W&T Offshore, Inc. reported first quarter 2025 results with production at the high end of guidance, generating $10.5 million in Free Cash Flow and $32.2 million in Adjusted EBITDA. The company successfully refinanced debt, reducing gross debt by approximately $39.0 million and enhancing liquidity, while also bringing new fields into production.

W&T Offshore posted a net loss of $23.4 million for Q4 2024. Revenue declined 9% YoY to $120.3 million, driven by lower realized prices and reduced production. Adjusted EBITDA was $31.6 million. Cash and cash equivalents totaled $109.0 million, and the company reported free cash flow of $44.9 million for the full year. Lease operating expenses were $64.3 million, coming in below guidance.

W&T Offshore reported a net loss of $36.9 million for the third quarter of 2024, with production at 31.0 MBoe/d. The company generated $121.4 million in revenue and $3.9 million in Free Cash Flow, marking the 27th consecutive quarter of positive Free Cash Flow. They declared a fourth quarter dividend of $0.01 per share and reduced the full year capital expenditure budget.