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. Our previous estimates were $75/bbl and $2.50/Mcf. We have also lowered our 3Q23 NYMEX reference oil price to $75/bbl from $80/bbl. W&T typically receives a premium natural gas price realization compared to our reference price. We are reducing our realization to a $0.05/Mcf premium from $0.25/Mcf, reflecting 2Q23 market volatility. The 1Q23 premium was $0.47/Mcf... W&T is scheduled to release 2Q23 financial and operating results after the market close on Tuesday, August 1, 2023. Management will host a conference call on Wednesday, August 2, 2023, at 10:00 am ET. The conference call can be accessed by dialing (844) 739-3797 and referencing the ‘W&T Offshore, Inc. Conference Call”. The international dial in is (412) 317-5713.
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