W & T Offshore Inc (WTI) financial statements: income statement, balance sheet and cash flow
W & T Offshore Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), W & T Offshore Inc reported revenue of $501.5M (-4.5% year on year).
Income statement
W & T Offshore Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$501.5M
$525.3M
$532.7M
$921.0M
Lease operating expenses
$298.8M
$281.5M
$257.7M
$224.4M
Gathering, transportation and production taxes
$25.7M
$28.2M
$26.3M
$35.1M
Depreciation, depletion, and amortization
$116.4M
$143.0M
$114.7M
$107.1M
Asset retirement obligations accretion
$33.4M
$32.4M
$29.0M
$26.5M
General and administrative expenses
$80.0M
$82.4M
$75.5M
$73.7M
Total operating expenses
$554.3M
$567.5M
$503.2M
$466.9M
Operating (loss) income
($52.8M)
($42.2M)
$29.5M
$454.1M
Interest expense, net
$36.5M
$40.5M
$44.7M
$69.4M
Loss on extinguishment of debt
$15.0M
—
—
$0
Derivative gain, net
($13.6M)
($3.6M)
($54.8M)
$85.5M
Other expense, net
$8.4M
$18.1M
$5.6M
$14.3M
(Loss) income before income taxes
($99.1M)
($97.1M)
$33.9M
$284.8M
Income tax expense (benefit)
$50.9M
($10.0M)
$18.3M
$53.7M
Net (loss) income
($150.1M)
($87.1M)
$15.6M
$231.1M
Net (loss) income common share - Basic (in dollars per share)
-$1.01
-$0.59
$0.11
$1.61
Net (loss) income common share - Diluted (in dollars per share)
-$1.01
-$0.59
$0.11
$1.59
Weighted average common shares outstanding - basic (in shares)
148.2M
147.1M
146.5M
143.1M
Weighted average common shares outstanding - diluted (in shares)
148.2M
147.1M
148.3M
145.1M
W & T Offshore Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenues
$162.6M
$150.0M
$127.5M
$122.4M
Lease operating expenses
$71.6M
$66.1M
$76.2M
$76.9M
Gathering, transportation and production taxes
$6.6M
$8.7M
$5.8M
$5.5M
Depreciation, depletion, and amortization
$25.6M
$27.3M
$28.6M
$26.4M
Asset retirement obligations accretion
$8.8M
$8.5M
$8.0M
$8.7M
General and administrative expenses
$27.5M
$24.8M
$21.5M
$17.7M
Total operating expenses
$140.0M
$135.4M
$140.1M
$135.2M
Operating income (loss)
$22.6M
$14.6M
($12.6M)
($12.9M)
Interest expense, net
$9.2M
$9.2M
$9.0M
$9.0M
Derivative loss (gain), net
$1.9M
$24.5M
($4.1M)
($12.0M)
Other expense, net
$287.0K
$831.0K
($2.0M)
$13.5M
Income (loss) before income taxes
$11.2M
($19.9M)
($15.5M)
($23.3M)
Income tax expense (benefit)
($1.4M)
$2.6M
$56.0M
($2.4M)
Net income (loss)
$12.6M
($22.5M)
($71.5M)
($20.9M)
Net income (loss) per common share - Basic (in dollars per share)
$0.08
-$0.15
-$0.48
-$0.14
Net income (loss) per common share - Diluted (in dollars per share)
$0.08
-$0.15
-$0.48
-$0.14
Weighted average common shares outstanding - basic (in shares)
149.7M
148.8M
148.6M
147.8M
Weighted average common shares outstanding - diluted (in shares)
157.7M
148.8M
148.6M
147.8M
Balance sheet
W & T Offshore Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$140.6M
$109.0M
$173.3M
$461.4M
Restricted cash
$62.0K
$1.6M
$4.4M
$4.4M
Oil, natural gas liquids and natural gas sales
$59.6M
$63.6M
$52.1M
$66.1M
Joint interest, net
$24.5M
$25.8M
$15.5M
$14.0M
Prepaid expenses and other current assets
$14.5M
$18.5M
$17.4M
$24.3M
Total current assets
$239.3M
$218.5M
$265.0M
$570.3M
Oil and natural gas properties and other, net
$662.1M
$777.7M
—
—
Restricted deposits for asset retirement obligations
$24.0M
$22.7M
$22.3M
$21.5M
Deferred income taxes
$35.0K
$48.8M
$38.8M
$57.3M
Other assets
$30.4M
$31.2M
$38.9M
$47.5M
Total assets
$955.8M
$1.1B
$1.1B
$1.4B
Accounts payable
$98.4M
$83.6M
$78.9M
$65.2M
Accrued liabilities
$39.8M
$33.3M
$31.9M
$74.0M
Undistributed oil and natural gas proceeds
$59.1M
$53.1M
$42.1M
$41.9M
Advances from joint interest partners
$2.4M
$2.4M
$3.0M
$3.2M
Current portion of asset retirement obligations
$26.1M
$46.3M
$31.6M
$25.4M
Current portion of long-term debt, net
$8.5M
$27.3M
$29.4M
$582.2M
Total current liabilities
$234.3M
$246.1M
$216.9M
$792.3M
Asset retirement obligations
$535.7M
$502.5M
$467.3M
$441.1M
Long-term debt, net
$342.4M
$365.9M
$361.2M
$111.2M
Other liabilities
$15.8M
$16.2M
$19.4M
$59.1M
Commitments and contingencies
$27.4M
$20.8M
$18.0M
$20.4M
Common stock: $0.00001 par value; 400,000 shares authorized; 151,647 shares and 150,243 shares issued, respectively
2.0K
2.0K
1.0K
1.0K
Additional paid-in capital
$604.7M
$595.4M
$586.0M
$576.6M
Retained deficit
($780.3M)
($623.8M)
($530.7M)
($544.8M)
Treasury stock: 2,869 shares, at cost
-24.2M
-24.2M
-24.2M
-24.2M
Total shareholders' deficit
($199.8M)
($52.6M)
$31.2M
$7.6M
Total liabilities and shareholders' deficit
$955.8M
$1.1B
$1.1B
$1.4B
W & T Offshore Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$150.7M
$130.9M
$124.8M
$120.7M
Oil, natural gas liquids and natural gas sales
$67.1M
$72.4M
$57.3M
$58.2M
Joint interest, net of allowance for credit losses of $10,629 and $10,529, respectively
$25.6M
$27.6M
$28.1M
$31.7M
Prepaid expenses and other current assets
$19.4M
$18.4M
$17.5M
$25.8M
Total current assets
$262.8M
$249.4M
$229.3M
$237.9M
Oil and natural gas properties and other, net of accumulated depreciation, depletion and amortization of $8,526,024 and $8,473,181, respectively
$641.7M
$655.1M
$678.7M
$674.6M
Restricted deposits for asset retirement obligations
$24.1M
$24.4M
$23.0M
$23.1M
Deferred income taxes
$88.0K
$63.0K
—
$56.6M
Other assets
$30.8M
$30.3M
$29.7M
$31.6M
Total assets
$959.5M
$959.2M
$960.6M
$1.0B
Accounts payable
$88.8M
$90.6M
$89.4M
$87.2M
Accrued liabilities
$37.5M
$62.4M
$18.9M
$25.1M
Undistributed oil and natural gas proceeds
$63.3M
$61.6M
$54.6M
$53.5M
Advances from joint interest partners
$2.3M
$2.3M
$2.4M
$2.4M
Current portion of asset retirement obligations
$24.4M
$25.5M
$34.5M
$31.8M
Current portion of long-term debt, net
$8.2M
$8.3M
$8.6M
$579.0K
Total current liabilities
$224.4M
$250.6M
$208.5M
$200.6M
Asset retirement obligations
$548.8M
$540.6M
$531.5M
$525.0M
Long-term debt, net
$343.4M
$342.9M
$341.8M
$349.5M
Other liabilities
$14.5M
$21.1M
$17.5M
$17.5M
Commitments and contingencies
$24.5M
$25.7M
$33.8M
$34.0M
Common stock: $0.00001 par value; 400,000 shares authorized; 153,785 shares and 151,647 shares issued, respectively
2.0K
2.0K
2.0K
2.0K
Additional paid-in capital
$621.5M
$606.9M
$603.1M
$599.9M
Retained deficit
($793.5M)
($804.5M)
($751.5M)
($678.5M)
Treasury stock: 2,869 shares, at cost
-24.2M
-24.2M
-24.2M
-24.2M
Total shareholders' deficit
($196.2M)
($221.8M)
($172.5M)
($102.7M)
Total liabilities and shareholders' deficit
$959.5M
$959.2M
$960.6M
$1.0B
Cash flow statement
W & T Offshore Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net (loss) income
($150.1M)
($87.1M)
$15.6M
$231.1M
Depreciation, depletion, amortization and accretion
$149.8M
$175.4M
$143.7M
$133.6M
Share-based compensation
$12.2M
$10.2M
$10.4M
$7.9M
Amortization of debt issuance costs
$3.4M
$4.6M
$7.0M
$7.6M
Loss on extinguishment of debt
$15.0M
—
—
$0
Derivative gain, net
($13.6M)
($3.6M)
($54.8M)
$85.5M
Derivative cash receipts, net
$14.6M
$4.5M
($8.9M)
($41.9M)
Deferred income expense (benefit)
$50.7M
($10.1M)
$18.5M
$45.2M
Accounts receivable
$5.3M
($19.6M)
$14.1M
($11.2M)
Prepaid expenses and other current assets
$3.4M
($1.4M)
($2.7M)
$31.9M
Accounts payable, accrued liabilities and other
$23.3M
$26.4M
$10.7M
($12.0M)
Asset retirement obligation settlements
($36.8M)
($39.7M)
($34.0M)
($76.2M)
Net cash provided by operating activities
$77.2M
$59.5M
$115.3M
$339.5M
Investment in oil and natural gas properties and equipment
($48.6M)
($37.4M)
($41.3M)
($41.6M)
Acquisition of property interests
($711.0K)
($80.6M)
($27.4M)
($51.5M)
Proceeds from sale of oil and natural gas properties
$11.9M
—
—
—
Insurance proceeds
$58.5M
—
—
—
Purchases of furniture, fixtures and other
($121.0K)
($185.0K)
($3.4M)
($80.0K)
Distribution from unconsolidated affiliate
$927.0K
—
—
—
Net cash provided by (used in) investing activities
$21.9M
($118.2M)
($81.6M)
($95.1M)
Proceeds from issuance of Senior Second Lien Notes
$350.0M
—
$275.0M
—
Repayment of Senior Second Lien Notes
($269.8M)
—
($552.5M)
$0
Repayment of Term Loan
($114.2M)
—
($33.7M)
($43.0M)
Repayments of TVPX Loan
($1.1M)
($1.1M)
($733.0K)
—
Purchase of government securities in connection with legal defeasance of 11.75% Senior Second Lien Notes
($5.3M)
—
—
—
Premium payments and debt extinguishment costs
($10.2M)
—
—
—
Debt issuance costs
($11.6M)
($762.0K)
($7.4M)
($1.7M)
Payment of dividends
($6.0M)
($5.9M)
($1.5M)
—
Other
($767.0K)
($798.0K)
($957.0K)
($716.0K)
Net cash used in financing activities
($69.0M)
($8.6M)
($321.7M)
($28.9M)
Change in cash, cash equivalents and restricted cash
$30.1M
($67.2M)
($288.0M)
$215.6M
Cash, cash equivalents and restricted cash, beginning of year
$110.6M
$177.8M
$465.8M
$250.2M
Cash, cash equivalents and restricted cash, end of period
$140.6M
$110.6M
—
—
W & T Offshore Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net loss
($10.0M)
($22.5M)
($122.9M)
($51.5M)
Depreciation, depletion, amortization and accretion
$70.1M
$35.8M
$113.0M
$76.4M
Share-based compensation
$18.5M
$7.4M
$8.5M
$5.0M
Amortization of debt issuance costs
$1.6M
$779.0K
$2.6M
$1.8M
Derivative loss (gain), net
$26.4M
$24.5M
($13.4M)
($9.3M)
Derivative premium payment
($7.3M)
—
—
—
Derivative cash (settlements) receipts, net
($13.5M)
$318.0K
$14.2M
$2.9M
Deferred income tax benefit
($53.0K)
($27.0K)
$48.8M
($7.8M)
Accounts receivable
($8.6M)
($15.9M)
$4.0M
$106.0K
Prepaid expenses and other current assets
($3.5M)
($2.9M)
$674.0K
$785.0K
Accounts payable, accrued liabilities and other
($17.2M)
($7.8M)
$5.7M
$7.3M
Asset retirement obligation settlements
($20.6M)
($17.2M)
($24.9M)
($16.0M)
Net cash provided by operating activities
$35.9M
$2.6M
$51.3M
$24.8M
Investment in oil and natural gas properties and equipment
($18.8M)
($10.1M)
($38.9M)
($17.1M)
Purchases of furniture, fixtures and other
($203.0K)
($203.0K)
($121.0K)
($114.0K)
Net cash (used in) provided by investing activities
($19.0M)
($10.3M)
$31.6M
$52.5M
Repayments of TVPX Loan
($550.0K)
($275.0K)
($825.0K)
($550.0K)
Debt issuance costs
($94.0K)
($159.0K)
($11.5M)
($11.5M)
Payment of dividends
($3.1M)
($1.5M)
($4.5M)
($3.0M)
Other
($3.1M)
—
($764.0K)
($422.0K)
Net cash used in financing activities
($6.8M)
($1.9M)
($67.1M)
($65.5M)
Change in cash, cash equivalents and restricted cash
$10.1M
($9.7M)
$15.8M
$11.7M
Cash, cash equivalents and restricted cash, beginning of year
$140.6M
$140.6M
$110.6M
$110.6M
Cash, cash equivalents and restricted cash, end of period