March 12, 2018 / 9:54 PM / 2 months ago

BRIEF-W&T Offshore Announces Gulf Of Mexico Joint Exploration And Development Program With Investor Group

March 12 (Reuters) - W&T Offshore Inc:

* W&T OFFSHORE ANNOUNCES GULF OF MEXICO JOINT EXPLORATION AND DEVELOPMENT PROGRAM WITH INVESTOR GROUP

* W&T OFFSHORE - ‍ANTICIPATED PROJECT LEVEL COMMITMENT FOR DRILLING PROGRAM OF UP TO $419.6 MILLION​

* W&T OFFSHORE-RECEIVES INITIAL CASH REIMBURSEMENT OF ABOUT $20 MILLION FOR COSTS ALREADY INCURRED IN RELATION TO DRILLING OF SOME WELLS INCLUDED IN PROGRAM​

* W&T OFFSHORE INC - ‍W&T INITIALLY RECEIVES 30.0% OF NET REVENUES FROM DRILLING PROGRAM WELLS​

* W&T OFFSHORE INC - ‍UPON INVESTOR GROUP ACHIEVING CERTAIN RETURN THRESHOLDS, W&T’S SHARE OF WELL NET REVENUE INCREASES TO 38.4%​ Source text for Eikon: Further company coverage: (Reuters.Brief@thomsonreuters.com)

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