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

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)
Notes Tables
Notes Details

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Open and Closed Contracts Which Had Not Yet Settled (Details)

v3.22.1

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Open and Closed Contracts Which Had Not Yet Settled (Details) - USD ($)
$ in Thousands

Mar. 31, 2022

Dec. 31, 2021

Derivative assets, current

^[1]

$ 77,658

$ 21,086

Derivative assets, non-current

^[2]

49,550

34,435

Derivative liabilities, current

^[1]

177,298

81,456

Derivative liabilities, non-current

63,318

37,989

Open Contracts and Closed Contracts Which Had Not Yet Been Settled [Member] | Prepaid Expenses and Other Current Assets [Member]

Derivative assets, current

77,658

21,086

Open Contracts and Closed Contracts Which Had Not Yet Been Settled [Member] | Other assets (long-term) [Member]

Derivative assets, non-current

49,550

34,435

Open Contracts and Closed Contracts Which Had Not Yet Been Settled [Member] | Accrued Liabilities

Derivative liabilities, current

177,298

81,456

Open Contracts and Closed Contracts Which Had Not Yet Been Settled [Member] | Other Liabilities (long-term)

Derivative liabilities, non-current

$ 63,318

$ 37,989

[1]	^{Includes closed contracts which have not yet settled.}
[2]	^{Includes open contracts and prepaid premiums paid for purchased put and call options.}

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312

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