W&T Offshore, Inc. Earnings Recaps
Q3 2025
Nov 6, 2025
W&T Offshore's third quarter 2025 results demonstrate robust operational performance, with a 6% quarter-over-quarter production increase and an 11% rise in adjusted EBITDA, despite lower commodity prices.
Key takeaways
- Produced 35,600 barrels of oil equivalent per day, exceeding guidance and representing a 15% year-over-year increase.
- Adjusted EBITDA rose to $39 million, supported by disciplined cost management, reducing lease operating expenses (LOE) by 8% to approximately $23 per barrel.
- Strengthened balance sheet with unrestricted cash of $125 million, reduced net debt to under $226 million, and maintained a consistent quarterly dividend.
- Total capital expenditures for 2025 projected at $60 million, reflecting strategic investments stemming from the 2024 Cox acquisition.
- Accomplished significant liquidity enhancements, including a $350 million second lien notes offering and a new undrawn $50 million revolver.