W&T Offshore Inc., Company Intelligence Report


#186434

164pages

GlobalData

$ 1000

In Stock


W&T Offshore Inc (W&T) is an independent energy company actively involved in the acquisition, exploitation, and Exploration and Development (E&D) of crude oil and natural gas resources in the US. The companys Exploration and Production (E&P) activities are concentrated in both offshore and onshore areas of the US. Its offshore operations are primarily focused in the Gulf of Mexico (GoM) and its onshore operations are focused in the Permian basin of West Texas and East Texas. As of 2012, W&T possesses a total proved reserve base of 117.5 million barrels of oil equivalent (mmboe). Of this total, approximately 53% of the companys reserves are Proved, Developed and Producing (PDP) reserves, 21% are Proved, Developed, Nonproducing (PDNP) reserves, and 26% are Proved Undeveloped (PUD) reserves. As of 2012, based on the classification of companys total reserves by resources, approximately 47% of the total reserves are inclined towards oil resources, 13% are inclined towards Natural Gas Liquids (NGL), and 40% are inclined towards natural gas resources.

Scope

  • Key Highlights: This section provides detailed analysis on the companys overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, Capex funding, geographical results of oil and gas operations. 
  • Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals. 
  • SWOT: The reports SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market. 
  • Production and Development Overview: This section highlights the companys crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the companys producing and development assets. 
  • Exploration: This section includes detailed explanation and analysis on the companys exploration assets resulted due to new discoveries, new drilling and other activities. 
  • M&A trends: This section mainly provides information and analysis on the companys recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the companys status as a buyer or seller during the analyzed period. 
  • Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method. 
  • Peer Group Analysis: This section compares the companys performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters. 
  • Financial and Operational Metrics: This section covers the companys historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc

Reasons to buy

  • The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to 
  • Provide detailed analysis to those who are interested in knowing the companies existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates. 
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies. 
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table of Contents

1 Table of Contents
1 Table of Contents 7
1.1 List of Tables 11
1.2 List of Figures 13

2 W&T Offshore Inc., Company Overview 18

3 W&T Offshore Inc., Key Highlights 24
3.1 Onshore and Offshore Assets to Support Future Production Growth 24
3.1.1 W&Ts Offshore Assets to Support Production Growth in Future 24
3.1.2 W&Ts Onshore Asset to Support Production Growth in Future 26
3.1.3 Onshore and Offshore Fields of W&T Offshore Inc. Support Production 27
3.2 Increase Reserves Through Extensions, Discoveries and Acquisitions 28
3.3 Diversifying Operations into Other Regions 29

4 W&T Offshore Inc., SWOT Analysis 30
4.1 Strengths 30
4.1.1 Strong and Diversified Onshore and Offshore Exploration and Development Program to Positively Impact Proved Reserves Volume 30
4.1.2 Strong Technical Expertise in Executing Offshore Projects 32
4.2 Weaknesses 33
4.2.1 Relatively Low Reserve Life Index Compared with Peers 33
4.2.2 Relatively High Oil and Gas Finding and Development Cost and Reserve Replacement Cost Compared with Peers 34
4.3 Opportunities 37
4.3.1 Expansion of Operations into the Deep Waters of Mexico to Provide Opportunities for Growth 37
4.4 Threats 38
4.4.1 Risks Associated with Deepwater Drilling 38

5 W&T Offshore Inc., Goals and Strategies 39
5.1 Focus on Organic Growth with Emphasis on Oil in Total Production Mix 39
5.2 Focus on Inorganic Growth to Increase Reserve Base 40

6 W&T Offshore Inc., Production Overview 43
6.1 W&Ts Production Asset Portfolio 46
6.1.1 W&Ts Operations 46
6.1.2 W&Ts Onshore Field 46
6.1.3 Conventional Shelf of W&T in Gulf of Mexico 47
6.1.4 W&Ts Fields Located in Deepwater 47
6.1.5 W&Ts Fields Located on Shelf 48

7 W&T Offshore Inc., Exploration and Development Overview 49
7.1.1 W&Ts Onshore Field 51
7.1.2 Conventional Shelf of W&T Offshore Inc. in the Gulf of Mexico 53
7.1.3 W&Ts Deepwater Fields 54
7.1.4 W&Ts Fields Located on Shelf 55

8 Capital Expenditure 57
8.1 Costs Incurred 59

9 Acreage 61

10 W&T Offshore Inc., Forecast Production and Financial Statements 63
10.1 Income Statement (20102017) 64
10.2 Balance Sheet (20102017) 66
10.3 Cash Flow Statement (20102017) 67
10.4 W&T Offshore Inc., Valuation 68

11 W&T Offshore Inc., Peer Comparison 70
11.1 Share Price Performance 70
11.2 W&T Offshore Operational and Financial Performance 72
11.3 Key Financial and Operational Ratio 76

12 W&T Offshore, Inc., Production and Reserves Trends 79
12.1 Total Oil and Gas, Reserves and Production 79
12.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2008-2012 79
12.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2008-2012 81
12.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2008-2012 83
12.2 Crude Oil/Liquids Production and Reserve 85
12.2.1 Crude Oil/Liquids Production and Reserve Trend, 2008-2012 85
12.2.2 Crude Oil Production and Reserves By Country/Region, 2008-2012 86
12.2.3 Crude Oil/Liquids Reserve Changes, 2008-2012 88
12.3 Natural Gas Production and Reserve 89
12.3.1 Natural Gas Production and Reserve Trend, 2008-2012 89
12.3.2 Natural Gas Production and Reserves, By Country/Region, 2008-2012 91
12.3.3 Natural Gas Reserve Changes, 2008-2012 93
12.4 Total Crude Oil and Natural Gas Reserves Life Index 94
12.4.1 Total Crude Oil and Natural Gas Reserves Life Index, 2008-2012 94
12.4.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2008-2012 95

13 W&T Offshore, Inc., E&P Costs Trends 98
13.1 Allocation of the Upstream Capital Expenditure 98
13.1.1 Upstream Capital Expenditure, 2008-2012 98
13.1.2 Acquisition Costs By Country/Region, 2008-2012 100
13.1.3 Exploration and Development Costs, By Country/Region, 2008-2012 102
13.2 Oil and Gas Cost Per boe, $/boe 104
13.2.1 Oil and Gas Cost Per boe, $/boe, 2008-2012 104
13.2.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 2008-2012 106

14 W&T Offshore, Inc., Reserve Replacement Ratio 110
14.1 Oil and Gas Production Replacement Ratio 110
14.1.1 Oil and Gas Production Replacement Ratio, 2008-2012 110
14.1.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2008-2012 113

15 W&T Offshore, Inc., Results of Oil & Gas Operations Trend 120
15.1 Oil and Gas Revenue and Expenses 120
15.1.1 Oil and Gas Revenue and Expenses, 2008-2012 120
15.1.2 Oil and Gas Revenue and Expenses, By Country/Region, 2008-2012 122
15.2 Oil and Gas Revenue and Expenses, Per boe 130
15.2.1 Oil and Gas Revenue and Expenses, By boe, 2008-2012 130
15.2.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2008-2012 131
15.3 Oil and Gas Performance Metrics 138

16 W&T Offshore, Inc., Land Holdings and Well Data 139
16.1 Developed and Undeveloped Acreage 139
16.1.1 Gross and Net Developed and Undeveloped Acreage, 2008-2012 139
16.1.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2008-2012 141
16.2 Well Statistics 146
16.2.1 Producible Oil and Gas Well, 2008-2012 146
16.2.2 Producible Oil and Gas Well, By Country/Region, 2008-2012 147
16.2.3 Exploration and Development Wells Drilled, 2008-2012 155
16.2.4 Exploration and Development Wells Drilled, By Country/Region, 2008-2012 157

17 Appendix 158
17.1 Abbreviations 158
17.2 Sources 160
17.3 Methodology 161
17.3.1 Coverage 161
17.3.2 Secondary Research 162
17.3.3 Primary Research 162
17.4 Disclaimer 163

Table 1: W&T Offshore Inc., Total Oil & Natural Gas Production Forecast, 20102017 45
Table 2: W&T Offshore Inc., Exploration and Development Capital Expenditure (US$ mil), 20102012 58
Table 3: W&T Offshore Inc., Exploration, Development and Total Acquisition Costs (US$ mil), 20102012 60
Table 4: W&T Offshore Inc., Forecast Production, 20102017 63
Table 5: GlobalData, Price Forecasts, 20132017 63
Table 6: W&T Offshore Inc., Income Statement (US$ mil), 20102017 64
Table 7: W&T Offshore Inc., Balance Sheet (US$ mil), 20102017 66
Table 8: W&T Offshore Inc., Cash Flow Statement (US$ mil), 20102017 67
Table 9: W&T Offshore, Free Cash Flow Calculation (US$ mil), 20132017 68
Table 10: W&T Offshore Inc, DCF Calculation, 2012 69
Table 11: W&T Offshore Inc. and Peer Group, Operational and Financial Performance, 2012 72
Table 12:W&T Offshore Inc., Total Reserves and Production (mmboe), 2012 75
Table 13: W&T Offshore Inc and its Peers, Financial Ratios, 2012 77
Table 14: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2008-2012 80
Table 15: W&T Offshore, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2008-2012 82
Table 16: W&T Offshore, Inc., Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2008-2012 84
Table 17: W&T Offshore, Inc., Crude Oil Production and Reserves Metrics, MMbbl, 2008-2012 85
Table 18: W&T Offshore, Inc., Crude Oil Production and Reserves, By Country/Region, MMbbl, 2008-2012 87
Table 19: W&T Offshore, Inc., Crude Oil Reserve Changes, MMbbl, 2008-2012 88
Table 20: W&T Offshore, Inc., Natural Gas Production and Reserves Metrics, Bcf, 2008-2012 90
Table 21: W&T Offshore, Inc., Natural Gas Production and Reserves, By Country/Region, Bcf, 2008-2012 92
Table 22: W&T Offshore, Inc., Natural Gas Reserve Changes, Bcf, 2008-2012 93
Table 23: W&T Offshore, Inc., Oil and Gas Reserves Life Index, Years, 2008-2012 94
Table 24: W&T Offshore, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2008-2012 97
Table 25: W&T Offshore, Inc., Upstream Capital Expenditure, $m, 2008-2012 99
Table 26: W&T Offshore, Inc., Proved and Unproved Acquisition Costs, By Country/Region, $m, 2008-2012 101
Table 27: W&T Offshore, Inc., Exploration and Development Costs, By Country/Region, $m, 2008-2012 103
Table 28: W&T Offshore, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2008-2012 105
Table 29: W&T Offshore, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2008-2012 109
Table 30: W&T Offshore, Inc., Oil and Gas Production Replacement Ratio, %, 2008-2012 111
Table 31: W&T Offshore, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2008-2012 119
Table 32: W&T Offshore, Inc., Revenue and Expenses, $m, 2008-2012 121
Table 33: W&T Offshore, Inc., Revenue and Expenses, By Country/Region, $m, 2008-2012 129
Table 34: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, $/boe, 2008-2012 130
Table 35: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2008-2012 137
Table 36: W&T Offshore, Inc., Oil and Gas Performance Metrics, 2008-2012 138
Table 37: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2008-2012 140
Table 38: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2008-2012 145
Table 39: W&T Offshore, Inc., Producible Oil and Gas Wells, 2008-2012 146
Table 40: W&T Offshore, Inc., Producible Oil and Gas Wells, By Country/Region, 2008-2012 154
Table 41: W&T Offshore, Inc., Exploratory and Developed Wells, 2008-2012 156
Table 42: W&T Offshore, Inc., Exploratory and Developed Wells, By Country/Region, 2008-2012 157
Figure 1: W&T Offshore Inc., Operating Locations, 2013 20
Figure 2: W&T Offshore Inc., Financial and Operational Overview, 20092012 22
Figure 3: W&T Offshore Inc., Share Price Movement, September 2012August 2013 23
Figure 4: W&T Offshore, Exploration and Development Deepwater Gulf of Mexico 25
Figure 5: W&T Offshore Inc, Producing Properties, 2013 26
Figure 6: W&T Offshore Inc., Onshore and Offshore Properties, 2013 30
Figure 7: W&T Offshore Inc., Proved Crude Oil and Natural Gas Reserves, 20092012 31
Figure 8: W&T Offshore, Reserve Life Index (Years) in Comparison with Peer Group, 2012 33
Figure 9: W&T Offshore, Oil & Gas Finding and Development Cost per boe, Five-year Average (US$/boe) in Comparison with Peers, 20092012 35
Figure 10: W&T Offshore, Oil & Gas Reserve Replacement Cost per boe, Five-year Average, (US$/boe) in Comparison with Peers, 20092012 36
Figure 11: W&T Offshore, Legacy Properties and Leases in Gulf of Mexico 38
Figure 12: W&T Offshore Inc., Total Reserves Growth with Focus on Oil (mmboe), 20092012 42
Figure 13: W&T Offshore Inc., Total Oil and Natural Gas Production Mix (%), 20102017 44
Figure 14: W&T Offshore Inc., Total Oil and Natural Gas Production Forecast, 20102017 45
Figure 15: W&T Offshore Inc., Net Productive and Dry Exploratory and Developed Wells, 20092012 50
Figure 16: W&T Offshore Inc., Yellow Rose Properties 52
Figure 17: W&T Offshore Inc., Activity at SS349 (Mahogany Field), 2013 54
Figure 18: W&T Offshore Inc., Capital Expenditure Classification by Location (US$ mil), 20102012 58
Figure 19: W&T Offshore Inc., Costs Incurred, (US$ mil), 20102012 60
Figure 20: W&T Offshore Inc., Net Developed and Undeveloped Acreage (mil), 2012 62
Figure 21: W&T Offshore and Peers, Relative Share Price Performance Index (%), September 2012August 2013 71
Figure 22: W&T Offshore Inc., and Peer Group, Per boe Parameters, 2012 73
Figure 23: W&T Offshore Inc., and its Peers, Reserve Life Index, 2012 74
Figure 24: W&T Offshore Inc., Total Reserves and Production (mmboe), 2012 75
Figure 25: W&T Offshore Inc and its Peers, Valuation Ratios, 2012 78
Figure 26: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2008-2012 79
Figure 27: W&T Offshore, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, MMboe, 2008-2012 81
Figure 28: W&T Offshore, Inc., Total Oil & Gas Production, By Country/Region, MMboe, 2008-2012 82
Figure 29: W&T Offshore, Inc., Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2012 83
Figure 30: W&T Offshore, Inc., Crude Oil Production and Reserves Metrics, MMbbl, 2008-2012 85
Figure 31: W&T Offshore, Inc., Oil Reserves, End of Period, By Country/Region, MMbbl, 2008-2012 86
Figure 32: W&T Offshore, Inc., Oil Production, By Country/Region, MMbbl, 2008-2012 87
Figure 33: W&T Offshore, Inc., Crude Oil Reserve Changes, MMbbl, 2012 88
Figure 34: W&T Offshore, Inc., Natural Gas Production and Reserves Metrics, Bcf, 2008-2012 89
Figure 35: W&T Offshore, Inc., Gas Reserves, End of Period, By Country/Region, Bcf, 2008-2012 91
Figure 36: W&T Offshore, Inc., Gas Production, By Country/Region, Bcf, 2008-2012 92
Figure 37: W&T Offshore, Inc., Natural Gas Reserve Changes, Bcf, 2012 93
Figure 38: W&T Offshore, Inc., Oil and Gas Reserves Life Index, Years, 2008-2012 94
Figure 39: W&T Offshore, Inc., Gas Reserve Life Index, By Country/Region, Ratio, 2008-2012 95
Figure 40: W&T Offshore, Inc., Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2008-2012 96
Figure 41: W&T Offshore, Inc., Oil Reserve Life Index, By Country/Region, Ratio, 2008-2012 97
Figure 42: W&T Offshore, Inc., Upstream Capital Expenditure, $m, 2008-2012 98
Figure 43: W&T Offshore, Inc., Proved Acquisition Costs, By Country/Region, $m, 2008-2012 100
Figure 44: W&T Offshore, Inc., Unproved Acquisition Costs, By Country/Region, $m, 2008-2012 101
Figure 45: W&T Offshore, Inc., Development Costs, By Country/Region, $m, 2008-2012 102
Figure 46: W&T Offshore, Inc., Exploration Costs, By Country/Region, $m, 2008-2012 103
Figure 47: W&T Offshore, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2008-2012 104
Figure 48: W&T Offshore, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2008-2012 106
Figure 49: W&T Offshore, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/boe, 2008-2012 107
Figure 50: W&T Offshore, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2008-2012 108
Figure 51: W&T Offshore, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2008-2012 110
Figure 52: W&T Offshore, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2008-2012 113
Figure 53: W&T Offshore, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2008-2012 114
Figure 54: W&T Offshore, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2008-2012 115
Figure 55: W&T Offshore, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2008-2012 116
Figure 56: W&T Offshore, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2008-2012 117
Figure 57: W&T Offshore, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2008-2012 118
Figure 58: W&T Offshore, Inc., Revenue and Expenses, $m, 2008-2012 120
Figure 59: W&T Offshore, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, $m, 2008-2012 122
Figure 60: W&T Offshore, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, $m, 2008-2012 123
Figure 61: W&T Offshore, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, $m, 2008-2012 124
Figure 62: W&T Offshore, Inc., Oil & Gas Revenue, By Country/Region, $m, 2008-2012 125
Figure 63: W&T Offshore, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, $m, 2008-2012 126
Figure 64: W&T Offshore, Inc., Production Costs, By Country/Region, $m, 2008-2012 127
Figure 65: W&T Offshore, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, $m, 2008-2012 128
Figure 66: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, $/boe, 2008-2012 130
Figure 67: W&T Offshore, Inc., Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2008-2012 131
Figure 68: W&T Offshore, Inc., Lifting Cost per boe, By Country/Region, $/boe, 2008-2012 132
Figure 69: W&T Offshore, Inc., Annual Net Income per boe, By Country/Region, $/boe, 2008-2012 133
Figure 70: W&T Offshore, Inc., Oil & Gas Revenue per boe, By Country/Region, $/boe, 2008-2012 134
Figure 71: W&T Offshore, Inc., Total DD&A per boe, By Country/Region, $/boe, 2008-2012 135
Figure 72: W&T Offshore, Inc., Total Revenue per boe, By Country/Region, $/boe, 2008-2012 136
Figure 73: W&T Offshore, Inc., Oil and Gas Performance Metrics, 2008-2012 138
Figure 74: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2008-2012 139
Figure 75: W&T Offshore, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2008-2012 141
Figure 76: W&T Offshore, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2008-2012 142
Figure 77: W&T Offshore, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2008-2012 143
Figure 78: W&T Offshore, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2008-2012 144
Figure 79: W&T Offshore, Inc., Producible Oil and Gas Wells, 2008-2012 146
Figure 80: W&T Offshore, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2008-2012 147
Figure 81: W&T Offshore, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2008-2012 148
Figure 82: W&T Offshore, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2008-2012 149
Figure 83: W&T Offshore, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2008-2012 150
Figure 84: W&T Offshore, Inc., Net Productive Gas Wells, By Country/Region, Number, 2008-2012 151
Figure 85: W&T Offshore, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2008-2012 152
Figure 86: W&T Offshore, Inc., Net Productive Oil Wells, By Country/Region, Number, 2008-2012 153
Figure 87: W&T Offshore, Inc., Exploratory and Developed Wells, 2008-2012 155