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, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

Parent

 

 

Guarantor

 

 

 

 

 

 

W&T

 

 

Company

 

 

Subsidiaries

 

 

Eliminations

 

 

Offshore, Inc.

 

 

(In thousands)

 

Revenues

$

30,512

 

 

$

47,203

 

 

$

 

 

$

77,715

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease operating expenses

 

24,945

 

 

 

19,524

 

 

 

 

 

 

44,469

 

Production taxes

 

526

 

 

 

 

 

 

 

 

 

526

 

Gathering and transportation

 

1,553

 

 

 

3,539

 

 

 

 

 

 

5,092

 

Depreciation, depletion, amortization and accretion

 

20,623

 

 

 

38,161

 

 

 

4,949

 

 

 

63,733

 

Ceiling test write-down of oil and natural gas

   properties

 

 

 

 

50,384

 

 

 

66,175

 

 

 

116,559

 

General and administrative expenses

 

6,613

 

 

 

9,830

 

 

 

 

 

 

16,443

 

Derivative gain

 

(2,493

)

 

 

 

 

 

 

 

 

(2,493

)

Total costs and expenses

 

51,767

 

 

 

121,438

 

 

 

71,124

 

 

 

244,329

 

Operating loss

 

(21,255

)

 

 

(74,235

)

 

 

(71,124

)

 

 

(166,614

)

Loss of affiliates

 

(73,029

)

 

 

 

 

 

73,029

 

 

 

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Incurred

 

27,695

 

 

 

119

 

 

 

 

 

 

27,814

 

Capitalized

 

(224

)

 

 

(119

)

 

 

 

 

 

(343

)

Other expense, net

 

1,306

 

 

 

 

 

 

 

 

 

1,306

 

Loss before income tax benefit

 

(123,061

)

 

 

(74,235

)

 

 

1,905

 

 

 

(195,391

)

Income tax benefit

 

(3,676

)

 

 

(1,206

)

 

 

 

 

 

(4,882

)

Net loss

$

(119,385

)

 

$

(73,029

)

 

$

1,905

 

 

$

(190,509

)

 


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