SEC Filings


10-Q
W&T OFFSHORE INC filed this Form 10-Q on 05/04/2017
Entire Document
 

W&T OFFSHORE, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Unaudited)

 

Condensed Consolidating Statement of Operations for the Three Months Ended March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

Parent

 

 

Guarantor

 

 

 

 

 

 

W&T

 

 

Company

 

 

Subsidiaries

 

 

Eliminations

 

 

Offshore, Inc.

 

 

(In thousands)

 

Revenues

$

53,707

 

 

$

70,686

 

 

$

 

 

$

124,393

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease operating expenses

 

23,702

 

 

 

16,462

 

 

 

 

 

 

40,164

 

Production taxes

 

515

 

 

 

 

 

 

 

 

 

515

 

Gathering and transportation

 

2,566

 

 

 

3,643

 

 

 

 

 

 

6,209

 

Depreciation, depletion, amortization and accretion

 

19,154

 

 

 

20,105

 

 

 

731

 

 

 

39,990

 

General and administrative expenses

 

5,776

 

 

 

7,498

 

 

 

 

 

 

13,274

 

Derivative gain

 

(3,955

)

 

 

 

 

 

 

 

 

(3,955

)

Total costs and expenses

 

47,758

 

 

 

47,708

 

 

 

731

 

 

 

96,197

 

Operating income

 

5,949

 

 

 

22,978

 

 

 

(731

)

 

 

28,196

 

Earnings of affiliates

 

17,527

 

 

 

 

 

 

(17,527

)

 

 

 

Interest expense incurred

 

11,294

 

 

 

 

 

 

 

 

 

11,294

 

Other expense, net

 

191

 

 

 

 

 

 

 

 

 

191

 

Income before income tax benefit

 

11,991

 

 

 

22,978

 

 

 

(18,258

)

 

 

16,711

 

Income tax benefit

 

(13,039

)

 

 

5,451

 

 

 

 

 

 

(7,588

)

Net income

$

25,030

 

 

$

17,527

 

 

$

(18,258

)

 

$

24,299

 

 

 


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