W&T Offshore Extends Credit Agreement Maturity Date

W&T Offshore, Inc. (NYSE:WTI) announced on December 27, 2024, that it has entered into the Twentieth Amendment to the Sixth Amended and Restated Credit Agreement. The agreement, dated as of December 27, 2024, includes the Company, certain guarantor subsidiaries, Alter Domus (US) LLC as administrative agent, and various lenders and other involved parties. The primary amendment extends the maturity date of the Credit Agreement from December 31, 2024, to January 31, 2025.

As of September 30, 2024, there were no outstanding borrowings under the Credit Agreement, and no borrowings were taken during the nine months ending September 30, 2024. The Company had $4.4 million in outstanding letters of credit as of September 30, 2024, which were collateralized in cash.

The Twentieth Amendment is provided in full as Exhibit 10.1 in the company’s Current Report on Form 8-K, with the specifics of the agreement detailed in the filing. This extension allows W&T Offshore more time to manage its financial obligations effectively.

This filing also includes the incorporation by reference of Item 1.01 into Item 2.03 regarding the creation of direct financial obligations or off-balance sheet arrangements. Additionally, Exhibit 104, the Cover Page Interactive Data File, is included as part of the submission under Form 8-K.

W&T Offshore, Inc. continues to navigate its financial strategies and obligations, ensuring operational effectiveness and financial stability in the energy sector.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read W&T Offshore’s 8K filing here.

W&T Offshore Company Profile

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.