W&T Offshore Declares Special Cash Dividend On Common Stock

HOUSTON, Dec. 11, 2013 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) announced today that its Board of Directors declared a special cash dividend of $0.42 per share, payable to the holders of the Corporation's common shares. The special dividend will be payable on December 27, 2013 to shareholders of record on December 23, 2013.

This special cash dividend  brings the total cash dividends declared for 2013 to $0.78 per share.

Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "During 2013, we have  continued to generate significant cash flow from operations. As such, we are pleased to be able to reward our shareholders with another special dividend.  We will have paid special dividends in six of the past seven years, with two special dividends paid in 2012."

About W&T Offshore

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and onshore in both the Permian Basin of West Texas and in East Texas.  We have grown through acquisitions, exploration and development and currently hold working interests in approximately 71 offshore fields in federal and state waters (65 producing and six fields capable of producing).  W&T currently has under lease over 1.4 million gross acres including over 710,000 gross acres on the Gulf of Mexico Shelf, over 480,000 gross acres in the deepwater and over 220,000 gross acres onshore in Texas. A substantial majority of our daily production is derived from wells we operate offshore.  For more information on W&T Offshore, please visit our website at www.wtoffshore.com.

SOURCE W&T Offshore, Inc.