$WTI
W&T OFFSHORE INC

2020 Q3 Form 10-Q Financial Statement

#000143774920016874 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $72.52M $55.24M $134.7M
YoY Change -45.15% -58.99% -9.97%
Cost Of Revenue $36.40M $28.30M $40.30M
YoY Change -22.88% -29.78% 13.2%
Gross Profit $36.10M $26.90M $94.40M
YoY Change -57.53% -71.5% -17.19%
Gross Profit Margin 49.78% 48.7% 70.08%
Selling, General & Admin $19.30M $10.10M $20.70M
YoY Change 16.27% -51.21% 5.61%
% of Gross Profit 53.46% 37.55% 21.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.13M $29.48M $38.07M
YoY Change -35.31% -22.56% -4.1%
% of Gross Profit 69.6% 109.6% 40.33%
Operating Expenses $44.40M $39.60M $58.80M
YoY Change -20.0% -32.65% -0.84%
Operating Profit -$19.51M -$28.04M $37.38M
YoY Change -155.11% -175.02% -22.88%
Interest Expense $14.14M $14.82M $12.21M
YoY Change -2.15% 21.37% 3.57%
% of Operating Profit 32.66%
Other Income/Expense, Net -$751.0K -$751.0K -$478.0K
YoY Change 35.32% 57.11% -1.65%
Pretax Income -$34.40M -$14.64M $24.69M
YoY Change -268.62% -159.29% -31.78%
Income Tax -$21.10M -$8.700M -$11.70M
% Of Pretax Income -47.38%
Net Earnings -$13.34M -$5.904M $36.39M
YoY Change -117.57% -116.22% 0.85%
Net Earnings / Revenue -18.39% -10.69% 27.01%
Basic Earnings Per Share
Diluted Earnings Per Share -$93.93K -$41.20K $256.2K
COMMON SHARES
Basic Shares Outstanding 141.7M 141.8M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.50M $36.50M $65.70M
YoY Change 35.49% -44.44% -49.23%
Cash & Equivalents $56.53M $36.51M $65.71M
Short-Term Investments
Other Short-Term Assets $494.0K $76.00K $5.080M
YoY Change -82.23% -98.5% 223.98%
Inventory
Prepaid Expenses
Receivables $21.41M $22.38M $41.81M
Other Receivables $0.00 $0.00 $54.10M
Total Short-Term Assets $111.9M $106.1M $253.5M
YoY Change -44.32% -58.14% -11.55%
LONG-TERM ASSETS
Property, Plant & Equipment $694.3M $713.1M $524.5M
YoY Change -3.7% 35.95% -8.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.200M $3.100M
YoY Change 10.34%
Other Assets $25.64M $27.54M $73.58M
YoY Change -21.99% -62.58% 5.99%
Total Long-Term Assets $837.6M $836.6M $614.3M
YoY Change 1.39% 36.19% -8.53%
TOTAL ASSETS
Total Short-Term Assets $111.9M $106.1M $253.5M
Total Long-Term Assets $837.6M $836.6M $614.3M
Total Assets $949.5M $942.7M $867.8M
YoY Change -7.55% 8.64% -9.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.79M $52.37M $97.89M
YoY Change -65.27% -46.5% 110.69%
Accrued Expenses $44.46M $22.67M $19.49M
YoY Change 19.34% 16.28% -4.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $128.7M $114.4M $210.0M
YoY Change -43.61% -45.5% -38.65%
LONG-TERM LIABILITIES
Long-Term Debt $624.7M $624.2M $634.4M
YoY Change -13.1% -1.61% -16.63%
Other Long-Term Liabilities $33.26M $29.00M $61.39M
YoY Change 104.48% -52.76% -15.92%
Total Long-Term Liabilities $658.0M $653.2M $695.8M
YoY Change -10.5% -6.12% -16.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $128.7M $114.4M $210.0M
Total Long-Term Liabilities $658.0M $653.2M $695.8M
Total Liabilities $786.8M $767.7M $905.8M
YoY Change -18.35% -15.25% -22.99%
SHAREHOLDERS EQUITY
Retained Earnings -$725.5M -$712.2M -$857.7M
YoY Change -7.2% -16.97% -16.84%
Common Stock $550.2M $549.1M $546.9M
YoY Change 0.38% 0.41% -0.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.17M $24.17M $24.17M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares $2.869M $2.869M $2.869M
Shareholders Equity -$199.5M -$187.2M -$335.0M
YoY Change
Total Liabilities & Shareholders Equity $949.5M $942.7M $867.8M
YoY Change -7.55% 8.64% -9.43%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$13.34M -$5.904M $36.39M
YoY Change -117.57% -116.22% 0.85%
Depreciation, Depletion And Amortization $25.13M $29.48M $38.07M
YoY Change -35.31% -22.56% -4.1%
Cash From Operating Activities $21.20M $9.200M $21.50M
YoY Change -73.6% -57.21% -46.52%
INVESTING ACTIVITIES
Capital Expenditures -$1.200M -$4.900M -$41.50M
YoY Change -99.36% -88.19% 5.06%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.200M -$4.900M -$41.50M
YoY Change -99.36% -88.19% 13.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -15.40M -400.0K
YoY Change -100.0% 3750.0% -92.0%
NET CHANGE
Cash From Operating Activities 21.20M 9.200M 21.50M
Cash From Investing Activities -1.200M -4.900M -41.50M
Cash From Financing Activities 0.000 -15.40M -400.0K
Net Change In Cash 20.00M -11.10M -20.40M
YoY Change -183.68% -45.59% 1469.23%
FREE CASH FLOW
Cash From Operating Activities $21.20M $9.200M $21.50M
Capital Expenditures -$1.200M -$4.900M -$41.50M
Free Cash Flow $22.40M $14.10M $63.00M
YoY Change -91.65% -77.62% -20.95%

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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-11523000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-34984000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5992000 USD
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
-4743000 USD
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
24162000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3505000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
8134000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
2008000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
0 USD
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
2164000 USD
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
2641000 USD
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
5850000 USD
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
18527000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-31274000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4251000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
93478000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
106316000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
39949000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
63149000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
456000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
10000000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
70000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
-0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40475000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-73149000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
25000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
50000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
-0 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
23930000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
-0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
-0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
751000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-48930000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-751000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4073000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
32416000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32433000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33293000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
36506000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
65709000 USD
CY2020Q2 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
6269000 USD
CY2019Q4 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
4357000 USD
CY2020Q2 us-gaap Prepaid Royalties
PrepaidRoyalties
6813000 USD
CY2019Q4 us-gaap Prepaid Royalties
PrepaidRoyalties
7980000 USD
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 36pt;"><b><i>Use of Estimates.</i></b>  The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 36pt;"> </p>
CY2020Q2 us-gaap Supplies
Supplies
1638000 USD
CY2019Q4 us-gaap Supplies
Supplies
10202000 USD
CY2020Q2 wti Proceeds From Paycheck Protection Program Under Cares Act
ProceedsFromPaycheckProtectionProgramUnderCaresAct
8400000 USD
CY2020Q2 wti Increase Decrease Operating Lease Expense
IncreaseDecreaseOperatingLeaseExpense
-2300000 USD
CY2020Q2 wti Increase Decrease General And Administrative Expense
IncreaseDecreaseGeneralAndAdministrativeExpense
-5000000.0 USD
CY2020Q2 wti Increase Decrease Interest Expense Net
IncreaseDecreaseInterestExpenseNet
-1100000 USD
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
76000 USD
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
886000 USD
CY2019Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
7266000 USD
us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 36pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><i><b>Credit Risk and Allowance for Credit Losses.</b> </i> Our revenue has been concentrated in certain major oil and gas companies.  For the year ended <em style="font: inherit;"> December 31, 2019 </em>and for the <em style="font: inherit;">six</em> months ended <em style="font: inherit;"> June 30, 2020, </em>approximately 63% and 54%, respectively, of our revenue was from <span style="-sec-ix-hidden:c63698479"><span style="-sec-ix-hidden:c63698490">three</span></span> major oil and gas companies and a substantial majority of our receivables were from sales with major oil and gas companies.  We also have receivables related to joint interest arrangements primarily with mid-size oil and gas companies with a substantial majority of the net receivable balance concentrated in less than <em style="font: inherit;">ten</em> companies.  A loss  methodology is used to develop the allowance for credit losses on material receivables to estimate the net amount to be collected.  The loss methodology uses historical data, current market conditions and forecasts of future economic conditions.  Our maximum exposure at any time would be the receivable balance.  The receivables, <i>Joint interest and other, net</i>, reported on the Condensed Consolidated Balance Sheets are reduced for the allowance for credit losses.  The roll forward of the allowance for credit losses is as follows: </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 36pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 81%;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Allowance for credit losses, December 31, 2019</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td><td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">9,898</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Additional provisions</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td><td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">598</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Uncollectible accounts written off</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">—</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr> <tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Allowance for credit losses, June 30, 2020</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">10,496</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td></tr> </tbody></table> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 36pt;"> </p>
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9898000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
598000 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10496000 USD
CY2020Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
17770000 USD
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
32566000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
30691000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
3798000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7936000 USD
CY2020Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2678000 USD
CY2020Q2 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8553306000 USD
CY2019Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8532196000 USD
CY2020Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
20387000 USD
CY2019Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
20317000 USD
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8573693000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8552513000 USD
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7860630000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7803715000 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
713063000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
748798000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12546000 USD
CY2020Q2 us-gaap Other Long Term Investments
OtherLongTermInvestments
3118000 USD
CY2019Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
2590000 USD
CY2020Q2 wti Unamortized Brokerage Fee
UnamortizedBrokerageFee
2130000 USD
CY2019Q4 wti Unamortized Brokerage Fee
UnamortizedBrokerageFee
3423000 USD
CY2020Q2 wti Appeal Bond Deposit Assets Noncurrent
AppealBondDepositAssetsNoncurrent
0 USD
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
33447000 USD
CY2019Q4 wti Appeal Bond Deposit Assets Noncurrent
AppealBondDepositAssetsNoncurrent
6925000 USD
CY2020Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1024000 USD
CY2019Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
2653000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
814000 USD
CY2020Q2 wti Proportional Consolidation Adjustment In Other Asset
ProportionalConsolidationAdjustmentInOtherAsset
2553000 USD
CY2020Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
27535000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
632000 USD
CY2020Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
28998000 USD
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9988000 USD
CY2020Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1779000 USD
CY2019Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1785000 USD
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22668000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30896000 USD
CY2020Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
12090000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
624222000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
719533000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
46498000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-47081000 USD
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
355594000 USD
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
2164000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
11684000 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
2814000 USD
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
6879000 USD
CY2020Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
374807000 USD
CY2020Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
12506000 USD
CY2020Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
362301000 USD
CY2020Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-15414000 USD
CY2019Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1805000 USD
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
37566000 USD
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
12792000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
11964000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7135000 USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
10874043
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1019000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1259000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2067000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1181000 USD
CY2020Q2 wti Incentive Compensation Total
IncentiveCompensationTotal
1178000 USD
CY2019Q2 wti Incentive Compensation Total
IncentiveCompensationTotal
2904000 USD
wti Incentive Compensation Total
IncentiveCompensationTotal
6706000 USD
wti Incentive Compensation Total
IncentiveCompensationTotal
4798000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-8700000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2200000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-11700000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-11500000 USD
CY2020Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
45900000 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
54400000 USD
CY2019Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
1900000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-5904000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
36389000 USD
us-gaap Net Income Loss
NetIncomeLoss
60076000 USD
us-gaap Net Income Loss
NetIncomeLoss
-11372000 USD
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2019Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
666000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
707000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5904000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35723000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59369000 USD
CY2010Q4 wti Additional Royalty Due To Disallowed Deductions
AdditionalRoyaltyDueToDisallowedDeductions
4700000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11372000 USD
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
141597000
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
140567000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1665000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
141571000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
140507000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2978000
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.25
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.42
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2017Q1 wti Additional Royalty Due To Disallowed Deductions
AdditionalRoyaltyDueToDisallowedDeductions
4700000 USD
CY2017Q3 wti Bonds Posted To Appeal Ibla Decision
BondsPostedToAppealIBLADecision
7200000 USD
CY2017Q3 wti Collateral For Bonds Posted Related To Appeal With Ibla
CollateralForBondsPostedRelatedToAppealWithIBLA
6900000 USD

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