Benzinga | Mar 3, 2021 05:18PM EST

Recap: W&T Offshore Q4 Earnings

Shares of W&T Offshore (NYSE:WTI) rose in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share fell 129.41% year over year to ($0.05), which beat the estimate of ($0.31).

Revenue of $94,748,000 declined by 37.62% from the same period last year, which beat the estimate of $81,300,000.

Guidance

W&T Offshore hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Technicals

Company's 52-week high was at $3.97

52-week low: $1.07

Price action over last quarter: Up 145.39%

Company Description

W&T Offshore Inc is an oil and gas exploration and production company. The company's exploration operations are focused in the Gulf of Mexico, where it drills for oil and gas. The company engages in both deepwater drilling and shallow-water shelf drilling. W&T Offshore extracts crude oil, natural gas, and natural gas liquids, which are then sold directly at the wellhead. Overall, crude oil accounts for the majority of the company's revenue, with natural gas accounting for a much smaller portion.