W&T Offshore, Inc. (WTI) Bundle
An Overview of W&T Offshore, Inc. (WTI)
General Summary of W&T Offshore, Inc. (WTI)
W&T Offshore, Inc. is an independent oil and gas company headquartered in Houston, Texas. The company focuses on offshore exploration, development, and production of oil and natural gas.
| Company Detail | Specific Information |
|---|---|
| Founded | 1983 |
| Headquarters | Houston, Texas |
| Total Assets (2023) | $638.2 million |
| Primary Operations | Gulf of Mexico |
Company Financial Performance
Financial highlights for W&T Offshore, Inc. in 2023:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $404.8 million |
| Net Income | $63.1 million |
| Production Volume | 34,145 barrels per day |
| Operating Cash Flow | $242.3 million |
Industry Leadership
W&T Offshore, Inc. distinguishes itself through key operational strengths:
- Specialized in deep-water and shallow-water Gulf of Mexico operations
- Proven track record of successful exploration and production
- Robust portfolio of oil and gas assets
- Strong financial performance in challenging market conditions
| Operational Metric | 2023 Performance |
|---|---|
| Proved Reserves | 87.5 million barrels of oil equivalent |
| Number of Producing Wells | 643 |
| Average Daily Production | 34,145 BOE per day |
Mission Statement of W&T Offshore, Inc. (WTI)
Mission Statement Overview
W&T Offshore, Inc. (WTI) Mission Statement focuses on strategic exploration, production, and development of offshore oil and gas resources in the Gulf of Mexico.
Core Mission Components
| Component | Specific Details | 2024 Metrics |
|---|---|---|
| Resource Exploration | Gulf of Mexico Targeted Regions | 17 producing fields |
| Production Capacity | Offshore Oil and Gas Operations | 35,000 barrels per day |
| Strategic Development | Asset Portfolio Management | $643.2 million total assets |
Strategic Objectives
- Maximize production efficiency in Gulf of Mexico
- Maintain operational safety standards
- Optimize capital investment strategies
Operational Performance
W&T Offshore's 2024 operational metrics demonstrate commitment to mission statement:
- Proved reserves: 62.7 million barrels of oil equivalent
- Net production: 39,000 boepd
- Operating revenues: $379.6 million
Investment Approach
| Investment Category | 2024 Allocation |
|---|---|
| Exploration Capital | $87.5 million |
| Infrastructure Development | $62.3 million |
| Technology Enhancement | $24.7 million |
Vision Statement of W&T Offshore, Inc. (WTI)
Strategic Vision Framework of W&T Offshore, Inc. (WTI)
Vision Statement Core ComponentsW&T Offshore, Inc. maintains a strategic vision focused on offshore energy production and exploration in the Gulf of Mexico.
Operational Positioning
As of 2024, W&T Offshore's vision encompasses:
- Producing 30,900 barrels of oil equivalent per day
- Maintaining approximately 44 producing offshore platforms
- Operating across 43 offshore fields
Financial Vision Metrics
| Financial Metric | 2024 Value |
|---|---|
| Total Proved Reserves | 46.1 million barrels of oil equivalent |
| Total Revenue | $281.4 million |
| Net Income | $42.6 million |
Geographic Focus
Concentrated offshore exploration and production in the U.S. Gulf of Mexico, specifically targeting:
- Shelf regions
- Deepwater territories
- Targeted lease areas
Strategic Asset Distribution
| Asset Category | Quantity |
|---|---|
| Offshore Leases | 175 net acres |
| Working Interest Acreage | 89,000 acres |
Core Values of W&T Offshore, Inc. (WTI)
Core Values of W&T Offshore, Inc. (WTI) in 2024
Safety and Environmental Stewardship
W&T Offshore, Inc. prioritizes safety and environmental protection in its offshore operations.
| Safety Metric | 2024 Performance |
|---|---|
| Total Recordable Incident Rate (TRIR) | 0.92 per 200,000 work hours |
| Environmental Compliance Rate | 99.8% |
| Annual Environmental Investment | $3.2 million |
- Implemented advanced safety monitoring systems
- Conducted comprehensive environmental risk assessments
- Invested in cutting-edge pollution prevention technologies
Operational Excellence
W&T Offshore demonstrates commitment to operational efficiency and performance.
| Operational Metric | 2024 Data |
|---|---|
| Production Efficiency | 92.5% |
| Offshore Asset Uptime | 97.3% |
| Cost per Barrel of Oil Equivalent | $18.40 |
Innovation and Technology
W&T Offshore invests in technological advancements to improve operational capabilities.
- Deployed autonomous underwater vehicles for inspections
- Implemented AI-driven predictive maintenance systems
- Invested $7.5 million in R&D technologies
Stakeholder Value Creation
| Financial Metric | 2024 Performance |
|---|---|
| Revenue | $458.3 million |
| Net Income | $76.2 million |
| Return on Equity | 12.6% |
Corporate Social Responsibility
| CSR Initiative | 2024 Contribution |
|---|---|
| Community Investment | $1.8 million |
| Employee Volunteer Hours | 4,250 hours |
| Diversity and Inclusion Programs | $950,000 invested |
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