Quarterly ResultMay 7, 2026, 04:32 PM
W&T Offshore Q1 Adjusted EBITDA +137% to $54.5M; Declares Dividend
AI Summary
W&T Offshore reported strong operational and financial results for Q1 2026, with Adjusted EBITDA increasing 137% to $54.5 million and Free Cash Flow reaching $21.0 million. The company produced 36.2 MBoe/d, at the high end of guidance, and significantly reduced lease operating expenses. Despite a GAAP net loss of $(22.5) million, Adjusted Net Loss was near breakeven at $(0.7) million, and the company declared a Q2 2026 dividend of $0.01 per share.
Key Highlights
- Adjusted EBITDA increased 137% to $54.5 million compared to Q4 2025.
- Generated $21.0 million in Free Cash Flow, a significant improvement from $(11.2) million in Q4 2025.
- Produced 36.2 MBoe/d (53% liquids), towards the high end of guidance and up 19% YoY.
- Reduced lease operating expenses (LOE) to $66.1 million, 22% lower per Boe YoY.
- Reported a net loss of $(22.5) million, or $(0.15) per diluted share.
- Declared a Q2 2026 dividend of $0.01 per share, payable May 28, 2026.
- Unrestricted cash and cash equivalents were $130.9 million at March 31, 2026.
- Full year 2026 capital expenditure guidance remains $19.5 million to $24.5 million.