W&T Offshore Enters Material Definitive Agreement

TL;DR

W&T Offshore just signed a big deal, watch their financials.

AI Summary

W&T Offshore, Inc. entered into a material definitive agreement on December 27, 2024, related to a direct financial obligation. The company, incorporated in Texas, filed its 8-K report on January 2, 2025, detailing this significant financial event.

Why It Matters

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

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks that may affect the company's performance.

Key Players & Entities

• W&T Offshore, Inc. (company) — Registrant
• December 27, 2024 (date) — Date of earliest event reported
• January 2, 2025 (date) — Filing date
• Texas (location) — State of incorporation

FAQ

Key Financial Figures

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

Filing Documents

• tm2432175d1_8k.htm (8-K) — 30KB
• tm2432175d1_ex10-1.htm (EX-10.1) — 47KB
• 0001104659-25-000389.txt ( ) — 255KB
• wti-20241227.xsd (EX-101.SCH) — 3KB
• wti-20241227_lab.xml (EX-101.LAB) — 33KB
• wti-20241227_pre.xml (EX-101.PRE) — 22KB
• tm2432175d1_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 27, 2024, W&T Offshore, Inc. (together with its guarantor subsidiaries, the "Company") entered into a Twentieth Amendment to the Sixth Amended and Restated Credit Agreement (the "Twentieth Amendment") dated as of December 27, 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 Twentieth Amendment, which became effective as of December 27, 2024, amends the Sixth Amended and Restated Credit Agreement dated as of October 18, 2018 to extend the maturity date from December 31, 2024 to January 31, 2025. As of September 30, 2024, there were no borrowings outstanding under the Credit Agreement and no borrowings had been incurred under the Credit Agreement during the nine months ended September 30, 2024. As of September 30, 2024 and December 31, 2023, the Company had $4.4 million outstanding in letters of credit which have been cash collateralized. The foregoing description of the Twentieth Amendment does not purport to be complete and is qualified in its entirety by reference to the Twentieth 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 Twentieth Amendment to the Sixth Amended and Restated Credit Agreement, dated as of December 27, 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). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 2, 2025 W&T OFFSHORE, INC. (Registrant) 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