Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Equity Bottom-Up

<div><div><div><div><ul style="list-style-type: disc;"><li><p>We are updating our 2Q23 commodity prices and realizations.</p></li><li><p>Our NYMEX reference prices averaged $73.78/barrel of oil and $2.32/MMBtu for natural gas.</p></li><li><p>Our previous estimates were $75/bbl and $2.50/Mcf.</p></li></ul></div></div></div></div>

We are updating our 2Q23 commodity prices and realizations.Our NYMEX reference prices averaged $73.78/barrel of oil and $2.32/MMBtu for natural gas.Our previous estimates were $75/bbl and $2.50/Mcf.

W&T Offshore, Inc. - Adjusting Realized 2Q23 Commodity Price Estimates

<ul><li>W&amp;T Offshore is an independent oil and natural gas exploration and production company focused on extracting value from producing assets in the US Gulf of Mexico.</li><li>The company has plied the Gulf since its founding 40 years ago.</li><li>High-quality reservoir rock properties and the tendency for reservoirs in the Gulf of Mexico to outperform original reserve estimates are key drivers of management’s affinity for the basin. Proved reserves (1P) often expose the company to embedded optionality in probable and possible reserves that can be captured over time through well performance with modest incremental capital investment.</li></ul>

W&amp;T Offshore is an independent oil and natural gas exploration and production company focused on extracting value from producing assets in the US Gulf of Mexico.The company has plied the Gulf since its founding 40 years ago.High-quality reservoir rock properties and the tendency for reservoirs in the Gulf of Mexico to outperform original reserve estimates are key drivers of management’s affinity for the basin. Proved reserves (1P) often expose the company to embedded optionality in probable and possible reserves that can be captured over time through well performance with modest incremental capital investment.

W&T Offshore, Inc - Initiating Coverage: Cash Provides Flexibility

United States

W&T Offshore, Inc. is an independent oil and natural gas company focused primarily on the Gulf of Mexico area in the United States.

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W&T Offshore (WTI US)

W&T Offshore, Inc. - Adjusting Realized 2Q23 Commodity Price Estimates

We are updating our 2Q23 commodity prices and realizations. Our NYMEX reference prices averaged $73.78/barrel of oil and $2.32/MMBtu for natural gas.

Water Tower Research

W&T Offshore, Inc - Initiating Coverage: Cash Provides Flexibility

W&T Offshore is an independent oil and natural gas exploration and production company focused on extracting value from producing assets in the US...

Water Tower Research

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