W&T Offshore outlines Q4 production target and raises 2026 capital budget
W&T Offshore said its fourth‑quarter 2026 production is expected to center around 33,700 barrels of oil equivalent per day. The company also lifted its 2026 capital‑expenditure plan to a range of $35 million‑$38 million, mainly for recompletions and workovers. In the third quarter, production beat the high end of guidance thanks to strong output from the Mobile Bay gas field, generating $89 million of free cash flow and prompting a $15 million equity raise. The firm warned that surety‑related litigation costs are likely to rise in 2027.
Why it matters
The higher capex and production guidance suggest continued cash‑flow generation, but the anticipated increase in litigation expenses could pressure earnings in 2027 (the company expects the cost to rise).
Key facts
- 1Q4 2026 production midpoint is forecast at 33,700 BOE/d. seekingalpha.com
- 22026 capital budget is raised to $35 million‑$38 million. seekingalpha.com
- 3Q3 2026 production outperformed the high end of guidance, driven by the Mobile Bay gas field. finance.yahoo.com
- 4Free cash flow for the first nine months of 2026 was $89 million. finance.yahoo.com
- 5Cash on hand exceeded $190 million and net debt fell to $160 million. finance.yahoo.com
- 6The company issued 3.6 million shares for $15 million net proceeds under its at‑the‑market program. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.