W&T Offshore extends maturity of credit agreement by one month

By Marisa Wong

Los Angeles, March 28 – W&T Offshore, Inc. entered into a 16th amendment on Thursday to its sixth amended and restated credit agreement dated Oct. 18, 2018 with Alter Domus (US) LLC as administrative agent to extend the maturity date to April 30, 2024 from March 28, 2024, according to an 8-K filing with the Securities and Exchange Commission.

As of Dec. 31, there were no borrowings outstanding under the credit agreement, and no borrowings had been incurred during the year ended Dec. 31. As of year-end, the company had $4.4 million letters of credit outstanding, which have been cash collateralized.

W&T Offshore is an independent oil and natural gas producer based in Houston.

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