$WTI
W&T OFFSHORE INC

2020 Q4 Form 10-Q Financial Statement

#000143774920022751 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $94.75M $72.52M $132.2M
YoY Change -37.62% -45.15% -13.84%
Cost Of Revenue $43.30M $36.40M $47.20M
YoY Change -18.76% -22.88% 26.2%
Gross Profit $51.40M $36.10M $85.00M
YoY Change -47.87% -57.53% -26.72%
Gross Profit Margin 54.25% 49.78% 64.29%
Selling, General & Admin $13.00M $19.30M $16.60M
YoY Change -48.62% 16.27% -25.23%
% of Gross Profit 25.29% 53.46% 19.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.60M $25.13M $38.84M
YoY Change -29.63% -35.31% 4.98%
% of Gross Profit 51.75% 69.6% 45.7%
Operating Expenses $39.60M $44.40M $55.50M
YoY Change -37.14% -20.0% -6.25%
Operating Profit $349.0K -$19.51M $35.40M
YoY Change -97.93% -155.11% -38.06%
Interest Expense -$26.90M $14.14M $14.45M
YoY Change -23.8% -2.15% 34.66%
% of Operating Profit -7707.74% 40.81%
Other Income/Expense, Net -$800.0K -$751.0K -$555.0K
YoY Change -166.67% 35.32% 2983.33%
Pretax Income -$15.80M -$34.40M $20.40M
YoY Change -1228.57% -268.62% -56.04%
Income Tax -$6.900M -$21.10M -$55.50M
% Of Pretax Income -272.07%
Net Earnings -$8.947M -$13.34M $75.90M
YoY Change -193.6% -117.57% 64.07%
Net Earnings / Revenue -9.44% -18.39% 57.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$62.81K -$93.93K $539.8K
COMMON SHARES
Basic Shares Outstanding 141.8M 141.7M 140.7M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.70M $56.50M $41.70M
YoY Change 34.88% 35.49% -87.7%
Cash & Equivalents $43.73M $56.53M $41.74M
Short-Term Investments
Other Short-Term Assets $59.00K $494.0K $2.780M
YoY Change -93.34% -82.23% 115.67%
Inventory
Prepaid Expenses
Receivables $38.83M $21.41M $51.63M
Other Receivables $0.00 $0.00 $36.90M
Total Short-Term Assets $107.2M $111.9M $201.0M
YoY Change -24.36% -44.32% -58.98%
LONG-TERM ASSETS
Property, Plant & Equipment $686.9M $694.3M $721.0M
YoY Change -8.27% -3.7% 37.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.700M $3.200M $2.900M
YoY Change 3.85% 10.34%
Other Assets $22.47M $25.64M $32.86M
YoY Change -32.82% -21.99% -52.38%
Total Long-Term Assets $833.4M $837.6M $826.1M
YoY Change -3.32% 1.39% 34.9%
TOTAL ASSETS
Total Short-Term Assets $107.2M $111.9M $201.0M
Total Long-Term Assets $833.4M $837.6M $826.1M
Total Assets $940.6M $949.5M $1.027B
YoY Change -6.29% -7.55% -6.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.30M $36.79M $105.9M
YoY Change -59.64% -65.27% 10.91%
Accrued Expenses $29.88M $44.46M $37.25M
YoY Change -3.29% 19.34% 53.94%
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 $115.0M $128.7M $228.3M
YoY Change -39.46% -43.61% -48.9%
LONG-TERM LIABILITIES
Long-Term Debt $625.3M $624.7M $718.9M
YoY Change -13.1% -13.1% -5.29%
Other Long-Term Liabilities $32.94M $33.26M $16.27M
YoY Change 229.78% 104.48% -95.43%
Total Long-Term Liabilities $658.2M $658.0M $735.2M
YoY Change -9.77% -10.5% -34.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $115.0M $128.7M $228.3M
Total Long-Term Liabilities $658.2M $658.0M $735.2M
Total Liabilities $773.2M $786.8M $963.5M
YoY Change -15.91% -18.35% -38.32%
SHAREHOLDERS EQUITY
Retained Earnings -$734.5M -$725.5M -$781.8M
YoY Change -4.89% -7.2%
Common Stock $550.3M $550.2M $548.1M
YoY Change 0.6% 0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.17M $24.17M $24.17M
YoY Change 0.0% 0.0%
Treasury Stock Shares $2.869M $2.869M $2.869M
Shareholders Equity -$208.3M -$199.5M -$257.8M
YoY Change
Total Liabilities & Shareholders Equity $940.6M $949.5M $1.027B
YoY Change -6.29% -7.55% -6.82%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$8.947M -$13.34M $75.90M
YoY Change -193.6% -117.57% 64.07%
Depreciation, Depletion And Amortization $26.60M $25.13M $38.84M
YoY Change -29.63% -35.31% 4.98%
Cash From Operating Activities -$6.200M $21.20M $80.30M
YoY Change -113.6% -73.6% -55.31%
INVESTING ACTIVITIES
Capital Expenditures $20.60M -$1.200M -$188.1M
YoY Change -139.16% -99.36% -10000.0%
Acquisitions
YoY Change
Other Investing Activities -$26.50M $0.00
YoY Change -100.0%
Cash From Investing Activities -$5.900M -$1.200M -$188.1M
YoY Change -88.78% -99.36% -685.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -700.0K 0.000 83.90M
YoY Change -70.83% -100.0% -4295.0%
NET CHANGE
Cash From Operating Activities -6.200M 21.20M 80.30M
Cash From Investing Activities -5.900M -1.200M -188.1M
Cash From Financing Activities -700.0K 0.000 83.90M
Net Change In Cash -12.80M 20.00M -23.90M
YoY Change 36.17% -183.68% -111.39%
FREE CASH FLOW
Cash From Operating Activities -$6.200M $21.20M $80.30M
Capital Expenditures $20.60M -$1.200M -$188.1M
Free Cash Flow -$26.80M $22.40M $268.4M
YoY Change -127.29% -91.65% 50.96%

Facts In Submission

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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-23407000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-55764000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-35959000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3822000 USD
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
-9039000 USD
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
15850000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7951000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
14211000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
1993000 USD
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
7740000 USD
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
2442000 USD
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
15847000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-24539000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10610000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
114738000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33293000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
56532000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-261220000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
25000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
150000000 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
167718000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
23930000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
186596000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
41741000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
50000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
66000000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
-0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
-0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-41709000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
70000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
20000 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
83072000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24099000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8448000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32433000 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>
CY2020Q3 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
12354000 USD
CY2020Q2 wti Proceeds From Paycheck Protection Program Under Cares Act
ProceedsFromPaycheckProtectionProgramUnderCaresAct
8400000 USD
wti Increase Decrease Operating Lease Expense
IncreaseDecreaseOperatingLeaseExpense
-2300000 USD
wti Increase Decrease General And Administrative Expense
IncreaseDecreaseGeneralAndAdministrativeExpense
4200000 USD
wti Increase Decrease Interest Expense Net
IncreaseDecreaseInterestExpenseNet
1900000 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 <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> September </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2020,</em> and the year ended <em style="font: inherit;"> December 31, 2019, </em>approximat<span style="background-color:#ffffff;">ely 56% and </span>63%, respectively, of our revenue was from <span style="-sec-ix-hidden:c66363228"><span style="-sec-ix-hidden:c66363229">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 (in thousands): </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 36pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; 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;">288</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, September 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);">10,186</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
288000 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10186000 USD
CY2019Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
7266000 USD
CY2020Q3 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
5022000 USD
CY2019Q4 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
4357000 USD
CY2020Q3 us-gaap Prepaid Royalties
PrepaidRoyalties
4473000 USD
CY2019Q4 us-gaap Prepaid Royalties
PrepaidRoyalties
7980000 USD
CY2020Q3 us-gaap Supplies
Supplies
1264000 USD
CY2019Q4 us-gaap Supplies
Supplies
10202000 USD
CY2020Q3 us-gaap Other Assets Current
OtherAssetsCurrent
494000 USD
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
886000 USD
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
23607000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
30691000 USD
CY2020Q3 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8554349000 USD
CY2019Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8532196000 USD
CY2020Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
20387000 USD
CY2019Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
20317000 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8574736000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8552513000 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7880432000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7803715000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
694304000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
748798000 USD
CY2019Q4 wti Proportional Consolidation Adjustment In Other Asset
ProportionalConsolidationAdjustmentInOtherAsset
5308000 USD
CY2020Q3 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
3692000 USD
CY2019Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
2653000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12343000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7936000 USD
CY2020Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2386000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
3798000 USD
CY2020Q3 us-gaap Other Long Term Investments
OtherLongTermInvestments
3218000 USD
CY2019Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
2590000 USD
CY2020Q3 wti Unamortized Brokerage Fee
UnamortizedBrokerageFee
1378000 USD
CY2019Q4 wti Unamortized Brokerage Fee
UnamortizedBrokerageFee
3423000 USD
CY2020Q3 wti Proportional Consolidation Adjustment In Other Asset
ProportionalConsolidationAdjustmentInOtherAsset
1625000 USD
CY2020Q3 wti Appeal Bond Deposit Assets Noncurrent
AppealBondDepositAssetsNoncurrent
0 USD
CY2019Q4 wti Appeal Bond Deposit Assets Noncurrent
AppealBondDepositAssetsNoncurrent
6925000 USD
CY2020Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
996000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
814000 USD
CY2020Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25638000 USD
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
33447000 USD
CY2020Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
7921000 USD
CY2019Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1785000 USD
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
44460000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30896000 USD
CY2020Q3 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
12013000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
632000 USD
CY2020Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
33263000 USD
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9988000 USD
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
624747000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
719533000 USD
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
355594000 USD
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
2788000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
17019000 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
4355000 USD
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
7555000 USD
CY2020Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
381735000 USD
CY2020Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
19522000 USD
CY2020Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
362213000 USD
CY2020Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-11161000 USD
CY2019Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
5853000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
35337000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-41228000 USD
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
42028000 USD
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
17583000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
11870000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7135000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
10874043
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1075000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1248000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3142000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2429000 USD
CY2020Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
24700000 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
54400000 USD
CY2019Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
1900000 USD
CY2019Q3 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
16900000 USD
CY2019Q3 wti Interest Income Related To Income Tax Refunds
InterestIncomeRelatedToIncomeTaxRefunds
500000 USD
wti Interest Income Related To Income Tax Refunds
InterestIncomeRelatedToIncomeTaxRefunds
4500000 USD
CY2020Q3 wti Incentive Compensation Total
IncentiveCompensationTotal
1229000 USD
CY2019Q3 wti Incentive Compensation Total
IncentiveCompensationTotal
3599000 USD
wti Incentive Compensation Total
IncentiveCompensationTotal
7935000 USD
wti Incentive Compensation Total
IncentiveCompensationTotal
8397000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-21100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-23300000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-55500000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-67000000.0 USD
CY2020Q3 wti Income Tax Benefit Cares Act
IncomeTaxBenefitCaresAct
19000000.0 USD
wti Income Tax Benefit Cares Act
IncomeTaxBenefitCaresAct
27500000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-55800000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-13339000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
75899000 USD
us-gaap Net Income Loss
NetIncomeLoss
46737000 USD
us-gaap Net Income Loss
NetIncomeLoss
64527000 USD
CY2020Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2019Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1345000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
549000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1272000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13339000 USD
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.53
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
74554000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
46188000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
63255000 USD
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
141624000
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
140567000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
141589000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
140520000
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.33
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.45
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1677000
CY2019Q3 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
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2010Q4 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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