W&T Offshore Delivers Record-Breaking Quarter with Strong Production Growth and Enhanced Liquidity
In a conference call on March 17, 2026, W&T Offshore's management team reported solid operational and financial results for the fourth quarter and full year 2025. The company's Chairman and CEO, Tracy Krohn, highlighted the success of their strategic vision, which focuses on cash flow generation, maintaining and optimizing high-quality conventional assets, and opportunistically capitalizing on accretive opportunities to build shareholder value.
One of the key highlights of the quarter was W&T Offshore's ability to increase production every quarter in 2025. Production rose from 30,500 barrels of oil equivalent per day (boepd) in the first quarter to 36,200 boepd in the fourth quarter, driven by a focus on production enhancement projects.
The company also reported significant capital expenditures, investing $55 million in 2025 and performing 34 workovers and 4 recompletions. This investment helped generate adjusted EBITDA of $130 million for the full year 2025, demonstrating the company's commitment to optimizing its assets and generating cash flow.
W&T Offshore also made significant strides in enhancing its liquidity and reducing debt. At year-end 2025, the company grew its cash reserves by $31 million year over year to almost $141 million and reduced its net debt by $74 million to $210 million, further strengthening its balance sheet.
The company's proved reserves also showed a significant increase, with year-end 2025 reserves standing at 121 million barrels of oil equivalent (boe) and a present value (PV-10) of $1.1 billion. This growth in reserves is expected to provide a strong foundation for future production and cash flow.
Krohn noted that the company's ability to deliver consistent production and EBITDA results while integrating producing property acquisitions has been key to its success over its 40+ year history. The integration of these assets has allowed W&T Offshore to grow its production and reserves, while also reducing costs and maximizing value.
The conference call also highlighted the company's commitment to returning value to its shareholders through its quarterly dividend program. W&T Offshore has paid nine consecutive quarterly cash dividends since initiating the policy in late 2023 and announced the first quarter 2026 payment that will occur later this month.
