W&T Offshore Prices $350 Million Senior Second Lien Notes in Private Offering

On January 14, 2025, W&T Offshore, Inc. (NYSE: WTI) announced the pricing of its $350 million aggregate principal amount of 10.750% senior second lien notes due 2029. This offering is part of a private offering that is exempt from registration under the Securities Act of 1933, as amended. The closing of the offering is expected to take place on January 28, 2025, subject to customary closing conditions.

The company intends to utilize the net proceeds from the offering, together with available cash, for various purposes. These include purchasing its outstanding 11.750% Senior Second Lien Notes due 2026 through a tender offer, redeeming any remaining 2026 Senior Second Lien Notes not tendered and accepted, repaying amounts under the MRE Term Loan, and covering expenses related to the offering of Notes and other related activities.

It’s important to note that the Notes and related guarantees being offered have not been registered under the Securities Act or any other securities laws. Hence, they may only be offered or sold in compliance with exemptions from registration requirements or in transactions not subject to such regulations. The offering is targeted at qualified institutional buyers in the United States under Rule 144A and non-U.S. investors outside the United States pursuant to Regulation S.

This announcement does not constitute an offer to purchase or a solicitation of an offer to sell the 2026 Senior Second Lien Notes, nor does it signify a notice of redemption of those notes. Investors are advised to closely consider the associated risks and factors outlined in W&T Offshore’s filings with the Securities and Exchange Commission.

W&T Offshore, Inc. is an independent oil and natural gas producer with operations in the Gulf of Mexico. The company’s growth has been fueled by acquisitions, exploration, and development activities. As of September 30, 2024, W&T Offshore held working interests in multiple fields across federal and state waters. The company’s production primarily stems from wells it operates.

Investors seeking more information can reach out to W&T Offshore through their Investor Relations Coordinator, Al Petrie, at [email protected] or by contacting Sameer Parasnis, the Executive Vice President and Chief Financial Officer, at [email protected].

This press release, issued in line with Rule 135c under the Securities Act, emphasizes that it does not constitute an offer to sell or buy the Notes, related guarantees, or any other securities, nor does it solicit such offers where prohibited by law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read W&T Offshore’s 8K filing here.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.