HOUSTON, Feb. 20, 2013 /PRNewswire/ -- W&T Offshore, Inc. (NYSE:WTI) (the "Company") announced today that it has closed the exchange offer relating to its 8.500% Senior Notes Due 2019. The Company's offer to exchange up to $300,000,000 aggregate principal amount of its 8.500% Senior Notes Due 2019 ("Old Notes") that were not registered under the Securities Act of 1933, as amended (the "Securities Act"), for an equal principal amount of its 8.500% Senior Notes Due 2019 ("New Notes") that have been registered under the Securities Act, expired at 5:00 p.m., New York City time, on February 19, 2013. On February 20, 2013, the Company closed the exchange offer. The Company received and accepted tenders of 100% of the Old Notes that were outstanding.
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.
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.
SVP & CFO
SOURCE W&T Offshore, Inc.