Quarterly report pursuant to Section 13 or 15(d)

Business Acquisition Pro Forma Information Incremental Item (Detail)

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Business Acquisition Pro Forma Information Incremental Item (Detail) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Business Acquisition [Line Items]        
Revenue $ 235,383 $ 215,513 $ 494,605 $ 451,399
Direct operating expense 68,248 60,276 127,590 116,938
DD&A 99,896 85,941 208,767 174,432
Interest expense 21,536 14,706 42,770 28,612
Capitalized interest 2,532 3,326 4,964 6,517
Income tax expense (benefit) 12,423 34,153 27,325 36,134
Newfield Properties Pre Acquisition | Pro Forma
        
Business Acquisition [Line Items]        
Revenue   29,474 [1]   72,695 [1]
Direct operating expense   12,771 [1]   24,063 [1]
Insurance costs   157 [2]   316 [2]
DD&A   16,429 [3]   36,877 [3]
Interest expense   3,960 [4]   7,921 [4]
Capitalized interest   241 [5]   485 [5]
Income tax expense (benefit)   $ (1,261) [6]   $ 1,401 [6]
[1] Revenues and direct operating expenses for the Newfield Properties were derived from the historical financial records of Newfield.
[2] Incremental costs for insurance were estimated using the incremental costs to add the Newfield Properties to W&T’s insurance programs. The direct operating expenses for the Newfield Properties described above excluded insurance costs
[3] DD&A was estimated using the full-cost method and determined as the incremental DD&A expense due to adding the Newfield Properties’ costs, reserves and production into our currently existing full cost pool in order to compute such amounts. The purchase price allocation included $13.1 million that was allocated to the pool of unevaluated properties for oil and natural gas interests. Accordingly, no DD&A expense was estimated for the unevaluated properties. ARO was estimated by W&T management
[4] The acquisition was assumed to be funded entirely with borrowed funds. Interest expense was computed using assumed borrowings of $205.7 million, which equates to the cash paid including purchase price adjustments and an interest rate of 7.7%, which equates to the effective yield on net proceeds for the additional senior notes issued shortly after the acquisition closed.
[5] Incremental capitalized interest was computed for the addition to the pool of unevaluated properties and the capitalization interest rate was adjusted for the assumed borrowings
[6] Income tax expense was computed using the 35% federal statutory rate