U.S. crude oil production from onshore federal lands reached a record 1.7 million barrels per day (bpd) in 2024, driven by increased activity in New Mexico's Permian Basin. This marks a sixfold increase since 2008, outpacing the national crude output growth of nearly triple. Federal offshore oil production remained stagnant at 1.8 million bpd, while natural gas production from onshore federal lands rose to 4.2 trillion cubic feet (Tcf) in 2024, reversing a long-term decline. Federal offshore gas production declined sharply to 0.8 Tcf, less than one-third of its 2005 level.

Bank of America Corp DE increased its stake in W&T Offshore, Inc. (NYSE:WTI) by 137.4% in Q4, owning 246,893 shares (0.17% of the company). Other institutional investors, including Ameriprise Financial and Aristeia Capital, also adjusted their positions. W&T Offshore reported Q1 earnings of -$0.13 EPS, a negative net margin of 11.95%, and a $0.01 quarterly dividend. Wall Street Zen downgraded the stock to a 'sell' rating.

W&T Offshore, Inc. remains resilient amid mixed Q1 2025 results, with natural gas as a core growth driver and a robust balance sheet supporting operational stability. Despite weak oil prices, prudent management and rebounding natural gas prices position WTI for continued improvement. Valuation remains attractive, with the stock trading well below historical averages and offering significant upside potential. Technicals indicate a bullish breakout tendency, and the author reiterates a strong buy rating.

The U.S. Gulf of Mexico's offshore oil production is projected to rise from 1.8 million barrels per day (bpd) to 2.4 million bpd by 2027, according to the U.S. Energy Information Administration (EIA) and Bureau of Ocean Energy Management (BOEM). The Gulf holds 29.59 billion barrels of oil and 54.84 trillion cubic feet of gas in technically recoverable reserves. Factors driving growth include streamlined permitting under potential Trump administration policies, technological advancements, and increased offshore drilling. However, onshore production faces challenges like declining rig counts and low oil prices, while global market dynamics, including OPEC+ production decisions, may impact U.S. supply.

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.