W&T Offshore, Inc. Enters Sixteenth Amendment to the Sixth Amended and Restated Credit Agreement
March 28, 2024 at 04:09 pm EDT
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W&T Offshore, Inc. announced on March 28, 2024, W&T Offshore, Inc. entered into a sixteenth amendment to the sixth amended and restated credit agreement (the Sixteenth Amendment) dated as of March 28, 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 Sixteenth Amendment, which became effective as of March 28, 2024, amends the Sixth Amended and Restated Credit Agreement dated as of October 18, 2018 to extend the maturity date from March 28, 2024 to April 30, 2024.
W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. It has a working interest in over 53 offshore producing fields in federal and state waters (which include 44 fields in federal waters and nine in state waters). The Company has under lease approximately 597,100 gross acres (440,000 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 435,600 gross acres on the conventional shelf, approximately 153,500 gross acres in the deepwater and 8,000 gross acres in Alabama onshore. The Company's wholly owned subsidiaries consists of Aquasition Energy, LLC, Aquasition, LLC, Aquasition II, LLC, Aquasition III, LLC, Aquasition IV, LLC, Aquasition V, LLC, Green Hell, LLC, Seaquester, LLC, Seaquestration, LLC, and W & T Energy VI, LLC.