W&T Offshore (WTI) investor relations material

Company background and leadership

• Over 40 years of experience in the Gulf of America, with a focus on value creation through acquisitions and operational expertise.

• Listed on the NYSE since 2005, with headquarters in Houston, TX.

• Management team has deep technical, financial, and legal expertise, with high shareholder alignment.

• Approximately $2.7 billion in acquisitions since IPO, maintaining a ~90% drilling success rate since 2011.

• Q1 2026 net production was 36.2 MBoe/d, with year-end 2025 2P reserves of 242.2 MMBoe.

Strategic positioning and market opportunity

• Operates in the Gulf of America, a prolific, infrastructure-rich offshore basin with favorable fiscal and regulatory terms.

• Market dynamics driven by major oil companies divesting assets, creating acquisition opportunities.

• Long-term lease stability and a 10-year deepwater royalty cap enhance project economics.

• Widespread infrastructure and established marketing contracts provide economic and operational advantages.

• Multiple takeaway options and insurance coverage help mitigate hurricane and weather risks.

Core strengths and business model

• Highly experienced team with a proven track record in accretive M&A and operational excellence.

• Large, diversified asset base with nearly 20 years of reserve life and a balanced liquids-gas mix.

• 96% of net acreage held by production, with 87% of production operated directly.

• Focus on generating free cash flow, optimizing assets, and maintaining a strong balance sheet.

• Over $1 billion in net debt reduction since 2014, with current liquidity of ~$175 million.