Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Subsequent Event

v3.19.2
Note 13 - Subsequent Event
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Subsequent Events [Text Block]
13.
Subsequent Event
 
On
July 16, 2019,
a panel of the United States Fifth Circuit Court of Appeals rendered its opinion in the lawsuit,
Apache Deepwater, L.L.C. vs. W&T Offshore, Inc
.  The opinion affirmed the trial court's judgment against the Company.  The Company intends to pursue vigorously all available legal recourse.  As noted above in Note
12,
in
2017
in connection with the appeal, the Company deposited
$49.5
million in the registry of the court and accrued such amount as a liability.  Accordingly, management of the Company does
not
believe that the appeal court's decision to affirm the trail court's judgment will materially impact our available liquidity, financial position or results of operations.
 
See Note
7,
Oil and Gas Property Acquisition,
for information regarding the Company’s recent agreement to purchase from ExxonMobil interests in and operatorship of certain oil and gas producing properties.