Unaudited condensed consolidated statements of income

Exhibit 99.2

W&T Offshore, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(In thousands, except per share amounts)

(Unaudited)


	Three Months Ended												Year Ended December 31, 2003
	March 31, 2003			June 30, 2003			September 30, 2003			December 31, 2003			Year Ended December 31, 2003
Operating revenues:
Oil and gas revenues	$	116,904		$	103,371		$	101,951		$	99,209		$	421,435
Other		207			781			29			135			1,152

		117,111			104,152			101,980			99,344			422,587
Operating expenses:
Lease operating expenses		14,862			15,402			19,466			16,217			65,947
Production taxes		41			48			111			103			303
Gathering and transportation costs		1,876			2,562			2,971			2,501			9,910
Depreciation, depletion, and amortization		28,640			36,197			34,338			37,074			136,249
Asset retirement obligation accretion		1,834			1,833			1,834			1,942			7,443
General and administrative		3,323			12,758			3,402			3,429			22,912

		50,576			68,800			62,122			61,266			242,764

Income from operations		66,535			35,352			39,858			38,078			179,823
Other income (expense):
Interest and dividend income		106			78			50			45			279
Interest expense		(795	)		(511	)		(508	)		(694	)		(2,508	)

		(689	)		(433	)		(458	)		(649	)		(2,229	)

Income before income taxes		65,846			34,919			39,400			37,429			177,594
Income tax expense		23,046			12,222			13,790			12,098			61,156

Income before cumulative effect of a change in accounting principle		42,800			22,697			25,610			25,331			116,438
Cumulative effect of change in accounting principle (net of tax of $77)		144			—			—			—			144

Net income		42,944			22,697			25,610			25,331			116,582
Less: Preferred stock dividends		—			—			—			5,876			5,876

Net income applicable to common and common equivalent shares	$	42,944		$	22,697		$	25,610		$	19,455		$	110,706

Basic earnings per common share:⁽¹⁾
Income before cumulative effect of change in accounting principle	$	0.84		$	0.44		$	0.49		$	0.37		$	2.14
Cumulative effect of change in accounting principle		—			—			—			—			—

Net income	$	0.84		$	0.44		$	0.49		$	0.37		$	2.14

Diluted earnings per common share:⁽¹⁾
Income before cumulative effect of change in accounting principle	$	0.67		$	0.35		$	0.39		$	0.37		$	1.79
Cumulative effect of change in accounting principle		—			—			—			—			—

Net income	$	0.67		$	0.35		$	0.39		$	0.37		$	1.79

⁽¹⁾	The sum of the individual quarterly earnings per share does not agree with year-to-date earnings per share because each quarterly calculation is based on the income for that quarter and the weighted average number of shares outstanding during that quarter.

Exhibit 99.2

W&T Offshore, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(In thousands, except per share amounts)

(Unaudited)


	Three Months Ended									Nine Months Ended September 30, 2004
	March 31, 2004			June 30, 2004			September 30, 2004			Nine Months Ended September 30, 2004
Operating revenues:
Oil and gas revenues	$	123,118		$	125,409		$	120,381		$	368,908
Other		149			650			153			952

		123,267			126,059			120,534			369,860
Operating expenses:
Lease operating expenses		17,368			18,441			17,147			52,956
Production taxes		45			57			73			175
Gathering and transportation costs		2,809			3,647			3,834			10,290
Depreciation, depletion, and amortization		37,375			43,261			33,663			114,299
Asset retirement obligation accretion		2,228			2,257			2,345			6,830
General and administrative		4,318			4,446			4,552			13,316

		64,143			72,109			61,614			197,866

Income from operations		59,124			53,950			58,920			171,994
Other income (expense):
Interest and dividend income		64			60			77			201
Interest expense		(660	)		(610	)		(455	)		(1,725	)

		(596	)		(550	)		(378	)		(1,524	)

Income before income taxes		58,528			53,400			58,542			170,470
Income tax expense		20,485			18,690			20,489			59,664

Net income		38,043			34,710			38,053			110,806
Less: Preferred stock dividends		—			300			300			600

Net income applicable to common and common equivalent shares	$	38,043		$	34,410		$	37,753		$	110,206

Earnings per common share:⁽¹⁾
Basic	$	0.72		$	0.65		$	0.72		$	2.10

Diluted	$	0.58		$	0.53		$	0.58		$	1.68

⁽¹⁾	The sum of the individual quarterly earnings per share does not agree with year-to-date earnings per share because each quarterly calculation is based on the income for that quarter and the weighted average number of shares outstanding during that quarter.