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W&T Offshore Reports Second Quarter 2025 Results

Strategic Insights

— 2 min read

W&T Offshore, Inc., a publicly traded energy company, has released its operational and financial results for the second quarter of 2025. The company marked its 20th anniversary as a public company on the New York Stock Exchange (NYSE) by ringing the closing bell. Key highlights of the second quarter include a 10% increase in production to 33.5 thousand barrels of oil equivalent per day, performed workovers that exceeded expectations, and reduced lease operating expenses while improving net loss and Adjusted Net Loss.

Key Takeaways:

  • W&T Offshore increased production by 10% in the second quarter of 2025 to 33.5 thousand barrels of oil equivalent per day, meeting guidance.
  • Despite lower prices, the company's revenue from oil, natural gas liquids, and natural gas sales was offset by a $8.1 million reduction in quarter-over-quarter revenues.
  • Nine low-cost, low-risk workovers were performed, exceeding expectations and positively impacting production and revenue for the quarter.
  • Five workovers were performed in Mobile Bay, W&T's largest natural gas field, increasing production without drilling additional wells.
  • The company incurred lease operating expenses of $76.9 million, meeting guidance, and reported a net loss of $20.9 million, an improvement from the first quarter of 2025.
  • Adjusted Net Loss totaled $11.8 million, a $7.3 million improvement from the first quarter of 2025.
  • W&T Offshore grew Adjusted EBITDA by 9% to $35.2 million and generated net cash flow from operating activities of $28.0 million.
  • The company added a costless collar oil hedge for 2,000 barrels per day in July to December 2025, with a floor price of $63.00 per barrel and a ceiling price of $77.25 per barrel.
  • W&T Offshore reported mid-year SEC proved reserves of 123.0 million barrels of oil equivalent, with a present value of those SEC proved reserves discounted at 10% (PV-10) of $1.2 billion.
  • The company announced two positive surety outcomes: a settlement agreement with two surety providers and a federal court recommended denial of a preliminary injunction against W&T by two other surety companies.

Statistics:

  • Second quarter 2025 production: 33.5 thousand barrels of oil equivalent per day (MBoe/d), 49% liquids.
  • Lease operating expenses: $76.9 million.
  • Net loss: $20.9 million.
  • Adjusted Net Loss: $11.8 million.
  • Adjusted EBITDA: $35.2 million, a 9% increase from the first quarter of 2025.
  • Net cash flow from operating activities: $28.0 million.
  • Free Cash Flow: $3.6 million.
  • Unrestricted cash and cash equivalents: $120.7 million.
  • Total debt: $350.1 million.
  • Net Debt: $229.4 million at June 30, 2025.

Sources:

  • W&T Offshore, Inc. News Release: W&T Offshore, Inc. Reports Second Quarter 2025 Results, (Source not provided)
  • Netherland, Sewell and Associates, Inc. (Source not provided)
  • NSAI, a reserve report prepared by Netherland, Sewell and Associates, Inc. (Source not provided)
  • W&T Offshore, Inc. News Release, celebration of 20 years as a public company (Source not provided)

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