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WTI

W&T Offshore, Inc.

WTI

W&T Offshore, Inc. • NYSE
$1.77 ▲ 1.43% (+0.03)
Market Cap $264.02 M
52w High $2.59
52w Low $1.09
Dividend Yield 0.04%
P/E -1.79
Volume 913.29K
Outstanding Shares 148.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $127.515M ▲ $21.51M ▲ $-71.474M ▼ -56.051% ▼ $-0.48 ▼ $22.095M ▲
Q2-2025 $122.367M ▼ $17.67M ▼ $-20.884M ▲ -17.067% ▲ $-0.14 ▲ $12.185M ▼
Q1-2025 $129.867M ▲ $99.561M ▲ $-30.577M ▼ -23.545% ▼ $-0.21 ▼ $15.583M ▼
Q4-2024 $120.345M ▼ $93.215M ▼ $-23.362M ▲ -19.413% ▲ $-0.16 ▲ $31.38M ▲
Q3-2024 $121.372M $99.983M $-36.921M -30.42% $-0.25 $2.732M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $124.795M ▲ $960.626M ▼ $1.133B ▲ $-172.487M ▼
Q2-2025 $120.723M ▲ $1.024B ▼ $1.127B ▲ $-102.721M ▼
Q1-2025 $105.933M ▼ $1.025B ▼ $1.108B ▼ $-82.796M ▼
Q4-2024 $109.003M ▼ $1.099B ▼ $1.152B ▼ $-52.577M ▼
Q3-2024 $126.544M $1.127B $1.159B $-31.51M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-71.474M ▼ $26.537M ▼ $-20.874M ▼ $-1.591M ▲ $4.072M ▼ $4.736M ▼
Q2-2025 $-20.884M ▲ $27.962M ▲ $-10.763M ▼ $-2.409M ▲ $14.79M ▲ $35.13M ▲
Q1-2025 $-30.577M ▼ $-3.196M ▲ $63.267M ▲ $-63.141M ▼ $-3.07M ▲ $-10.364M ▲
Q4-2024 $-23.362M ▲ $-4.317M ▼ $-14.143M ▼ $-1.946M ▲ $-20.406M ▼ $-18.46M ▼
Q3-2024 $-36.921M $14.768M $-9.646M $-1.953M $3.169M $5.122M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Natural Gas Production
Natural Gas Production
 $50.00M ▲$40.00M ▼$30.00M ▼$40.00M ▲
Oil and Condensate
Oil and Condensate
 $200.00M ▲$90.00M ▼$80.00M ▼$80.00M ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Natural Gas Liquids
Natural Gas Liquids
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has come down from the 2022 peak and has been flat the last two years, which suggests the company is no longer enjoying the same pricing and volume tailwinds it saw earlier in the cycle. Profitability has weakened: operating profit has flipped from a modest gain to a small loss, and net income is now negative again after only a brief return to profitability. This pattern highlights how sensitive the business is to commodity prices and operating costs. Earnings per share have swung from strong profits to losses within just a couple of years, signaling significant volatility in the underlying business rather than a smooth growth story.

Balance Sheet

Balance Sheet The balance sheet looks stretched. Total assets have drifted down from earlier highs, cash has been drawn down from its strongest year, and debt remains meaningful. Reported equity has hovered around zero or even negative, which indicates a thin capital cushion and a highly leveraged structure. This does not automatically mean near‑term distress, but it does suggest less room for error if operating conditions worsen or if oil and gas prices stay weak for an extended period.

Cash Flow

Cash Flow Cash flow from operations has fallen sharply from its best year and now sits at a more modest level, consistent with the weaker earnings picture. After funding capital spending, free cash flow recently slipped slightly negative, reversing the positive trend seen in prior years. Capital spending itself is not excessive but has been rising, which can pressure cash flow when profits are under strain. Overall, the company is generating cash, but not at the same strength as in its peak year, leaving less internal funding available for debt reduction or new investments.

Competitive Edge

Competitive Edge W&T Offshore is a focused Gulf of Mexico player, which gives it deep regional expertise rather than a broad global footprint. Its edge comes from knowing this basin extremely well, running acquired fields efficiently, and squeezing more value from mature assets that larger companies no longer prioritize. The company tends to buy assets others are shedding and work them harder through cost control and technical know‑how. This niche strategy can create value, but it also concentrates risk in one geographic area and keeps the company heavily exposed to swings in oil and gas prices, regulatory changes, and weather‑related disruptions in the Gulf.

Innovation and R&D

Innovation and R&D The business is not a technology creator in the classical sense, but it aims to be a smart user of available tools. It relies on advanced seismic interpretation and geoscience to lower drilling risk, and it is beginning to explore artificial intelligence to spot patterns in seismic data that humans might miss. Operationally, standardized maintenance and asset‑management systems help keep offshore platforms running efficiently. Much of its “innovation” is about doing more with existing wells through recompletions and workovers, and structuring joint ventures to share risk. The company is also making measured steps on environmental reporting and emissions reduction, which may matter more over time as regulation and investor expectations evolve.

Summary

WTI shows the classic profile of a small, specialized oil and gas producer: operationally savvy in its chosen basin, but financially and earnings‑wise highly cyclical. The recent move from strong profits back to losses, along with softer cash generation, underscores its dependence on favorable commodity prices and stable operations. The balance sheet is leveraged with a very thin equity base, which magnifies both upside and downside in more volatile periods. On the positive side, the company’s deep Gulf of Mexico expertise, contrarian acquisition strategy, and efficient use of technology give it tools to create value from assets others may overlook. Future outcomes will hinge on its ability to stabilize profitability, manage debt, execute on acquisitions, and translate its operational strengths and emerging AI and ESG efforts into more consistent cash flow over time.

NEWS

November 5, 2025 · 4:45 PM UTC

W&T Offshore Announces Third Quarter 2025 Results and Declares Dividend for Fourth Quarter of 2025

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October 23, 2025 · 6:45 AM UTC

W&T Offshore Announces Timing of Third Quarter 2025 Earnings Release and Conference Call

Read more