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W&T Offshore Provides Operational Update and Drilling Successes

HOUSTON, Oct. 17 /PRNewswire-FirstCall/ -- W&T Offshore, Inc. (NYSE: WTI) today announced it is currently producing approximately 96 million cubic feet of gas equivalent (MMcfe) net per day, which represents 51% of the Company's pre-Hurricane Rita and 39% pre-Hurricane Katrina production. The Company also reports that it has been successful with its exploration and development drilling program that includes eight successful wells out of nine wells drilled since the end of the second quarter, six of which were drilled since Hurricane Katrina.

The Company's production is back online in part due to the repairs and availability of third party infrastructure, and processing plant repairs, some of which occurred earlier than anticipated. W&T expects additional production to return online over the next several weeks, as further field repairs are completed and third party processing plants and pipelines are brought back online. The Company still estimates that approximately 55 MMcfe per day of its net production is shut-in because of Hurricane Katrina. W&T's pre-Hurricane Katrina and Rita volumes were approximately 245 MMcfe net per day. Based on estimates for deferred production due to the hurricanes, W&T expects third quarter net production to range between 16.3 and 18.0 billion cubic feet of gas equivalent (Bcfe), or between 179 and 197 MMcfe per day.

Tracy W. Krohn, Chairman and Chief Executive Officer, stated, "The outstanding coordinated efforts between W&T personnel and our various service providers demonstrates what empowered employees can achieve when given a difficult task. Among other activities resulting in increased production, the team coordinated the rerouting of products around a temporarily shut-down processing facility south of Lafayette, Louisiana, to an alternative facility, thereby facilitating the resumption of approximately 40 MMcfe of net daily production. We are focused on developing additional solutions that will further enhance our ability to produce volumes shut-in by the recent storms."

    W&T also continues to have success with its exploration and development
program.  Since the end of the second quarter, the Company successfully
drilled four exploration wells and four development wells, with one
unsuccessful development well.  This includes five successful wells since
Hurricane Katrina.

     Field Name/Well            Category         Working Interest %

     Ewing Bank 989            Exploration            100.0%
     Main Pass 185             Exploration             33.3%
     High Island A443 A-5ST    Exploration             92.0%

     Drilled since Katrina

     High Island A443 A-2ST    Exploration             84.0%
     Ship Shoal 177 A-4ST      Development             75.0%
     Ship Shoal 359 A-12       Development             59.0%
     Eugene Island 349 B-13ST  Development             29.0%
     Eugene Island 107 A-3     Development             25.0%

    One development well was unsuccessful, as follows:

     Field Name/Well            Category         Working Interest %

     Drilled since Katrina

     High Island A572 C-23ST   Development              4.0%

"For 2005, we have successfully drilled 14 out of 17 exploration wells and five out of six development wells," continued Mr. Krohn. "Our previously announced drilling program of a total of 30 exploration and 7 development wells remains on track for 2005."

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 deep water, 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

Forward-Looking Statements

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 conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, 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 (

Manuel Mondragon, Assistant VP of Finance

Ken Dennard /
Lisa Elliott /
DRG&E / 713-529-6600

SOURCE W&T Offshore, Inc.

4452 10/17/2005 06:00 EDT