Founded in 1983, W&T is an independent oil and natural gas acquisition, exploitation and exploration company, with a focus primarily in the Gulf of Mexico. Our outstanding technical expertise combined with the high production rates associated with hydrocarbon deposits in the Gulf have historically provided us excellent opportunities to achieve a rapid payback on our invested capital.
We own working interests in 60 fields in federal and state waters and have interests in leases covering approximately 1.0 million gross acres. We also own working interests in approximately 40,900 gross acres in the Permian Basin in West Texas, where we have drilled vertical and horizontal wells that hold approximately 90% of this acreage by production.
W&T became a public company in 2005 and trades on the NYSE under the symbol "WTI”.