W&T Offshore to pay down revolver with proceeds of Yellow Rose sale

By Wendy Van Sickle

Columbus, Ohio, Sept. 1 – W&T Offshore, Inc. will pay down its secured revolving credit facility with some proceeds from its sale of all of its interest in its Yellow Rose field in the Permian Basin, according to a press release.

Gross pre-tax proceeds from the transaction are expected to be about $376 million. The transaction is expected to close during the third quarter of 2015.

W&T Offshore is a Houston-based oil and natural gas producer.

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