W&T Offshore Divests Interest in West Delta 29 Block (USA)

W&T Offshore, Inc.  today announces that it has sold all of its working interest in West Delta 29 block (OCS 00385) located on the shelf of the Gulf of Mexico to EPL Oil & Gas, Inc. for $21.8 million with an effective date of January 1, 2013, subject to post-Effective Date adjustments.

Tracy W. Krohn, Chairman and Chief Executive Officer, stated,“The sale of this non-core, non-operated property, allows us to accelerate cash flow from the underlying asset. As we have discussed throughout the year, our intent is to continually high-grade our assets and focus on the projects we feel have the greatest potential to create shareholder value.”

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and onshore in both the Permian Basin of West Texas and in East Texas.

[mappress]
Press Release, September 27, 2013