W&T Offshore's Mature Assets Dry up

Thursday, March 03, 2011

According to a March 2 report from Reuters, Gulf of Mexico-focused oil and natural gas company W&T Offshore Inc. forecast weak production in 2011 as most of its properties have reached a saturation point, sending its shares down 14 percent to a two-week low. W&T, which agreed to buy some assets from a Royal Dutch Shell unit in November, sees the share of natural gas in total production to go up to 60 percent from 51 percent last year.

(Source: Reuters)

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