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W&T Offshore (WTI) investor relations material
W&T Offshore Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved 10% sequential production growth to 33,500 BOE/d, driven by workovers and asset integration, with a focus on profitability and shareholder value.
Net loss for Q2 2025 was $20.9M, improved from Q1 2025, with Adjusted EBITDA up 9% to $35M.
Celebrated 20 years as a public company and highlighted a long track record of successful asset integration.
Enhanced liquidity, reduced net debt, and maintained disciplined capital allocation and acquisitions.
Major debt refinancing and litigation settlements improved liquidity and reduced collateral risk.
Financial highlights
Q2 2025 revenue was $122.4M, down year-over-year due to lower realized prices and volumes.
Adjusted EBITDA grew 9% to $35M; unrestricted cash exceeded $120M at quarter-end.
Lease operating expenses were $77M, within guidance; LOE per Boe was $25.20, up from Q2 2024.
Net cash from operations for six months was $24.8M; CapEx for Q2 2025 was $10M.
Midyear SEC proved reserves were 123M BOE, with a pre-tax PV-10 of $1.2B.
Outlook and guidance
Q3 2025 production guidance midpoint is 35,000 BOE/d; full-year 2025: 33.1–36.6 MBoe/d.
Full-year capital expenditures expected between $34M and $42M, excluding acquisitions.
Cash operating costs expected to remain flat, with per-BOE costs decreasing as production rises.
Management expects current liquidity and cash flows to cover operational and capital needs for at least the next 12 months.
EIA forecasts lower oil prices for the remainder of 2025 and into 2026, with natural gas prices expected to rise in 2026.
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