W&T Offshore Announces Accretive Acquisition of Producing Properties in the Gulf of Mexico
HOUSTON, Sept. 21, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) (the "Company" or "W&T") today announced that it has completed the acquisition of working interests in eight shallow water oil and gas producing assets (the "Assets") in the central and eastern shelf region of the Gulf of Mexico ("GOM") from an undisclosed private seller. The acquisition has a closing date of September 20, 2023, and an effective date of June 1, 2023. The Assets were acquired for a gross consideration of $32 million, subject to normal and customary post-effective date purchase price adjustments. W&T used its cash on the balance sheet to pay the net purchase price. Key highlights of the transaction are
