W&T Offshore Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
Whoever buys today is betting that the gas price stays strong, the sureties dispute ends benignly and the teardown bill is worked off on schedule — three conditions, none of which is in management’s hands, with negative equity as the margin of safety. Whoever waits sees in the coming quarterly reports whether the loss streak really ends and how the sureties case plays out — and gives up the first leg of a possible continuation of the rally in return. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
W&T Offshore is a leveraged betting slip on the natural gas price: the operational comeback (Q1 2026: production up 19 percent, loss narrowed) and 58 percent gas reserves honestly explain the year-to-date doubling of the share price. But the balance sheet carries a teardown bill of $561.8 million — more than the company is worth on the exchange —, equity is depleted at minus $199.8 million, surety insurers still demand roughly $160 million in collateral, and a third of the reserves will be gone in three years. Whoever invests here holds no commodity, but a lever on the gas price and on decommissioning discipline. Not investment advice.
Operating momentum & gas lever
First-quarter 2026 production up 19 percent to 36,211 barrels of oil equivalent per day, revenues up 15.5 percent, the loss narrowed; about 58 percent of reserves are natural gas, whose realized price rose from $2.65 (2024) to $5.41 per thousand cubic feet (Q1 2026); cash of $130.9 million (March 31, 2026), notes not due until 2029 (quarterly report 10-Q as of March 31, 2026).
Decommissioning obligations (ARO)
$561.8 million of booked decommissioning obligations (December 31, 2025) exceed the market value of roughly $0.5 billion (July 8, 2026); from 2023 through 2025, $110.5 million in real cash went into decommissioning work — about 44 percent of operating cash flow; the auditor lists the ARO estimate as a critical audit matter, and the regulator BSEE is pressing for "idle iron" pluggings.
Balance sheet & earnings quality
Stockholders’ equity of minus $199.8 million (December 31, 2025; March 31, 2026: minus $221.8 million), net results worse for the third year running ($150.1 million loss in 2025), deferred tax assets nearly fully written down; an Altman Z-score around 0 and a fundamental grade of D (data as of July 8, 2026); the debt costs a 10.75 percent coupon.
Sureties dispute & regulation
Of $254.7 million in demanded cash collateral, roughly $160 million remains contested after the June 2025 settlements with USSIC and PIIC; W&T counters with an antitrust counterclaim. Since April 2025 the U.S. regulator waives supplemental financial assurance — except for properties with no predecessor left on the hook, the core of the W&T model (annual report 10-K 2025).
Reserves & ownership structure
Per the independent consultant, 34.0 percent of proved reserves will be depleted within three years, and only 6.7 million barrels of undeveloped projects remain — replenishment requires acquisitions or drilling risk. Against that stands a founder-CEO since 1983 with roughly 37 percent insider ownership (data as of July 8, 2026), whose interests the report simultaneously lists as its own risk factor.
Worth Noting
WTI reached our research list via the Reddit hype scanner (ApeWisdom, 2 mentions in 24 hours, as of July 15, 2026) — a mini echo that may additionally be noisy because the ticker is identical to the West Texas Intermediate crude benchmark. The 7 hits in our in-house stock scanner carry the July 8, 2026 data cut-off and rotate daily.
Scanner metrics (P/S, P/CF, Altman Z, Piotroski, stress-day rating) are computed from trailing twelve-month figures; the improved first quarter of 2026 and the June 2025 sureties settlement show up in them only with a lag.
Price and valuation figures are dated to July 8, 2026 (about $3.20, market value roughly $0.5 billion); analyses are evergreen, daily prices are not a buy argument.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at WTI since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 1.50 $ to 4.90 $ · Last price: 3.90 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Oil & Gas E&P
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| W&T Offshore Inc WTI | 0.6 | – | 6.3 | 43.3 | – | -4.5 | 119.5 |
| ConocoPhillips COP | 162.3 | 22.7 | 6.5 | 47.6 | 22.1 | 7.5 | 46.4 |
| EOG Resources Inc EOG | 78.1 | 14.3 | 5.8 | 62.6 | 37.9 | -3.5 | 25.6 |
| Occidental Petroleum Corporation OXY | 59.0 | 77.4 | 5.6 | 73.3 | 17.7 | -20.3 | 26.8 |
| Devon Energy Corporation DVN | 55.7 | 13.4 | 7.4 | 50.3 | 6.9 | 7.8 | 42.1 |
| Diamondback Energy Inc FANG | 55.4 | 199.4 | 9.4 | 72.4 | 5.8 | 36.3 | 43.9 |
| EQT Corporation EQT | 31.6 | 9.8 | 5.6 | 80.8 | 57.4 | 73.7 | 2.1 |
| Texas Pacific Land Corporation TPL | 23.4 | 47.7 | 33.1 | 93.3 | 77.2 | 13.1 | 14.8 |
| Expand Energy Corporation EXE | 21.1 | 6.5 | 3.7 | 47.1 | 34.0 | 176.0 | -9.4 |
| Median of companies shown | 55.4 | 18.5 | 6.3 | 62.6 | 28.0 | 7.8 | 26.8 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 400 | -331 | -249 | -2.60 | 14 | -659 | 830 |
| 2017 | 487 | 110 | 80 | 0.58 | 159 | -574 | 908 |
| 2018 | 581 | 247 | 249 | 1.79 | 322 | -325 | 849 |
| 2019 | 535 | 119 | 74 | 0.53 | 232 | -249 | 1,004 |
| 2020 | 347 | 1 | 38 | 0.27 | 109 | -208 | 941 |
| 2021 | 558 | 190 | -41 | -0.29 | 134 | -247 | 1,193 |
| 2022 | 921 | 454 | 231 | 1.59 | 340 | 8 | 1,432 |
| 2023 | 533 | 29 | 16 | 0.11 | 115 | 31 | 1,114 |
| 2024 | 525 | -42 | -87 | -0.59 | 60 | -53 | 1,099 |
| 2025 | 501 | -53 | -150 | -1.01 | 77 | -200 | 956 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.16 | – | 120 | -9.10 | -19.40 | -4 | -19 |
| 2025: Q1 | -0.21 | – | 130 | -7.80 | -23.50 | -3 | -10 |
| 2025: Q2 | -0.14 | – | 122 | -14.30 | -17.10 | 28 | 35 |
| 2025: Q3 | -0.48 | – | 128 | 5.10 | -56.10 | 27 | 5 |
| 2025: Q4 | -0.18 | – | 122 | 1.10 | -22.30 | 25 | 15 |
| 2026: Q1 | -0.15 | – | 150 | 15.50 | -15.00 | 2 | -8 |
| 2026: Q2 | 0.08 | 157.10 | 163 | 32.80 | 7.70 | 33 | 33 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 8 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.04 | -0.14 – 0.12 | 581 | 88.2% | 4 |
| 12/31/2027 | -0.11 | -0.26 – 0.01 | 554 | -141.8% | 4 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 4.3% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $37.7M |
|---|---|
| Market cap | $586.0M |
| Free cash flow in year ten | $57.3M |
| Terminal value as a share of market value | 51.5% |
For comparison: over the past five years free cash flow shrank by 20.5% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 16.07.2026 gegen den Geschäftsbericht (10-K) 2025 (eingereicht 16.03.2026), den 10-K 2024 und die vier jüngsten Quartalsberichte (10-Q): In den ausgewerteten SEC-Filings von W&T Offshore findet sich kein wesentlicher KI-Bezug. Die einzigen Erwähnungen sind zwei generische Risikofloskeln im Item 1A des 10-K 2025 — zum Technologie-Wettbewerb („The oil and natural gas industry is subject to rapid and significant advancements in technology, including the introduction of new products and services using new technologies (such as the use of artificial intelligence and machine learning)“; Übersetzung: „Die Öl- und Gasindustrie unterliegt schnellen und erheblichen technologischen Fortschritten, einschließlich der Einführung neuer Produkte und Dienstleistungen mit neuen Technologien (etwa dem Einsatz von künstlicher Intelligenz und maschinellem Lernen)“) und zur Cybersicherheit hypothetisch evaluierter Technologien („Certain new technologies that we may evaluate or deploy, such as use of autonomous vehicles, remote-controlled equipment, virtual reality, automation and artificial intelligence, present new and significant cybersecurity and safety risks“; Übersetzung: „Bestimmte neue Technologien, die wir prüfen oder einsetzen könnten — etwa autonome Fahrzeuge, ferngesteuerte Ausrüstung, virtuelle Realität, Automatisierung und künstliche Intelligenz — bergen neue und erhebliche Cybersicherheits- und Sicherheitsrisiken“). Weder KI-Umsatzquelle noch belegter operativer KI-Einsatz noch ein konkretes KI-Geschäftsrisiko fürs eigene Fördermodell; die 10-Qs und der 10-K 2024 enthalten keine KI-Treffer. Nach dem Kriterienkatalog: dokumentierter Negativ-Befund, Einstufung „neutral“.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-07 · 10-Q 2025-11-06 · 10-Q 2025-08-05 · 10-Q 2025-05-07 · 10-K 2026-03-16 · 10-K 2025-03-04
Rated on July 16, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -18.3%
- More than 10% revenue growth is expected for the coming year -0.3%
- Share count grows by less than 3% a year 0.7%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 1.0%
- Gross margin at 40% or higher and without meaningful erosion 71.7%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 2.4 x EBITDA
- Operating cash flow covers the profits of the last three years 474 m
- Return on capital at 15% or higher, or up versus two years ago -7.3%
- Insiders hold at least 10% or are net buyers 36.7%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
3/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 2.5%
- Exp. sales growth 3Y > 5% 5.1%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 5.1%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 7
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% -7.3%
- Expected return > 10% 10.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 8, 2026 | Gamblin Huan | EVP & Chief Technical Officer | Other | 3,271 | 3.43 | 11,220 |
| Aug 8, 2026 | Gamblin Huan | EVP & Chief Technical Officer | Other | 8,312 | – | – |
| Aug 8, 2026 | Williford William J | EVP & Chief Operating Officer | Other | 22,066 | 3.43 | 75,686 |
| Aug 8, 2026 | Williford William J | EVP & Chief Operating Officer | Other | 56,075 | – | – |
| Aug 8, 2026 | Parasnis Sameer | EVP & Chief Financial Officer | Other | 22,066 | 3.43 | 75,686 |
| Aug 8, 2026 | Parasnis Sameer | EVP & Chief Financial Officer | Other | 56,075 | – | – |
| Aug 8, 2026 | Krohn Tracy W | Chairman, CEO & President | Other | 52,304 | 3.43 | 179,403 |
| Aug 8, 2026 | Krohn Tracy W | Chairman, CEO & President | Other | 132,918 | – | – |
| Aug 8, 2026 | Hartman Bart P. III | VP & Chief Accounting Officer | Other | 2,922 | 3.43 | 10,022 |
| Aug 8, 2026 | Hartman Bart P. III | VP & Chief Accounting Officer | Other | 7,425 | – | – |
The company
About the Company
W&T Offshore, Inc. , an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of America.
- Employees
- 370
- Headquarters
- Houston, TX
- Address
- 5718 Westheimer Road, 77057-5745 Houston, United States
- Phone
- 713 626 8525
- Website
- wtoffshore.com
- IPO Date
- 01/28/2005
- ISIN
- US92922P1066
- Stock Split
- 500:1 on 01/29/2004
Management
| Name | Title | Birth Year |
|---|---|---|
| Tracy W. Krohn | Founder, Chairman, CEO & President | 1955 |
| Sameer Parasnis | Executive VP & CFO | 1975 |
| William J. Williford | ?Executive VP & COO | 1973 |
| Huan Gamblin | Executive VP & Chief Technical Officer | 1983 |
| George J. Hittner | Executive VP, General Counsel & Corporate Secretary | 1979 |
| Bart P. Hartman III | VP & Chief Accounting Officer | 1975 |
| Alvin T. Haynes | VP, Chief Information Officer & Chief Information Security Officer | – |
| Kristen Ecklund | Vice President of Human Resources | – |
| Todd E. Grabois | VP & Treasurer | 1960 |
| Al Petrie | Investor Relations Coordinator | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/07/2026 W&T OFFSHORE INC (WTI): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
- 08/05/2026 W&T OFFSHORE INC (WTI): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.