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MarketBeat
Tue, March 17, 2026 astatine 11:56 AM CDT 7 min read
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W&T grew accumulation done 2025 to 36,200 Boe/d successful Q4 and posted $130 million of adjusted EBITDA, mostly from workovers and recompletions alternatively than caller drilling.
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Liquidity and the equilibrium expanse improved: the institution ended 2025 with astir $141 million of currency and nett indebtedness down $74 million to $210 million aft a refinancing (new second‑lien notes), a caller $50M revolver, an plus merchantability and an security recovery.
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For 2026 W&T plans to clasp accumulation astir a 35,000 Boe/d midpoint portion cutting superior spending materially to astir $22 million (midpoint), emphasizing workovers/recompletions, little LOE and continued P&A activity.
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W&T Offshore (NYSE:WTI) absorption highlighted higher production, improved liquidity, and little nett indebtedness during the company’s fourth-quarter and full-year 2025 net call, portion outlining plans to clasp accumulation astir level successful 2026 with a materially little superior fund and continued absorption connected workovers, recompletions, and operating efficiencies.
Chairman and CEO Tracy Krohn said the institution delivered “solid operational and fiscal results” successful 2025 by focusing connected currency travel generation, optimizing accepted Gulf of Mexico assets, and pursuing accretive opportunities. Krohn said accumulation accrued each 4th of 2025, rising from 30,500 barrels of lipid equivalent per time (Boe/d) successful the archetypal 4th to 36,200 Boe/d successful the 4th quarter, driven by accumulation enhancement projects alternatively than caller drilling.
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For the year, Krohn said W&T generated adjusted EBITDA of $130 cardinal and invested $55 cardinal successful superior expenditures, portion performing 34 workovers and 4 recompletions. The institution did not drill immoderate caller wells successful 2025.
In the 4th quarter, Krohn said accumulation accrued 2% sequentially from the 3rd 4th and was up 13% from the aforesaid play successful 2024. He attributed the show to accumulation uplift projects and ramp-up enactment connected fields acquired successful 2024, noting that by the 4th fourth of 2025 the institution had completed “all the large projects connected the acquired assets,” bringing those properties up to W&T’s operating standards.
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W&T emphasized outgo power and synergy capture, including little lease operating disbursal (LOE) successful the 4th quarter. Krohn said fourth-quarter LOE was $22.40 per Boe, down 4% from the 3rd quarter, and that implicit costs came successful beneath the midpoint of guidance.
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