W&T Offshore Says Production In Q2 2024 Will Be Negatively Impacted By Planned Maintenance Which Required Shut-Ins Of Select Fields And Is Reflected In Q2 Guidance
Production, Prices and Revenue: Production for the first quarter of 2024 was 35.1 MBoe/d compared with 34.1 MBoe/d for the fourth quarter of 2023 and 32.5 MBoe/d for the corresponding period in 2023. The increase in production compared to the fourth quarter of 2023 was primarily driven by the inclusion of the Cox acquisition, which closed in January 2024 and was partially offset by natural decline. First quarter 2024 production was comprised of 15.4 thousand barrels per day ("MBbl/d") of oil (44%), 3.8 MBbl/d of natural gas liquids ("NGLs") (11%), and 96.0 million cubic feet per day ("MMcf/d") of natural gas (45%). Production in the second quarter of 2024 will be negatively impacted by planned maintenance which required shut-ins of select fields and is reflected in second quarter guidance.
Second Quarter and Full Year 2024 Production and Expense Guidance
The guidance for the second quarter and full year 2024 in the table below represents the Company's current expectations. Please refer to the section entitled "Forward-Looking and Cautionary Statements" below for risk factors that could impact guidance.
Production
Second Quarter 2024
Full Year 2024
Oil (MBbl)
1,225 – 1,400
5,100 – 5,800
NGLs (MBbl)
280 – 315
1,150 – 1,375
Natural gas (MMcf)
8,800 – 10,060
37,000 – 44,500
Total equivalents (MBoe)
2,972 – 3,392
12,417 – 14,592
Average daily equivalents (MBoe/d)
32.7 – 37.3
33.9 – 39.9
Expenses
Second Quarter 2024
Full Year 2024
Lease operating expense ($MM)
83.0 – 92.0
295.0 – 332.0
Gathering, transportation & production taxes ($MM)
8.1 – 8.9
34.5 – 39.0
General & administrative – cash ($MM)
13.7 – 15.1
59.0 – 66.5
General & administrative – non-cash ($MM)
2.9 – 3.3
12.5 – 14.0
DD&A ($ per Boe)
11.4 – 12.9
W&T expects substantially all taxes in 2024 to be deferred.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。