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

Annual report pursuant to Section 13 and 15(d)

RESTRICTED DEPOSITS FOR ARO (Tables)

RESTRICTED DEPOSITS FOR ARO (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Restricted Deposits for Asset Retirement Obligations

Restricted deposits for ARO consist of funds escrowed for collateral related to the future plugging and abandonment obligations of certain oil and natural gas properties. These deposits relate to the following fields (in thousands):


	December 31,
	2023		2022
Main Pass 283/Viosca Knoll 734 ⁽¹⁾	$	13,887	$	13,684
South Marsh Island 73 ⁽²⁾		7,756		7,753
Other		629		46

(1)	In connection with the acquisition of these fields, the Company received funds from the previous operator to cover future asset retirement obligations for those fields. The Company is not obligated to contribute additional amounts to these escrowed accounts.

(2)	In connection with the acquisitions completed in 2022, the Company received funds from the previous owners to cover future asset retirement obligations. The Company is not obligated to contribute additional amounts to this escrowed account. See Note 7 - Acquisitions for additional information.