W&T Offshore Enters Material Definitive Agreement

TL;DR

W&T Offshore just signed a big deal, filing an 8-K on 4/29/24.

AI Summary

W&T Offshore, Inc. entered into a material definitive agreement on April 29, 2024, related to a direct financial obligation. The company, incorporated in Texas, filed an 8-K report detailing this event. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates a significant financial commitment or obligation for W&T Offshore, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce financial risks and operational changes for the company.

Key Players & Entities

• W&T Offshore, Inc. (company) — Registrant
• April 29, 2024 (date) — Date of earliest event reported
• Texas (location) — State of Incorporation
• 713 . 626.8525 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.00001 — ch registered Common Stock, par value $0.00001 WTI New York Stock Exchange Item
• $4.4 million — s of December 31, 2023, the Company had $4.4 million outstanding in letters of credit which

Filing Documents

• tm2412856d1_8k.htm (8-K) — 24KB
• tm2412856d1_ex10-1.htm (EX-10.1) — 51KB
• 0001104659-24-055065.txt ( ) — 252KB
• wti-20240429.xsd (EX-101.SCH) — 3KB
• wti-20240429_lab.xml (EX-101.LAB) — 33KB
• wti-20240429_pre.xml (EX-101.PRE) — 22KB
• tm2412856d1_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On April 29, 2024, W&T Offshore, Inc. (together with its guarantor subsidiaries, the "Company") entered into a Seventeenth Amendment to the Sixth Amended and Restated Credit Agreement (the "Seventeenth Amendment") dated as of April 29, 2024, among the Company, certain of its guarantor subsidiaries, Alter Domus (US) LLC, as administrative agent, and certain of the Company's lenders and other parties thereto (as heretofore amended, the "Credit Agreement"). The Seventeenth Amendment, which became effective as of April 29, 2024, amends the Sixth Amended and Restated Credit Agreement dated as of October 18, 2018 to extend the maturity date from April 30, 2024 to May 31, 2024. As of December 31, 2023, there were no borrowings outstanding under the Credit Agreement and no borrowings had been incurred under the Credit Agreement during the year ended December 31, 2023. As of December 31, 2023, the Company had $4.4 million outstanding in letters of credit which have been cash collateralized. The foregoing description of the Seventeenth Amendment does not purport to be complete and is qualified in its entirety by reference to the Seventeenth Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.

03 Creation of a Direct Financial Obligation or an Obligation

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 above hereby is incorporated into this Item 2.03 by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are included as part of this Current Report on Form 8-K: Exhibit Number Description 10.1 Seventeenth Amendment to the Sixth Amended and Restated Credit Agreement, dated as of April 29, 2024, by and among W&T Offshore, Inc., the guarantor subsidiaries party thereto, Alter Domus (US) LLC, and the various agents and lenders and other parties thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. W&T OFFSHORE, INC. (Registrant) Dated: April 30, 2024 By: /s/ Sameer Parasnis Name: Sameer Parasnis Title: Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR