W&amp;T Offshore Inc. WTI reported a first-quarter 2025 loss of 13 cents per share (excluding one item), narrower than the Zacks Consensus Estimate of a loss of 14 cents. However, the bottom line deteriorated from the year-ago quarter’s reported loss of 5 cents per share. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)\n\nTotal quarterly revenues of $129.9 million beat the Zacks Consensus Estimate of $125 million. However, the top line decreased from $141 million reported in the prior-year quarter.\n\nThe better-than-expected quarterly results can be primarily attributed to higher realized price for oil-equivalent output. However, higher operating expenses and lower production volumes partially offset this.\n\nProduction for the quarter averaged 30.5 thousand barrels of oil equivalent per day (MBoe/d), down from 35.1 MBoe/d in the corresponding period of 2024. The reported figure came in line with our estimate. The production was affected due to freezing conditions that caused shutdowns during January 2025.\n\nOil production totaled 1,230 thousand barrels (MBbls), down from 1,400 MBbls in the year-ago quarter. The figure missed our estimate of 1,236 MBbls.\n\nNatural gas liquids output totaled 200 MBbls, which decreased from the year-ago quarter’s level of 343 MBbls. Our estimate for the same was pinned at 224 MBbls.\n\nNatural gas production of 7,884 million cubic feet (MMcf) was lower than 8,733 MMcf in the prior-year quarter. The figure was higher than our estimate of 7,734 MMcf.\n\nThe average realized price for oil in the first quarter was $71.31 per barrel, lower than the year-ago quarter’s level of $76.44. Our estimate for the same was pegged at $69.03.\n\nThe average realized price of NGL increased to $23.86 per barrel from $21.78 reported a year ago. The figure came in higher than our estimate of $20.46 per barrel.\n\nThe average realized price of natural gas in the March-end quarter was $4.45 per thousand cubic feet, up from $2.48 in the corresponding period of 2024 and above our estimate of $4.34.\n\nThe average realized price for oil-equivalent output increased to $46.50 per barrel from $42.55 a year ago. The figure was above our estimate of $44.91 per barrel.\n\nLease operating expenses increased to $25.88 per Boe from $22.14 in the year-ago period. The reported figure was lower than our estimate of $26.40 per Boe.\n\nAlso, general and administrative expenses increased to $7.35 per Boe from $6.41 a year ago. The figure was higher than our estimate of $7.22 per Boe.\n\nNet cash used in operations totaled $3.2 million against $11.6 million net cash provided by operations in the prior-year quarter.\n\nThe free cash flow decreased to $10.5 million from $32.4 million in the year-earlier quarter.\n\nW&amp;T Offshore spent $8.5 million on oil and gas resources and equipment.\n\nAs of March 31, 2025, cash and cash equivalents totaled $105.9 million, and net long-term debt amounted to $349.5 million. The current portion of the long-term debt is $0.6 million.\n\nFor the second quarter of 2025, W&amp;T Offshore expects production to be in the range of 2,977-3,295 Mboe. For 2025, production is anticipated to remain unchanged in the band of 11,983-13,257 Mboe.\n\nFurther, the company expects second-quarter lease operating expenses to be in the $71.3-$78.9 million range. For full-year 2025, lease operating expenses are anticipated to be in the $280-$310 million band.\n\nFull-year capital expenditures are expected to be in the range of $34-$42 million.

W&T Offshore Q1 Loss Narrower Than Expected, Revenues Decline Y/Y

W&T Offshore Inc. reported a first-quarter 2025 loss of 13 cents per share, narrower than the Zacks Consensus Estimate of 14 cents, but year-over-year revenue declined. Production volumes fell due to freezing conditions, while oil and natural gas prices increased. The company outlined expectations for second-quarter and full-year 2025 production and expenses.