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W&T Details Latest in GoM, Permian Ops; 2015 Capital Budget
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W&T Offshore, Inc. reported its year-end 2014 proved reserves, fourth quarter and full year 2014 operations and financial results, 2015 capital budget and drilling plans, and 2015 production and expense guidance.
Some of the highlights include: Our proved reserves at year-end 2014 were 120 million barrels of oil equivalent ("Boe") with a PV-10 value of $2.6 billion, excluding the effect of estimated asset retirement obligations. Both the amount and value of our proved reserves have increased over the prior year even with our continued focus on longer-term projects. Extensions and discoveries of proved reserves for 2014 were 9.7 million Boe, or 58.1 billion cubic feet of natural gas equivalent ("Bcfe"), primarily associated with our Dantzler and Yellow Rose projects. Achieved a 100%…- ✓ Full news archive — U.S., Canada & international coverage
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