$WTI
W&T OFFSHORE INC

2023 Q4 Form 10-Q Financial Statement

#000155837023018113 Filed on November 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $132.3M $142.4M
YoY Change -30.24% -46.56%
Cost Of Revenue $64.64M $61.83M
YoY Change -6.34% 4.77%
Gross Profit $67.70M $80.59M
YoY Change -43.91% -61.16%
Gross Profit Margin 51.15% 56.59%
Selling, General & Admin $24.87M $26.67M
YoY Change -18.29% -24.33%
% of Gross Profit 36.74% 33.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.04M $30.22M
YoY Change 19.82% 9.91%
% of Gross Profit 60.62% 37.5%
Operating Expenses $65.91M $63.30M
YoY Change 1.89% -8.73%
Operating Profit $1.791M $17.28M
YoY Change -96.8% -87.49%
Interest Expense $3.470M $9.925M
YoY Change -64.71% -41.09%
% of Operating Profit 193.75% 57.43%
Other Income/Expense, Net -$3.772M -$1.927M
YoY Change -75.7% -421.17%
Pretax Income $1.489M $6.922M
YoY Change -97.04% -91.67%
Income Tax $1.932M $4.800M
% Of Pretax Income 129.75% 69.34%
Net Earnings -$443.0K $2.145M
YoY Change -101.02% -96.79%
Net Earnings / Revenue -0.33% 1.51%
Basic Earnings Per Share $0.01
Diluted Earnings Per Share $0.00 $0.01
COMMON SHARES
Basic Shares Outstanding 146.6M 146.5M
Diluted Shares Outstanding 151.5M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $173.3M $149.0M
YoY Change -62.43% -66.68%
Cash & Equivalents $173.3M $149.0M
Short-Term Investments
Other Short-Term Assets $74.00K $80.00K
YoY Change 124.24% 81.82%
Inventory
Prepaid Expenses
Receivables $52.08M $48.52M
Other Receivables $2.218M $275.0K
Total Short-Term Assets $265.0M $248.7M
YoY Change -53.53% -59.26%
LONG-TERM ASSETS
Property, Plant & Equipment $749.1M $771.5M
YoY Change 1.88% 5.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.182M $2.924M
YoY Change -11.05% -8.42%
Other Assets $38.92M $40.39M
YoY Change -18.14% -38.51%
Total Long-Term Assets $849.0M $876.6M
YoY Change -1.45% -0.35%
TOTAL ASSETS
Total Short-Term Assets $265.0M $248.7M
Total Long-Term Assets $849.0M $876.6M
Total Assets $1.114B $1.125B
YoY Change -22.19% -24.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $78.86M $80.41M
YoY Change 21.02% 11.6%
Accrued Expenses $31.88M $34.26M
YoY Change -56.94% -77.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $29.37M $30.02M
YoY Change -94.96% -15.33%
Total Short-Term Liabilities $216.9M $215.7M
YoY Change -72.63% -43.36%
LONG-TERM LIABILITIES
Long-Term Debt $361.2M $367.1M
YoY Change 224.89% -44.87%
Other Long-Term Liabilities $19.37M $29.45M
YoY Change -67.25% -68.95%
Total Long-Term Liabilities $380.6M $396.6M
YoY Change 123.46% -47.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $216.9M $215.7M
Total Long-Term Liabilities $380.6M $396.6M
Total Liabilities $597.5M $612.3M
YoY Change -37.94% -46.37%
SHAREHOLDERS EQUITY
Retained Earnings -$530.7M -$528.7M
YoY Change -2.59% -10.11%
Common Stock $586.0M $582.9M
YoY Change 1.63% 4.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.19M $29.99M
YoY Change
Total Liabilities & Shareholders Equity $1.114B $1.125B
YoY Change -22.19% -24.49%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$443.0K $2.145M
YoY Change -101.02% -96.79%
Depreciation, Depletion And Amortization $41.04M $30.22M
YoY Change 19.82% 9.91%
Cash From Operating Activities $35.66M $30.03M
YoY Change 181.28% -66.29%
INVESTING ACTIVITIES
Capital Expenditures $9.187M $39.69M
YoY Change -21.79% -576.65%
Acquisitions
YoY Change
Other Investing Activities $7.030M -$5.227M
YoY Change 10.83% 113.26%
Cash From Investing Activities -$2.157M -$44.91M
YoY Change -60.08% 316.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.162M -7.751M
YoY Change -231.81% -13.0%
NET CHANGE
Cash From Operating Activities 35.66M 30.03M
Cash From Investing Activities -2.157M -44.91M
Cash From Financing Activities -9.162M -7.751M
Net Change In Cash 24.34M -22.63M
YoY Change 71.12% -132.61%
FREE CASH FLOW
Cash From Operating Activities $35.66M $30.03M
Capital Expenditures $9.187M $39.69M
Free Cash Flow $26.48M -$9.656M
YoY Change 2737.83% -109.91%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity File Number
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dei Entity Registrant Name
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W&T OFFSHORE, INC.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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dei Entity Address Address Line1
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dei Entity Address State Or Province
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dei Security12b Title
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145882000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
149856000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144696000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
24791000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
3250000
CY2023Q3 wti Adjustments To Additional Paid In Capital Shares Withheld Related To Net Settlement Of Equity Awards
AdjustmentsToAdditionalPaidInCapitalSharesWithheldRelatedToNetSettlementOfEquityAwards
199000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
2145000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
29987000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-124369000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
2645000
CY2022Q3 wti Adjustments To Additional Paid In Capital Shares Withheld Related To Net Settlement Of Equity Awards
AdjustmentsToAdditionalPaidInCapitalSharesWithheldRelatedToNetSettlementOfEquityAwards
14000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
66721000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-55017000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
7634000
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
7259000
wti Adjustments To Additional Paid In Capital Shares Withheld Related To Net Settlement Of Equity Awards
AdjustmentsToAdditionalPaidInCapitalSharesWithheldRelatedToNetSettlementOfEquityAwards
947000
us-gaap Net Income Loss
NetIncomeLoss
16041000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
29987000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-247180000
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
5179000
wti Adjustments To Additional Paid In Capital Shares Withheld Related To Net Settlement Of Equity Awards
AdjustmentsToAdditionalPaidInCapitalSharesWithheldRelatedToNetSettlementOfEquityAwards
716000
us-gaap Net Income Loss
NetIncomeLoss
187700000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-55017000
us-gaap Profit Loss
ProfitLoss
16041000
us-gaap Profit Loss
ProfitLoss
187700000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
102660000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
99384000
us-gaap Share Based Compensation
ShareBasedCompensation
7259000
us-gaap Share Based Compensation
ShareBasedCompensation
5179000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5714000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6114000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
41560000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-109892000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
-6123000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
-1022000
wti Derivative Cash Premium Payments
DerivativeCashPremiumPayments
-46111000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
14647000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
40171000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-17624000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
34276000
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
2049000
wti Increase Decrease In Joint Interest Receivables
IncreaseDecreaseInJointInterestReceivables
7070000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-25550000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
26816000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-34475000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
65566000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
24918000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
61285000
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
-74000
wti Increase Decrease In Cash Advances From Joint Venture Partners
IncreaseDecreaseInCashAdvancesFromJointVenturePartners
-12055000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-634000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
1480000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
79662000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
326851000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
30959000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
29966000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1285000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8237000
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
28863000
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
51474000
wti Payments For Deposit Related To Acquisition Of Property Interests
PaymentsForDepositRelatedToAcquisitionOfPropertyInterests
8850000
wti Payments To Purchase Corporate Aircraft
PaymentsToPurchaseCorporateAircraft
8983000
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
3081000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-79451000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-89677000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
552460000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
26329000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
33837000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
458000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
275000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7380000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1290000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-948000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-716000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-312575000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-35843000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-312364000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
201331000
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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
153410000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
451547000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
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;"><b style="font-style:normal;font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:14.4pt;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>
CY2023Q3 wti Concentration Risks Net Receivable Maximum Number Of Companies
ConcentrationRisksNetReceivableMaximumNumberOfCompanies
10
CY2023Q3 wti Oil And Gas Joint Interest Billing Receivables Allowance For Credit Loss Current
OilAndGasJointInterestBillingReceivablesAllowanceForCreditLossCurrent
11200000
CY2022Q4 wti Oil And Gas Joint Interest Billing Receivables Allowance For Credit Loss Current
OilAndGasJointInterestBillingReceivablesAllowanceForCreditLossCurrent
12100000
CY2023Q3 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
1294000
CY2022Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
4954000
CY2023Q3 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
8955000
CY2022Q4 wti Unamortized Bond Insurance Premiums
UnamortizedBondInsurancePremiums
6046000
CY2023Q3 us-gaap Deposit Assets
DepositAssets
8850000
CY2023Q3 us-gaap Prepaid Royalties
PrepaidRoyalties
7322000
CY2022Q4 us-gaap Prepaid Royalties
PrepaidRoyalties
9139000
CY2023Q3 us-gaap Supplies
Supplies
1520000
CY2022Q4 us-gaap Supplies
Supplies
1767000
CY2023Q3 wti Prepayments To Joint Interest Partners
PrepaymentsToJointInterestPartners
2242000
CY2022Q4 wti Prepayments To Joint Interest Partners
PrepaymentsToJointInterestPartners
1717000
CY2023Q3 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
213000
CY2022Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
687000
CY2023Q3 us-gaap Other Assets Current
OtherAssetsCurrent
80000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
33000
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
30476000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
24343000
CY2023Q3 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8908490000
CY2022Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
8813404000
CY2023Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
43087000
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
20915000
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8951577000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8834319000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8180123000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8099104000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
771454000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
735215000
CY2023Q3 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
56000
CY2022Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
396000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
871000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10623000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10364000
CY2023Q3 us-gaap Other Long Term Investments
OtherLongTermInvestments
2924000
CY2022Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
2453000
CY2023Q3 wti Proportional Consolidation Adjustment In Other Asset
ProportionalConsolidationAdjustmentInOtherAsset
10805000
CY2022Q4 wti Proportional Consolidation Adjustment In Other Asset
ProportionalConsolidationAdjustmentInOtherAsset
9321000
CY2023Q3 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
14372000
CY2022Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
23236000
CY2023Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1662000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
2175000
CY2023Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
40386000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
47549000
CY2023Q3 us-gaap Interest Payable Current
InterestPayableCurrent
5430000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
8967000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9065000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15097000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1628000
CY2023Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
17659000
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
46595000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1183000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1358000
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
34264000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
74041000
CY2023Q3 wti Dispute Related To Royalty Deductions Noncurrent
DisputeRelatedToRoyaltyDeductionsNoncurrent
5250000
CY2022Q4 wti Dispute Related To Royalty Deductions Noncurrent
DisputeRelatedToRoyaltyDeductionsNoncurrent
4937000
CY2023Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
11790000
CY2022Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
43061000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11700000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10527000
CY2023Q3 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
708000
CY2022Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
609000
CY2023Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
29448000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
59134000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
397159000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
693437000
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
30015000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
582249000
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
367144000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
111188000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46800000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.506
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.200
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21700000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15300000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
397159000
CY2023Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
406841000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
693437000
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
683958000
CY2023Q3 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-1971000
CY2022Q3 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-132289000
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-2501000
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-96315000
CY2023Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
3462000
CY2022Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
93540000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
44061000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-13577000
CY2023Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1491000
CY2022Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-38749000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
41560000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-109892000
wti Realized Gain Or Loss Through Restructuring Of Strike Prices
RealizedGainOrLossThroughRestructuringOfStrikePrices
138000000.0
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
41560000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-109892000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
-6123000
wti Proceeds From Payments For Derivative Instrument Operating Activities
ProceedsFromPaymentsForDerivativeInstrumentOperatingActivities
-1022000
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
466429000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
424495000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
24918000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
61285000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
21641000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
19536000
wti Asset Retirement Obligation Liabilities Acquired
AssetRetirementObligationLiabilitiesAcquired
16352000
wti Asset Retirement Obligation Liabilities Acquired
AssetRetirementObligationLiabilitiesAcquired
33202000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
113000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
138000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
18797000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
37524000
CY2023Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
498414000
CY2022Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
453610000
CY2023Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
33169000
CY2022Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
54886000
CY2023Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
465245000
CY2022Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
398724000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3250000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2645000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7259000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5179000
CY2023Q3 wti Cash Based Incentive Compensation
CashBasedIncentiveCompensation
3751000
CY2022Q3 wti Cash Based Incentive Compensation
CashBasedIncentiveCompensation
5091000
wti Cash Based Incentive Compensation
CashBasedIncentiveCompensation
12188000
wti Cash Based Incentive Compensation
CashBasedIncentiveCompensation
8158000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4800000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16400000
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16400000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
2145000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
66721000
us-gaap Net Income Loss
NetIncomeLoss
16041000
us-gaap Net Income Loss
NetIncomeLoss
187700000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
146483000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143116000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
146451000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143026000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4976000
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2766000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3405000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1670000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151459000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145882000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
149856000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144696000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.30
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.30
CY2010Q4 wti Additional Royalty Due To Disallowed Deductions
AdditionalRoyaltyDueToDisallowedDeductions
4700000
CY2021 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
20400000
CY2022 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
20400000
wti Decommissioning Obligation Expense
DecommissioningObligationExpense
4700000
wti Loss Contingency Decommissioning Obligation Expense
LossContingencyDecommissioningObligationExpense
2100000
CY2023Q3 wti Loss Contingency Estimate Of Possible Loss Of Decommissioning Obligations
LossContingencyEstimateOfPossibleLossOfDecommissioningObligations
17800000
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001558370-23-018113.txt Edgar Link pending
0001558370-23-018113-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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wti-20230930.xsd Edgar Link pending
wti-20230930x10q.htm Edgar Link pending
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wti-20230930xex10d3.htm Edgar Link pending
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wti-20230930_def.xml Edgar Link unprocessable
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wti-20230930_lab.xml Edgar Link unprocessable
wti-20230930_pre.xml Edgar Link unprocessable
wti-20230930x10q_htm.xml Edgar Link completed