W&T Offshore Inc, Company Intelligence Report



W&T Offshore Inc (W&T) is an independent energy company actively involved in the acquisition, exploitation, exploration and development of crude oil and natural gas resources in the US. The company’s E&P activities are concentrated in both offshore and onshore areas of the US. W&T’s offshore operations are primarily focused on the Gulf of Mexico (GoM), and the company held varying working interests in the GoM, as of the end of 2011. The company operated primarily within offshore areas since its inception, before entering into onshore areas through acquisitions in 2010. The company further expanded its presence in onshore areas with an acquisition in the Permian basin of West Texas in Q2 2011. Currently, W&T holds an average net total of 173,165 acres in onshore areas as of the end of 2011.
Scope
  • Key Highlights: This section provides detailed analysis on the company’s overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
  • Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
  • SWOT: The report’s SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
  • Production and Development Overview: This section highlights the company’s crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company’s producing and development assets.
  • Exploration: This section includes detailed explanation and analysis on the company’s exploration assets resulted due to new discoveries, new drilling and other activities.
  • M&A trends: This section mainly provides information and analysis on the company’s recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company’s status as a buyer or seller during the analyzed period.
  • Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
  • Peer Group Analysis: This section compares the company’s performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
  • Financial and Operational Metrics: This section covers the company’s historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
Reasons to buy
The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
  • Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Published : June 2012                No. of Pages : 105                 Price:US$1000
 Buy Now
Table of Contents

1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 6

2 W&T Offshore Inc, Company Overview 8
Source: GlobalData; Company Source 8

3 W&T Offshore Inc, Investment Summary 11
3.1 Blending Organic and Inorganic Growth to Improve its Operational Performance 11
3.1.1 Shifting Towards Onshore Assets to Offset Production Decline 11
3.1.2 Still Mapping Offshore Opportunities; Equipped with Experience and Expertise 11
3.2 Mahogany Field – Matured Asset; Nonetheless to Contribute to W&T’s Reserves and Production 12
3.2.1 Gulf of Mexico, Fiscal System 13

4 W&T Offshore Inc., SWOT Analysis 14
4.1 Strengths 14
4.1.1 Technical Expertise in Handling Offshore Projects 14
4.2 Weakness 14
4.2.1 Consistently Lowest Reserve Life Index during the Last Five Years 14
4.2.2 Relatively Lower Operational Matrix compared to Peer Group 15
4.3 Opportunities 16
4.3.1 High Potential to Increase Production through Inorganic Growth 16
4.3.2 Rising Deepwater E&P Activities 16
4.4 Threats 17
4.4.1 Higher Risk Associated with Deepwater Drilling Projects 17
4.4.2 Moving towards Onshore Projects May Increase Difficulties 17

5 W&T Offshore Inc., Goals and Strategies 18
5.1 Strategic Target; Growth Plan for 2012 18
5.1.1 Augment Reserves by 18% Over 2011 Reserve Base 18
5.1.2 Aims to Increase Production by at Least 5% Over 2011 Levels 18
5.1.3 Maximize Operating Margins to Enhance Shareholders’ Value 18

6 W&T Offshore Inc, Production Overview 19
6.1 Production Profile 19
6.2 Assets Portfolio 21
6.2.1 Offshore Assets 21
6.2.2 Onshore Assets 22

7 W&T Offshore Inc, Exploration and Development Overview 23

8 W&T Offshore Inc, Capital Expenditure 26
8.1 Costs Incurred 28

9 W&T Offshore Inc, Acreage 30

10 W&T Offshore Inc, M&A Highlights 32

11 W&T Offshore Inc, Forecast Production and Financial Statements 33
11.1 Income Statement (2009–2016) 35
11.2 Balance Sheet (2009–2016) 36
11.3 Cash Flow Statement (2009–2016) 37
11.4 Financial Ratios 38

12 W&T Offshore Inc, Valuation 41
12.1 Net Asset Value 41

13 W&T Offshore Inc, Peer Comparision 44
13.1 Share Price Performance 44
13.2 Operational and Financial Performance 44
13.3 Key Financial and Operational Ratio 47

14 W&T Offshore, Inc., Detailed Operational and Financial Metrics 49
14.1 W&T Offshore, Inc., Total Oil and Gas, Reserves and Production 49
14.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011 49
14.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011 51
14.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 53
14.2 W&T Offshore, Inc., Crude Oil/Liquids Production and Reserve 54
14.2.1 Crude Oil/Liquids Production and Reserve Trend, 2007-2011 54
14.2.2 Crude Oil Production and Reserves By Country/Region, 2007-2011 55
14.2.3 Crude Oil/Liquids Reserve Changes, 2007-2011 57
14.3 W&T Offshore, Inc., Natural Gas Production and Reserve 58
14.3.1 Natural Gas Production and Reserve Trend, 2007-2011 58
14.3.2 Natural Gas Production and Reserves, By Country/Region, 2007-2011 59
14.3.3 Natural Gas Reserve Changes, 2007-2011 61
14.4 W&T Offshore, Inc., Total Crude Oil and Natural Gas Reserves Life Index 62
14.4.1 Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011 62
14.4.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011 63
14.5 W&T Offshore, Inc., E&P Costs Trends 65
14.5.1 Upstream Capital Expenditure, 2007-2011 65
14.5.2 Acquisition Costs By Country/Region, 2007-2011 66
14.5.3 Exploration and Development Costs, By Country/Region, 2007-2011 68
14.6 W&T Offshore, Inc., Oil and Gas Cost Per boe, $/boe 70
14.6.1 Oil and Gas Cost Per boe, $/boe, 2007-2011 70
14.6.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011 72
14.7 W&T Offshore, Inc., Reserve Replacement Ratio 75
14.7.1 Oil and Gas Production Replacement Ratio, 2007-2011 75
14.7.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011 77
14.8 W&T Offshore, Inc., Results of Oil & Gas Operations Trend 81
14.8.1 Oil and Gas Revenue and Expenses, 2007-2011 81
14.8.2 Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011 82
14.9 W&T Offshore, Inc., Oil and Gas Revenue and Expenses, Per boe 87
14.9.1 Oil and Gas Revenue and Expenses, By boe, 2007-2011 87
14.9.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011 88
14.10 W&T Offshore, Inc., Oil and Gas Performance Metrics 92
14.11 W&T Offshore, Inc., Land Holdings and Well Data 93
14.11.1 Gross and Net Developed and Undeveloped Acreage, 2007-2011 93
14.11.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2007-2011 94
14.12 W&T Offshore, Inc., Well Statistics 97
14.12.1 Producible Oil and Gas Well, 2007-2011 97
14.12.2 Producible Oil and Gas Well, By Country/Region, 2007-2011 98
14.12.3 Exploration and Development Wells Drilled, 2007-2011 102
14.12.4 Exploration and Development Wells Drilled, By Country/Region, 2007-2011 103

15 Appendix 104
15.1 Abbreviations 104
15.2 Methodology 104
15.2.1 Coverage 104
15.2.2 Secondary Research 105
15.2.3 Primary Research 105
15.3 Contact Us 105
15.4 Disclaimer 105

List of Tables

List of Figures

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