W&T Offshore Extends 8.500% Senior Notes Exchange Offer

HOUSTON, Feb. 12, 2013 /PRNewswire/ -- W&T Offshore, Inc. (NYSE:WTI) (the "Company") announced today that it has extended the primary expiration date for its previously announced exchange offer relating to its outstanding 8.500% Senior Notes Due 2019 (the "Notes"), which commenced on January 10, 2013.

The exchange offer, which was initially scheduled to expire on 5:00 p.m., New York City time on February 11, 2013, has been extended until 5:00 p.m., New York City time on Tuesday, February 19, 2013.  Holders of Notes previously tendered for the exchange shall have the right to withdraw tenders of the Notes at any time prior to the expiration of the exchange offer.  As of February 11, 2013, holders of $299,875,000, or 99.96% of the outstanding principal amount of the Notes, had tendered their Notes for exchange.

About W&T Offshore, Inc.

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and onshore in both the Permian Basin of West Texas and in East Texas.  We have grown through acquisitions, exploration and development and currently hold working interests in approximately 72 offshore fields in federal and state waters (69 producing and three fields capable of producing).  W&T currently has over 1.4 million gross acres under lease including over 710,000 gross acres on the Gulf of Mexico Shelf, over 480,000 gross acres in the deepwater and over 221,000 gross acres onshore in Texas. A substantial majority of our daily production is derived from wells we operate offshore.  For more information on W&T Offshore, please visit our website at www.wtoffshore.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations, uncertainties and other factors discussed in W&T Offshore's Annual Report on Form 10-K for the year ended December 31, 2011 and subsequent Form 10-Q reports found at www.sec.gov.

CONTACT:

Mark Brewer

Danny Gibbons


Investor Relations

SVP & CFO


investorrelations@wtoffshore.com

investorrelations@wtoffshore.com


713-297-8024

713-624-7326

 

SOURCE W&T Offshore, Inc.

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