Oil and gas producer W&T Offshore's Q2 revenue rises more than expected on higher prices

W&T Offshore

05/08/2026 21:56

Overview
U.S. oil and gas producer's Q2 revenue rose 33% yr/yr, beating analyst expectations
Net income turned positive from a loss a year earlier
Company declared a $0.01 per share quarterly dividend

Outlook
W&T Offshore expects Q3 production of 3.06–3.39 mln Boe, daily average 33.3–36.8 MBoe/d
Company sees Q3 lease operating expenses at $73 mln–$81 mln
Full-year 2026 capital expenditures expected at $19.5 mln–$24.5 mln, plugging and abandonment at $34 mln–$42.4 mln

Result Drivers
HIGHER REALIZED PRICES - Co said average realized price per BOE rose 11% from Q1, supporting revenue growth
COST CONTROL - Lease operating expenses were below the low end of guidance due to timing of facility and workover expense projects, with some costs deferred to Q3
PRODUCTION GAINS - Production volumes increased 3% yr/yr and were at the midpoint of guidance, aided by workover and recompletion projects

Company press release: ID:nGNX88k8D8

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$162.62 mln
$157.46 mln (5 Analysts)
Q2 Net Income
 
$12.56 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for W&T Offshore, Inc. is $4.83, about 41.1% above its August 4 closing price of $3.42

Reuters Recommended Reads
Aug 5 - Magnolia Oil & Gas Q2 net income more than doubles on higher prices, production
Aug 4 - Talos Energy Q2 revenue, adjusted net income beat estimates amid optimization initiatives
Aug 3 - War-fueled oil rally set to lift shale profits to highest since 2022

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)