W&T Offshore Announces Discovery at Big Bend Exploration Prospect

W&T Offshore, Inc. (NYSE: WTI) today announced a discovery at the Big Bend exploration prospect in the deepwater Gulf of Mexico.  The well is located on Mississippi Canyon Block 698 in 7,200 feet of water and was drilled to a total depth of 15,989 feet.  Open-hole logging identified approximately 150 feet of net oil pay in two high-quality Miocene reservoirs.  W&T Offshore holds a 20% working interest in this well, which is operated by Noble Energy, Inc. (NYSE: NBL).Tracy W. Krohn, W&T Offshore's Chairman and Chief Executive Officer, stated, "This well is an excellent oil discovery that should provide a very attractive economic return on investment.  It represents the type of deepwater Gulf of Mexico project that we have increased our exposure to over the last few years.  The logging and pressure/volume/temperature data has confirmed Big Bend's superb reservoir properties and fluid characteristics that are indicative of many of the reservoirs in the deepwater Gulf of Mexico." Offshore Update:At our Mahogany field, Ship Shoal 349, we recently recompleted the SS 349 A2 well to a new pay zone which had not previously produced in the field.  In November, the completion achieved an initial production rate of See full press release