Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
W&T Offshore, Inc., Valuation and Financial Data 7
W&T Offshore, Inc., Share Price Performance 7
Share Price Performance, Q4, 2010-Q4, 2011 7
W&T Offshore, Inc., Key Valuation Metrics 8
Key Valuation Metrics, Q4, 2010-Q4, 2011 8
W&T Offshore, Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 9
Results of Oil & Gas Operations Per boe Produced, Q4, 2010-Q4, 2011 9
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2010-Q4, 2011 10
W&T Offshore, Inc., Quarterly E&P Costs Trends 11
Upstream Capital Expenditure, Q4, 2010-Q4, 2011 11
W&T Offshore, Inc., Quarterly Production Trends 12
W&T Offshore, Inc., Total Oil and Gas Production 12
Total Crude Oil and Natural Gas Production Trend, Q4, 2010-Q4, 2011 12
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 13
W&T Offshore, Inc., Crude Oil Production 14
Total Crude Oil Production Trend, Q4, 2010-Q4, 2011 14
Crude Oil Production, By Country/Region, Q4, 2010-Q4, 2011 15
W&T Offshore, Inc., Natural Gas Production 16
Total Natural Gas Production Trend, Q4, 2010-Q4, 2011 16
Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 17
W&T Offshore, Inc., Valuation and Financial Data, 2007-2011 18
W&T Offshore, Inc., Share Price Performance, 2007-2011 18
Share Price Performance, 2007-2011 18
Key Valuation Metrics, 2007-2011 19
W&T Offshore, Inc., Production and Reserves Trends 20
Total Oil and Gas, Reserves and Production 20
Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011 20
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011 22
Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 24
Crude Oil/Liquids Production and Reserve 25
Crude Oil/Liquids Production and Reserve Trend, 2007-2011 25
Crude Oil Production and Reserves By Country/Region, 2007-2011 26
Crude Oil/Liquids Reserve Changes, 2007-2011 28
Natural Gas Production and Reserve 29
Natural Gas Production and Reserve Trend, 2007-2011 29
Natural Gas Production and Reserves, By Country/Region, 2007-2011 30
Natural Gas Reserve Changes, 2007-2011 32
Total Crude Oil and Natural Gas Reserves Life Index 33
Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011 33
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011 34
W&T Offshore, Inc., E&P Costs Trends 36
Allocation of the Upstream Capital Expenditure 36
Upstream Capital Expenditure, 2007-2011 36
Acquisition Costs By Country/Region, 2007-2011 37
Exploration and Development Costs, By Country/Region, 2007-2011 39
Oil and Gas Cost Per boe, $/boe 41
Oil and Gas Cost Per boe, $/boe, 2007-2011 41
Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011 43
W&T Offshore, Inc., Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2007-2011 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011 48
W&T Offshore, Inc., Results of Oil & Gas Operations Trend 52
Oil and Gas Revenue and Expenses 52
Oil and Gas Revenue and Expenses, 2007-2011 52
Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011 53
Oil and Gas Revenue and Expenses, Per boe 58
Oil and Gas Revenue and Expenses, By boe, 2007-2011 58
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011 59
Oil and Gas Performance Metrics 63
W&T Offshore, Inc., Land Holdings and Well Data 64
Developed and Undeveloped Acreage 64
Gross and Net Developed and Undeveloped Acreage, 2007-2011 64
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2007-2011 65
Well Statistics 68
Producible Oil and Gas Well, 2007-2011 68
Producible Oil and Gas Well, By Country/Region, 2007-2011 69
Exploration and Development Wells Drilled, 2007-2011 73
Exploration and Development Wells Drilled, By Country/Region, 2007-2011 74
Recent Developments 75
W&T Offshore, Inc. - Recent Developments 75
Feb 24, 2012: W&T Offshore Provides 2011 Drilling Update 75
Feb 23, 2012: W&T Offshore Provides 2011 Reserves Update 75
Feb 23, 2012: W&T Offshore Provides 2012 Capital Expenditures Budget 76
Mar 22, 2011: W&T Offshore Responds To Report Of Oil Sheen In Gulf Of Mexico 76
Mar 22, 2011: W&T Offshore And Stone Energy Join HWCG 76
Jan 18, 2011: W&T Offshore Appoints Jesus Melendrez As SVP And Chief Commercial Officer 77
Jan 05, 2011: W&T Offshore Announces 2011 Capital Budget 77
Appendix 79
Methodology 79
Coverage 79
Secondary Research 79
Primary Research 79
Data Information Sources 80
Company Source 80
SEC/Other Regulatory Filings 80
Other Sources 80
Expert Panel Validation 80
Data Definition 80
Oil and Gas Reserves 80
Units of Measure 81
About GlobalData 81
Disclosure 81
Disclaimer 81
Note: The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.
List of TablesList of Tables
Table 1: W&T Offshore, Inc., Share Price Performance, Q4, 2010-Q4, 2011 7
Table 2: W&T Offshore, Inc., Key Valuation Metrics, Q4, 2010-Q4, 2011 8
Table 3: W&T Offshore, Inc., Results of Oil & Gas Operations Per boe Produced, $/boe, Q4, 2010-Q4, 2011 9
Table 4: W&T Offshore, Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2010-Q4, 2011 10
Table 5: W&T Offshore, Inc., Upstream Capital Expenditure, Q4, 2010-Q4, 2011 11
Table 6: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production, Q4, 2010-Q4, 2011 12
Table 7: W&T Offshore, Inc., Total Oil & Gas Production, By Country/Region, MMboe, Q4, 2010-Q4, 2011 13
Table 8: W&T Offshore, Inc., Total Crude Oil Production, MMbbl, Q4, 2010-Q4, 2011 14
Table 9: W&T Offshore, Inc., Crude Oil Production, By Country/Region, MMbbl, Q4, 2010-Q4, 2011 15
Table 10: W&T Offshore, Inc., Total Natural Gas Production, Bcf, Q4, 2010-Q4, 2011 16
Table 11: W&T Offshore, Inc., Natural Gas Production, By Country/Region, Bcf, Q4, 2010-Q4, 2011 17
Table 12: W&T Offshore, Inc., Share Price Performance, 2007-2011 18
Table 13: W&T Offshore, Inc., Key Valuation Metrics, 2007-2011 19
Table 14: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2007-2011 21
Table 15: W&T Offshore, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2007-2011 23
Table 16: W&T Offshore, Inc., Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2007-2011 24
Table 17: W&T Offshore, Inc., Crude Oil Production and Reserves Metrics, MMbbl, 2007-2011 25
Table 18: W&T Offshore, Inc., Crude Oil Production and Reserves, By Country/Region, MMbbl, 2007-2011 27
Table 19: W&T Offshore, Inc., Crude Oil Reserve Changes, MMbbl, 2007-2011 28
Table 20: W&T Offshore, Inc., Natural Gas Production and Reserves Metrics, Bcf, 2007-2011 29
Table 21: W&T Offshore, Inc., Natural Gas Production and Reserves, By Country/Region, Bcf, 2007-2011 31
Table 22: W&T Offshore, Inc., Natural Gas Reserve Changes, Bcf, 2007-2011 32
Table 23: W&T Offshore, Inc., Oil and Gas Reserves Life Index, Years, 2007-2011 33
Table 24: W&T Offshore, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2007-2011 35
Table 25: W&T Offshore, Inc., Upstream Capital Expenditure, $m, 2007-2011 36
Table 26: W&T Offshore, Inc., Proved and Unproved Acquisition Costs, By Country/Region, $m, 2007-2011 38
Table 27: W&T Offshore, Inc., Exploration and Development Costs, By Country/Region, $m, 2007-2011 40
Table 28: W&T Offshore, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2007-2011 42
Table 29: W&T Offshore, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2007-2011 45
Table 30: W&T Offshore, Inc., Oil and Gas Production Replacement Ratio, %, 2007-2011 47
Table 31: W&T Offshore, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2007-2011 51
Table 32: W&T Offshore, Inc., Revenue and Expenses, $m, 2007-2011 52
Table 33: W&T Offshore, Inc., Revenue and Expenses, By Country/Region, $m, 2007-2011 57
Table 34: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, $/boe, 2007-2011 58
Table 35: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2007-2011 62
Table 36: W&T Offshore, Inc., Oil and Gas Performance Metrics, 2007-2011 63
Table 37: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2007-2011 64
Table 38: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2007-2011 67
Table 39: W&T Offshore, Inc., Producible Oil and Gas Wells, 2007-2011 68
Table 40: W&T Offshore, Inc., Producible Oil and Gas Wells, By Country/Region, 2007-2011 72
Table 41: W&T Offshore, Inc., Exploratory and Developed Wells, 2007-2011 73
Table 42: W&T Offshore, Inc., Exploratory and Developed Wells, By Country/Region, 2007-2011 74
Note: The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.
List of FiguresList of Figures
Figure 1: W&T Offshore, Inc., Share Price Performance, USD/Share, Q4, 2010-Q4, 2011 7
Figure 2: W&T Offshore, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2010-Q4, 2011 8
Figure 3: W&T Offshore, Inc., Results of Oil & Gas Operations Per boe Produced, $/boe, Q4, 2010-Q4, 2011 9
Figure 4: W&T Offshore, Inc., Upstream Capital Expenditure, $m, Q4, 2010-Q4, 2011 11
Figure 5: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production, MMboe, Q4, 2010-Q4, 2011 12
Figure 6: W&T Offshore, Inc., Total Oil & Gas Production, By Country/Region, MMboe, Q4, 2010-Q4, 2011 13
Figure 7: W&T Offshore, Inc., Total Crude Oil Production, MMbbl, Q4, 2010-Q4, 2011 14
Figure 8: W&T Offshore, Inc., Crude Oil Production, By Country/Region, MMbbl, Q4, 2010-Q4, 2011 15
Figure 9: W&T Offshore, Inc., Total Natural Gas Production, Bcf, Q4, 2010-Q4, 2011 16
Figure 10: W&T Offshore, Inc., Natural Gas Production, By Country/Region, Bcf, Q4, 2010-Q4, 2011 17
Figure 11: W&T Offshore, Inc., Share Price Performance, USD/Share, 2007-2011 18
Figure 12: W&T Offshore, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), 2007-2011 19
Figure 13: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2007-2011 20
Figure 14: W&T Offshore, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, MMboe, 2007-2011 22
Figure 15: W&T Offshore, Inc., Total Oil & Gas Production, By Country/Region, MMboe, 2007-2011 22
Figure 16: W&T Offshore, Inc., Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2011 24
Figure 17: W&T Offshore, Inc., Crude Oil Production and Reserves Metrics, MMbbl, 2007-2011 25
Figure 18: W&T Offshore, Inc., Oil Reserves, End of Period, By Country/Region, MMbbl, 2007-2011 26
Figure 19: W&T Offshore, Inc., Oil Production, By Country/Region, MMbbl, 2007-2011 26
Figure 20: W&T Offshore, Inc., Crude Oil Reserve Changes, MMbbl, 2011 28
Figure 21: W&T Offshore, Inc., Natural Gas Production and Reserves Metrics, Bcf, 2007-2011 29
Figure 22: W&T Offshore, Inc., Gas Reserves, End of Period, By Country/Region, Bcf, 2007-2011 30
Figure 23: W&T Offshore, Inc., Gas Production, By Country/Region, Bcf, 2007-2011 30
Figure 24: W&T Offshore, Inc., Natural Gas Reserve Changes, Bcf, 2011 32
Figure 25: W&T Offshore, Inc., Oil and Gas Reserves Life Index, Years, 2007-2011 33
Figure 26: W&T Offshore, Inc., Gas Reserve Life Index, By Country/Region, Ratio, 2007-2011 34
Figure 27: W&T Offshore, Inc., Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2007-2011 34
Figure 28: W&T Offshore, Inc., Oil Reserve Life Index, By Country/Region, Ratio, 2007-2011 35
Figure 29: W&T Offshore, Inc., Upstream Capital Expenditure, $m, 2007-2011 36
Figure 30: W&T Offshore, Inc., Proved Acquisition Costs, By Country/Region, $m, 2007-2011 37
Figure 31: W&T Offshore, Inc., Unproved Acquisition Costs, By Country/Region, $m, 2007-2011 37
Figure 32: W&T Offshore, Inc., Development Costs, By Country/Region, $m, 2007-2011 39
Figure 33: W&T Offshore, Inc., Exploration Costs, By Country/Region, $m, 2007-2011 39
Figure 34: W&T Offshore, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2007-2011 41
Figure 35: W&T Offshore, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 43
Figure 36: W&T Offshore, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 43
Figure 37: W&T Offshore, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 44
Figure 38: W&T Offshore, Inc., Proved Reserves Acquisition Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 44
Figure 39: W&T Offshore, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2007-2011 46
Figure 40: W&T Offshore, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2007-2011 48
Figure 41: W&T Offshore, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2007-2011 48
Figure 42: W&T Offshore, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2007-2011 49
Figure 43: W&T Offshore, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2007-2011 49
Figure 44: W&T Offshore, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2007-2011 50
Figure 45: W&T Offshore, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2007-2011 50
Figure 46: W&T Offshore, Inc., Revenue and Expenses, $m, 2007-2011 52
Figure 47: W&T Offshore, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 53
Figure 48: W&T Offshore, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 53
Figure 49: W&T Offshore, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 54
Figure 50: W&T Offshore, Inc., Oil & Gas Revenue, By Country/Region, $m, 2007-2011 54
Figure 51: W&T Offshore, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 55
Figure 52: W&T Offshore, Inc., Production Costs, By Country/Region, $m, 2007-2011 55
Figure 53: W&T Offshore, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 56
Figure 54: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, $/boe, 2007-2011 58
Figure 55: W&T Offshore, Inc., Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2007-2011 59
Figure 56: W&T Offshore, Inc., Lifting Cost per boe, By Country/Region, $/boe, 2007-2011 59
Figure 57: W&T Offshore, Inc., Annual Net Income per boe, By Country/Region, $/boe, 2007-2011 60
Figure 58: W&T Offshore, Inc., Oil & Gas Revenue per boe, By Country/Region, $/boe, 2007-2011 60
Figure 59: W&T Offshore, Inc., Total DD&A per boe, By Country/Region, $/boe, 2007-2011 61
Figure 60: W&T Offshore, Inc., Total Revenue per boe, By Country/Region, $/boe, 2007-2011 61
Figure 61: W&T Offshore, Inc., Oil and Gas Performance Metrics, 2007-2011 63
Figure 62: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2007-2011 64
Figure 63: W&T Offshore, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2007-2011 65
Figure 64: W&T Offshore, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2007-2011 65
Figure 65: W&T Offshore, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2007-2011 66
Figure 66: W&T Offshore, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2007-2011 66
Figure 67: W&T Offshore, Inc., Producible Oil and Gas Wells, 2007-2011 68
Figure 68: W&T Offshore, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2007-2011 69
Figure 69: W&T Offshore, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011 69
Figure 70: W&T Offshore, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2007-2011 70
Figure 71: W&T Offshore, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2007-2011 70
Figure 72: W&T Offshore, Inc., Net Productive Gas Wells, By Country/Region, Number, 2007-2011 71
Figure 73: W&T Offshore, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011 71
Figure 74: W&T Offshore, Inc., Net Productive Oil Wells, By Country/Region, Number, 2007-2011 72
Figure 75: W&T Offshore, Inc., Exploratory and Developed Wells, 2007-2011 73
Note: The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.
