W&T Offshore, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of Fair Value of Derivatives Financial Instruments and Long-Term Debt

The following table presents the fair value of our open derivatives and long-term debt, as reported in the Condensed Consolidated Balance Sheets (in thousands):

		March 31, 2016				December 31, 2015
	Hierarchy	Assets		Liabilities		Assets		Liabilities

Derivatives	Level 2	$	6,060	$	—	$	7,672	$	—
8.50% Senior Notes ⁽¹⁾	Level 2		—		108,000		—		324,000
9.00% Term Loan ⁽¹⁾	Level 2		—		144,000		—		217,500
Revolving bank credit facility ⁽¹⁾	Level 2		—		288,000		—		—

(1)

The long-term debt items are reported on the Condensed Consolidated Balance Sheets at their carrying value as described in Note 5.