W&T Offshore Eyeing US Onshore Assets, But Not Abandoning Gulf

摘要

Gulf of Mexico-focused W&T Offshore has never been shy about its taste for acquisitions, as the numerous deals that have peppered the company's 27-year history can attest. But 2011 is likely to see a different kind of acquisition — one located in the US onshore. Despite its name, W&T is not solely an offshore company, although the firm's onshore record remains sparse. In fact, W&T's acreage position is small enough to not be disclosed in any of the company's SEC filings to date. Most recently, though, the company brought one onshore well in southern Louisiana on line, and participated in two non-operated wells in Texas and Louisiana that proved noncommercial. W&T is also currently drilling two South Texas wells.