Capital expenditure guidance
In 2016, W&T Offshore (WTI) expects capital expenditure of $60 million, ~74% lower than its 2015 capital expenditure of ~$230 million. W&T Offshore’s capital expenditure guidance excludes plug and abandonment expenses, capitalized expenses, and interest. W&T Offshore forecasts plug and abandonment expenses of $74 million in 2016. It expects to fund these expenses from cash on hand and cash flow from operating activities.
In the first nine months of 2016, W&T Offshore’s capital expenditure was ~$24.1 million, ~87% lower than the capital expenditure of the first nine months of 2015. W&T Offshore directed its 2016 capital expenditure towards completion, recompletion, and drilling activities.