HOUSTON, Feb. 24, 2012 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) announced today that its Board of Directors doubled the regular cash quarterly dividend from $0.04 per share to $0.08 per share, payable to the holders of the Corporation's common shares. The dividend will be payable on March 30, 2012, to the shareholders of record on March 14, 2012.
Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are pleased to be able to double our regular quarterly dividend and reward our shareholders for their ongoing support. This action reflects our continued confidence in W&T Offshore's ability to continue to generate strong cash flow."
About W&T Offshore
W&T Offshore, Inc. is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater and deep shelf regions, where we have developed significant technical expertise. We recently diversified our operations by expanding onshore into the Permian Basin and into East Texas. We have grown through acquisitions, exploitation and exploration, hold working interests in approximately 60 producing or capable of producing offshore fields in federal and state waters, and have approximately 173,000 net acres under lease onshore. A substantial majority of our daily production is derived from wells we operate offshore. For more information on W&T Offshore, please visit our website at www.wtoffshore.com.
Janet Yang or Mark Brewer
SVP & CFO
SOURCE W&T Offshore, Inc.