W&T Offshore | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 127.52 M

Revenue: As of FY2025 Q3, the actual value is USD 127.52 M, beating the estimate of USD 126.39 M.

EPS: As of FY2025 Q3, the actual value is USD -0.48, missing the estimate of USD -0.1053.

EBIT: As of FY2025 Q3, the actual value is USD -3.612 M.

Segment Revenue

• Oil Revenue: $84,131,000 for the three months ended September 30, 2025, compared to $90,862,000 for the same period in 2024, a decrease of $6,731,000.
• Natural Gas Revenue: $37,400,000 for the three months ended September 30, 2025, compared to $23,148,000 for the same period in 2024, an increase of $14,252,000.

Operational Metrics

• Net Loss: - $71,474,000 for the three months ended September 30, 2025, compared to - $36,921,000 for the same period in 2024.
• Operating Loss: - $12,610,000 for the three months ended September 30, 2025, compared to - $18,964,000 for the same period in 2024.
• Total Operating Expenses: $140,125,000 for the three months ended September 30, 2025, compared to $140,336,000 for the same period in 2024.

Cash Flow

• Net Cash Provided by Operating Activities: $51,303,000 for the nine months ended September 30, 2025, compared to $63,856,000 for the same period in 2024.
• Net Cash Used in Financing Activities: - $67,141,000 for the nine months ended September 30, 2025, compared to - $6,616,000 for the same period in 2024.

Unique Metrics

• Average Realized Sales Price for Oil: $64.62 per barrel for the three months ended September 30, 2025, compared to $75.09 per barrel for the same period in 2024.
• Average Daily Equivalent Sales: 35,598 Boe/day for the three months ended September 30, 2025, compared to 31,022 Boe/day for the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: The company expects to support its business requirements primarily with cash on hand and cash generated from operations. As of September 30, 2025, the company had $124.8 million of unrestricted cash on hand and $50.0 million available under its New Credit Agreement.
• Non-Core Business: The company is monitoring the impact of tariffs announced by the United States federal government in 2025, but does not currently expect the financial impact to be material to capital expenditures or operating expenses in 2025.