W&T Offshore, Inc. Announces Closing of $275 Million 11.75% Senior Second Lien Notes Due 2026
January 30, 2023 at 11:45 am
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W&T Offshore, Inc. announced the closing of its previously announced offering of $275 million in aggregate principal amount of 11.75% Senior Second Lien Notes due 2026 at par in a private offering that is exempt from registration under the Securities Act of 1933, as amended. The Company intends to use the net proceeds of the offering, along with cash on hand, to fund the redemption of all of the Company's 9.75% Senior Second Lien Notes due 2023. On the closing date of the offering of the Notes, the Company satisfied and discharged the indenture governing the Existing Second Lien Notes.
W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. It has a working interest in over 53 offshore producing fields in federal and state waters (which include 44 fields in federal waters and nine in state waters). The Company has under lease approximately 597,100 gross acres (440,000 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 435,600 gross acres on the conventional shelf, approximately 153,500 gross acres in the deepwater and 8,000 gross acres in Alabama onshore. The Company's wholly owned subsidiaries consists of Aquasition Energy, LLC, Aquasition, LLC, Aquasition II, LLC, Aquasition III, LLC, Aquasition IV, LLC, Aquasition V, LLC, Green Hell, LLC, Seaquester, LLC, Seaquestration, LLC, and W & T Energy VI, LLC.
W&T OFFSHORE, INC. 
