W&T Offshore (WTI) Investor presentation summary

Company background and leadership

• Over 40 years of experience in the Gulf of America, with a focus on acquisitions and operational expertise.

• Listed on the NYSE since 2005, with headquarters in Houston, TX.

• Management team includes founder Tracy Krohn and experienced executives in finance, operations, technical, and legal roles.

• High shareholder alignment and strong health, safety, and compliance standards.

Strategic strengths and operational focus

• Operates 49 offshore fields across 625,000 gross acres, with 96% of net acreage held by production.

• Maintains a balanced liquids-gas production mix and robust infrastructure for cost efficiency.

• Focuses on low-risk workovers, recompletions, and selective greenfield drilling to boost production.

• Leverages advanced seismic and geoscience tools for successful drilling and asset optimization.

Financial performance and capital structure

• Achieved Q4 2025 net production of 36.2 MBoe/d and year-end 2P reserves of 242.2 MMBoe.

• Market cap of $394.3M, enterprise value of $604.5M, and net debt of $210.3M as of Q4 2025.

• Over $1B in net debt reduction since 2014, with current liquidity of ~$184M.

• Adjusted EBITDA for 2025 was $129.6M, with free cash flow funding debt reduction and acquisitions.