$WTI
W&T OFFSHORE INC

2023 Q3 Form 10-Q Financial Statement

#000155837023012956 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $142.4M $126.2M
YoY Change -46.56% -53.92%
Cost Of Revenue $61.83M $66.02M
YoY Change 4.77% 24.62%
Gross Profit $80.59M $60.16M
YoY Change -61.16% -72.76%
Gross Profit Margin 56.59% 47.68%
Selling, General & Admin $26.67M $24.20M
YoY Change -24.33% 0.19%
% of Gross Profit 33.1% 40.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.22M $35.89M
YoY Change 9.91% 29.68%
% of Gross Profit 37.5% 59.66%
Operating Expenses $63.30M $60.09M
YoY Change -8.73% 2.7%
Operating Profit $17.28M $71.00K
YoY Change -87.49% -99.96%
Interest Expense $9.925M -$9.494M
YoY Change -41.09% -152.21%
% of Operating Profit 57.43% -13371.83%
Other Income/Expense, Net -$1.927M $311.0K
YoY Change -421.17% -79.73%
Pretax Income $6.922M -$9.112M
YoY Change -91.67% -105.9%
Income Tax $4.800M $2.997M
% Of Pretax Income 69.34%
Net Earnings $2.145M -$12.11M
YoY Change -96.79% -109.81%
Net Earnings / Revenue 1.51% -9.6%
Basic Earnings Per Share $0.01 -$0.08
Diluted Earnings Per Share $0.01 -$0.08
COMMON SHARES
Basic Shares Outstanding 146.5M 146.5M
Diluted Shares Outstanding 151.5M 146.5M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.0M $171.6M
YoY Change -66.68% -54.56%
Cash & Equivalents $149.0M $171.6M
Short-Term Investments
Other Short-Term Assets $80.00K $25.78M
YoY Change 81.82% 47644.44%
Inventory
Prepaid Expenses
Receivables $48.52M $55.22M
Other Receivables $275.0K $1.941M
Total Short-Term Assets $248.7M $254.6M
YoY Change -59.26% -53.52%
LONG-TERM ASSETS
Property, Plant & Equipment $771.5M $748.5M
YoY Change 5.68% 0.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.924M $2.721M
YoY Change -8.42% -8.97%
Other Assets $40.39M $96.46M
YoY Change -38.51% 80.17%
Total Long-Term Assets $876.6M $847.7M
YoY Change -0.35% -4.98%
TOTAL ASSETS
Total Short-Term Assets $248.7M $254.6M
Total Long-Term Assets $876.6M $847.7M
Total Assets $1.125B $1.102B
YoY Change -24.49% -23.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.41M $67.29M
YoY Change 11.6% -16.95%
Accrued Expenses $34.26M $20.75M
YoY Change -77.78% -86.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $30.02M $30.55M
YoY Change -15.33% -17.87%
Total Short-Term Liabilities $215.7M $209.2M
YoY Change -43.36% -45.45%
LONG-TERM LIABILITIES
Long-Term Debt $367.1M $373.0M
YoY Change -44.87% -44.49%
Other Long-Term Liabilities $29.45M $495.1M
YoY Change -68.95% 425.27%
Total Long-Term Liabilities $396.6M $868.1M
YoY Change -47.87% 13.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $215.7M $209.2M
Total Long-Term Liabilities $396.6M $868.1M
Total Liabilities $612.3M $1.077B
YoY Change -46.37% -6.29%
SHAREHOLDERS EQUITY
Retained Earnings -$528.7M -$530.9M
YoY Change -10.11% -18.94%
Common Stock $582.9M $579.9M
YoY Change 4.58% 4.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.99M $24.79M
YoY Change
Total Liabilities & Shareholders Equity $1.125B $1.102B
YoY Change -24.49% -23.45%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $2.145M -$12.11M
YoY Change -96.79% -109.81%
Depreciation, Depletion And Amortization $30.22M $35.89M
YoY Change 9.91% 29.68%
Cash From Operating Activities $30.03M $26.20M
YoY Change -66.29% -87.54%
INVESTING ACTIVITIES
Capital Expenditures $39.69M $24.68M
YoY Change -576.65% -196.69%
Acquisitions
YoY Change
Other Investing Activities -$5.227M $3.453M
YoY Change 113.26% -141.03%
Cash From Investing Activities -$44.91M -$21.22M
YoY Change 316.75% -37.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.751M -10.74M
YoY Change -13.0% -23.51%
NET CHANGE
Cash From Operating Activities 30.03M 26.20M
Cash From Investing Activities -44.91M -21.22M
Cash From Financing Activities -7.751M -10.74M
Net Change In Cash -22.63M -5.762M
YoY Change -132.61% -103.55%
FREE CASH FLOW
Cash From Operating Activities $30.03M $26.20M
Capital Expenditures $39.69M $24.68M
Free Cash Flow -$9.656M $1.520M
YoY Change -109.91% -99.36%

Facts In Submission

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wti Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights Percentage Each Year
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
W&T OFFSHORE, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
TX
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
EntityAddressAddressLine1
5718 Westheimer Road, Suite 700
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EntityAddressCityOrTown
Houston
dei Entity Address State Or Province
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dei Security12b Title
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dei Trading Symbol
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
146452000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143020000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
146435000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
142981000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146452000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144525000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
149045000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144094000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
34838000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
2087000
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
25000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-12109000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
24791000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-249385000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
2014000
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
434000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
123436000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-124369000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
7634000
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
4009000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
748000
us-gaap Net Income Loss
NetIncomeLoss
13896000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
24791000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-247180000
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
2534000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
702000
us-gaap Net Income Loss
NetIncomeLoss
120979000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-124369000
us-gaap Profit Loss
ProfitLoss
13896000
us-gaap Profit Loss
ProfitLoss
120979000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
66028000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
65271000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4363000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4365000
us-gaap Share Based Compensation
ShareBasedCompensation
4009000
us-gaap Share Based Compensation
ShareBasedCompensation
2534000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
40069000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-71143000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
-4427000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
70227000
wti Derivative Cash Premium Payments
DerivativeCashPremiumPayments
-46111000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11580000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
27031000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-24804000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
44236000
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
-125000
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
3625000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-26992000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
30092000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-2345000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
3223000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
11841000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
39775000
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
-71000
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
-9813000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-43412000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
46638000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
49632000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
237759000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
22999000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
25489000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2338000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
5786000
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
47625000
wti Payments To Purchase Corporate Aircraft
PaymentsToPurchaseCorporateAircraft
8983000
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
218000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34538000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-78900000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
183000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
275000000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
552460000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
19181000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
24941000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7252000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1290000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-748000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-703000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-304824000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-26934000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-289730000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
131925000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
465774000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
250216000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
176044000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
382141000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:17.85pt;margin:0pt 0pt 12pt 0pt;">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, the reported amounts of revenues and expenses during the reporting periods and the reported amounts of proved oil and natural gas reserves. Actual results could differ from those estimates.</p>
CY2023Q2 wti Oil And Gas Joint Interest Billing Receivables Allowance For Credit Loss Current
OilAndGasJointInterestBillingReceivablesAllowanceForCreditLossCurrent
11300000
CY2022Q4 wti Oil And Gas Joint Interest Billing Receivables Allowance For Credit Loss Current
OilAndGasJointInterestBillingReceivablesAllowanceForCreditLossCurrent
12100000
CY2023Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
1778000
CY2022Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
4954000
CY2023Q2 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
8303000
CY2022Q4 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
6046000
CY2023Q2 us-gaap Prepaid Royalties
PrepaidRoyalties
6822000
CY2022Q4 us-gaap Prepaid Royalties
PrepaidRoyalties
9139000
CY2023Q2 us-gaap Supplies
Supplies
1628000
CY2022Q4 us-gaap Supplies
Supplies
1767000
CY2023Q2 wti Prepayments To Joint Interest Partners
PrepaymentsToJointInterestPartners
2319000
CY2022Q4 wti Prepayments To Joint Interest Partners
PrepaymentsToJointInterestPartners
1717000
CY2023Q2 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
427000
CY2022Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
687000
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
88000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
33000
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
21365000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
24343000
CY2023Q2 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8847421000
CY2022Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8813404000
CY2023Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
40224000
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
20915000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8887645000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8834319000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8149905000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8099104000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
737740000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
735215000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10728000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10364000
CY2023Q2 us-gaap Other Long Term Investments
OtherLongTermInvestments
2721000
CY2022Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
2453000
CY2023Q2 wti Proportional Consolidation Adjustment In Other Asset
ProportionalConsolidationAdjustmentInOtherAsset
9909000
CY2022Q4 wti Proportional Consolidation Adjustment In Other Asset
ProportionalConsolidationAdjustmentInOtherAsset
9321000
CY2023Q2 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
17184000
CY2022Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
23236000
CY2023Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1576000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
2175000
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
42118000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
47549000
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
13848000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
8967000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4808000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15097000
CY2023Q2 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
56000
CY2022Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
396000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1045000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1628000
CY2023Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
18518000
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
46595000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1048000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1358000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
39323000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
74041000
CY2023Q2 wti Dispute Related To Royalty Deductions Noncurrent
DisputeRelatedToRoyaltyDeductionsNoncurrent
5250000
CY2022Q4 wti Dispute Related To Royalty Deductions Noncurrent
DisputeRelatedToRoyaltyDeductionsNoncurrent
4937000
CY2023Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
17417000
CY2022Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
43061000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11709000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10527000
CY2023Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
665000
CY2022Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
609000
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
35041000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
59134000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
30550000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
582249000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
373021000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
111188000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
403571000
CY2023Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
406245000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
693437000
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
683958000
CY2023Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-300000
CY2022Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
79667000
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-530000
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
35973000
CY2023Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1129000
CY2022Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-70813000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
40599000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-107116000
CY2023Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
829000
CY2022Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
8854000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
40069000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-71143000
wti Realized Gain Or Loss Through Restructuring Of Strike Prices
RealizedGainOrLossThroughRestructuringOfStrikePrices
138000000.0
CY2022Q2 wti Realized Gain Or Loss Through Restructuring Of Strike Prices
RealizedGainOrLossThroughRestructuringOfStrikePrices
138000000.0
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
40069000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-71143000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
-4427000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
70227000
wti Derivative Cash Premium Payments
DerivativeCashPremiumPayments
-46111000
wti Cash Receipts Related To Natural Gas Call Contracts Through Restructuring Of Strike Prices
CashReceiptsRelatedToNaturalGasCallContractsThroughRestructuringOfStrikePrices
105300000
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
466430000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
11841000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
15227000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
113000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
10903000
CY2023Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
480832000
CY2023Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
37763000
CY2023Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
443069000
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y7M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.761
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.042
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
5694000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2087000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2014000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4009000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2534000
CY2023Q2 wti Incentive Compensation Total
IncentiveCompensationTotal
3307000
CY2022Q2 wti Incentive Compensation Total
IncentiveCompensationTotal
2866000
wti Incentive Compensation Total
IncentiveCompensationTotal
12446000
wti Incentive Compensation Total
IncentiveCompensationTotal
5599000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000.0
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31100000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.201
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11600000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.456
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30400000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.201
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
19800000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15300000
CY2023Q2 wti Federal Income Taxes Receivable Current
FederalIncomeTaxesReceivableCurrent
1700000
CY2023Q2 wti State Income Taxes Receivable Current
StateIncomeTaxesReceivableCurrent
200000
wti Federal Income Taxes Paid
FederalIncomeTaxesPaid
2200000
CY2023Q2 wti Federal Income Taxes Paid
FederalIncomeTaxesPaid
2200000
wti State Income Taxes Paid
StateIncomeTaxesPaid
300000
CY2023Q2 wti State Income Taxes Paid
StateIncomeTaxesPaid
300000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-12109000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
123436000
us-gaap Net Income Loss
NetIncomeLoss
13896000
us-gaap Net Income Loss
NetIncomeLoss
120979000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
243000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12109000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
123436000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13653000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
120979000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
146452000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143020000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
146435000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
142981000
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1505000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2610000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1113000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146452000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144525000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
149045000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144094000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2909000
CY2010Q4 wti Additional Royalty Due To Disallowed Deductions
AdditionalRoyaltyDueToDisallowedDeductions
4700000
CY2017Q3 wti Bonds Posted To Appeal Ibla Decision
BondsPostedToAppealIblaDecision
7200000
CY2017Q3 wti Collateral For Bonds Posted Related To Appeal With Ibla
CollateralForBondsPostedRelatedToAppealWithIbla
6900000
CY2023Q2 wti Collateral For Bonds Posted Related To Appeal With Ibla
CollateralForBondsPostedRelatedToAppealWithIbla
8900000
CY2022 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
20400000
wti Decommissioning Obligation Expense
DecommissioningObligationExpense
3400000
CY2023Q2 wti Loss Contingency Estimate Of Possible Loss Of Decommissioning Obligations
LossContingencyEstimateOfPossibleLossOfDecommissioningObligations
17000000.0
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001558370-23-012956-index-headers.html Edgar Link pending
0001558370-23-012956-index.html Edgar Link pending
0001558370-23-012956.txt Edgar Link pending
0001558370-23-012956-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
wti-20230630.xsd Edgar Link pending
wti-20230630x10q.htm Edgar Link pending
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wti-20230630xex10d2.htm Edgar Link pending
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wti-20230630_lab.xml Edgar Link unprocessable
wti-20230630_pre.xml Edgar Link unprocessable
wti-20230630_def.xml Edgar Link unprocessable
wti-20230630x10q_htm.xml Edgar Link completed
wti-20230630_cal.xml Edgar Link unprocessable