately 837,500 gross acres, including approximately 605,000 gross acres on the Gulf of Mexico Shelf and approximately 232,500 gross acres in the deepwater.  A majority of the Company’s daily production is derived from wells it operates.  For more information on W&T, please visit the Company’s website at www.wtoffshore.com. 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect W&T’s current views with respect to future events, based on what it believes are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations, uncertainties and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and other public reports posted on www.sec.gov.

Released January 27, 2020