W&T Offshore Declares $0.01 Quarterly Dividend, 10th Consecutive Payment
W&T Offshore Inc (NYSE: WTI), a Gulf of Mexico oil and gas producer, declared a first quarter 2026 dividend of $0.01 per share. The payment continues the company's streak of consecutive quarterly dividends that began in 2023.
W&T Offshore Inc (NYSE: WTI), a Gulf of Mexico oil and gas producer, declared a first quarter 2026 dividend of $0.01 per share. The payment continues the company's streak of consecutive quarterly dividends that began in 2023, with the company having paid its ninth consecutive quarterly dividend in November 2025. Read more dividend announcements.
The dividend matches the prior quarter's payment of $0.01 per share. Shareholders of record on March 19, 2026 will receive payment on March 26, 2026.
| Dividend Details | Date |
|---|---|
| Amount per Share | $0.01 |
| Record Date | March 19, 2026 |
| Payment Date | March 26, 2026 |
| Frequency | Quarterly |
Financial Performance and Balance Sheet
W&T reported a net loss of $150.1 million, or $1.01 per diluted share, for full year 2025, compared with a net loss of $87.1 million, or $0.59 per diluted share, in 2024. The company generated Adjusted EBITDA of $129.6 million in 2025, down from $153.6 million the prior year.
Cash and cash equivalents stood at $140.6 million at year-end 2025, up $31.6 million from $109.0 million at year-end 2024. Total debt declined to $350.8 million from $393.2 million over the same period. Net Debt dropped to $210.3 million from $284.2 million, a reduction of $73.9 million.
The company generated net cash from operating activities of $77.2 million for full year 2025, up from $59.5 million in 2024. Capital expenditures totaled $54.8 million for the year.
Production and Operations
Production for 2025 averaged 34.0 thousand barrels of oil equivalent per day, totaling 12.4 million barrels of oil equivalent for the year. The production mix consisted of 5.1 million barrels of oil, 1.1 million barrels of natural gas liquids, and 36.9 billion cubic feet of natural gas.
The company increased production every quarter in 2025, reaching an exit rate of approximately 37,000 barrels of oil equivalent per day in December. Chairman and Chief Executive Officer Tracy W. Krohn noted the company accomplished this without drilling any new wells, spending only $55 million in capital expenditures.
W&T completed production enhancement and facility projects to bring all fields from its 2024 Cox acquisition online, including a project at the West Delta 73 field that required $20 million in capital expenditures to increase net realized oil prices.
Hedging Activity
The company added oil hedges in January and February 2026. These include two costless collars for 2,000 barrels per day each running from March through December 2026, with floor prices of $55.35 and $57.00 per barrel and ceiling prices of $68.60 and $70.20 per barrel, respectively. W&T also entered a swap for 2,000 barrels per day from April through December 2026 at $64.53 per barrel.