One-Page Deal Sheet
W&T Offshore Sells Non-Core Assets in Gulf of Mexico
Energy Partners Ltd. W&T Offshore Inc.
Announced Date
May 15,2012
Effective Date
April 01,2012
Close Date
May 15,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
32
Transaction Details: Subscribe to see
W&T Offshore, Inc. (NYSE: WTI) today announces that it has sold its 40%, non-operated, working interest in South Timbalier 41 field located on the shelf of the Gulf of Mexico for $32.375 million, with an effective date of April 1, 2012 to Energy Partners, Ltd. The sale of this non-core asset does not alter our previously issued production or expense guidance.
Tracy W. Krohn, Chairman and Chief Executive Officer, stated, "Through the divestiture of this non-core, non-operated property, we continue to enhance our already strong liquidity. We believe that the sales price makes this an attractive…
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