HOUSTON, March 16 /PRNewswire-FirstCall/ -- W&T Offshore, Inc. (NYSE: WTI) today announces that it was the apparent high bidder on four Outer Continental Shelf (OCS) blocks in the Central Gulf of Mexico Lease Sale 198 held yesterday by the Minerals Management Service (MMS). Three of the blocks are in deepwater, (Green Canyon 73, Green Canyon 74 and Viosca Knoll 916) and one block is on the conventional shelf, (Viosca Knoll 520). W&T Offshore's investment on the apparent high bids will be approximately $4.9 million, which reflects a 100% working interest. High bids are subject to MMS review.
About W&T Offshore
Founded in 1983, W&T Offshore is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater, where it has developed significant technical expertise. W&T has grown through acquisition, exploitation and exploration and now holds working interests in over 100 fields in federal and state waters and a majority of its daily production is derived from wells it operates. For more information on W&T Offshore, please visit its Web site at http://www.wtoffshore.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market position and conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, prospects unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations and other factors discussed in our Annual Report on 10-K for the year ended December 31, 2004 (http://www.sec.gov)
Manuel Mondragon, Assistant VP of Finance
Ken Dennard / firstname.lastname@example.org
Lisa Elliott / email@example.com
DRG&E / 713-529-6600
SOURCE W&T Offshore, Inc.
CONTACT: Manuel Mondragon, Assistant VP of Finance of W&T Offshore,
+1-713-297-8024, firstname.lastname@example.org; or Ken Dennard,
email@example.com, or Lisa Elliott, firstname.lastname@example.org, both of DRG&E,
Web site: http://www.wtoffshore.com