W&T Offshore (WTI) investor relations material

Operating profile

• 3Q26 net production was 38.2 MBoe/d, with an approximately 50/50 liquids-gas mix; MY26 2P reserves were 250.1 MMBoe.

• Acreage totaled 588K gross and 456K net acres across 48 offshore fields; 99% of net acreage is held by production and 90% of production is operated.

• MY26 reserves at SEC pricing: 127.3 MMBoe 1P, 250.1 MMBoe 2P and 372.1 MMBoe 3P; 2P PV-10 was $2.677B.

• Reserve life reached 19.6 years on a 1P basis and 19.5 years on a 2P basis at MY26.

Gulf of America opportunity

• Established infrastructure, favorable fiscal terms and major-operator divestments support a potential window for asset acquisitions and lower-risk drilling.

• Existing facilities and subsea tiebacks can reduce capital needs and accelerate cash generation; production handling agreements generated $89 MM in cumulative revenue from 2019 to 2025.

• Multiple oil and gas takeaway routes, a diverse production base and structural insurance coverage are part of hurricane risk management.

Growth strategy and execution

• Priorities include low-cost workovers and recompletions, optimizing existing fields, pursuing accretive acquisitions and advancing deepwater drilling options.

• Workovers and recompletions typically add 300–1,500 Boe/d per project with payback in less than one year; a robust project inventory can help reduce production decline.

• A portfolio of 10+ greenfield well options includes deepwater prospects with predominantly oil reserves; drilling could be self-funded or supported by a joint venture.

• MY26 PDP reserves increased 58% from YE24 without drilling a new well; top 10 wells had produced 78,030 MBoe versus an original NSAI forecast of 33,449 MBoe.

• Acquisitions include ExxonMobil assets for $171 MM, with 11,301 Boe/d net average production, and Cox assets for $77 MM, with 6,878 Boe/d.