DENVER, July 10, 2019 /PRNewswire/ -- One of the largest independent upstream oil and gas-focused investor conferences—The Oil & Gas Conference®—will take place Aug. 11-14, 2019, at the Denver Downtown Westin hotel. 

The event is EnerCom's 24^th annual Denver investment conference. At this year's conference, c-level leadership of leading oil and gas companies will present their plans for drilling and completing wells, discuss well results and capital efficiency, and estimate capital expenditures and production for the balance of 2019 and into 2020.

For the buyside investment community, the EnerCom conference provides top level access to oil and gas company c-suites. The four-day conference allows institutional investors to set one-on-one meetings with company management teams. Meetings are limited to buyside principals, portfolio managers, CIOs and securities analysts. Individual company meeting requests must be made in advance as part of the online conference registration process.

The publicly traded companies that make up the exclusive group of energy producers and oilfield service and royalty companies at the EnerCom conference represent a combined total of:

• $158 billion market capitalization;
• $207 billion enterprise value;
• 4.7 million barrels of oil equivalent production per day; and
• 19 billion barrels of proved reserves.

By way of comparison to EnerCom's 2017 conference, total market cap for the 2019 public company group is 34% higher than combined market cap of the 2017 presenters as of August 2017; enterprise value for the 2019 presenting companies is 26% higher than it was for the 2017 public companies; and oil equivalent production for the 2019 presenting companies is 47% higher than combined production for the 2017 presenting upstream companies.

Presenting companies represent oil and gas operations in all of North America's shale basins, Latin America's conventional oil plays, the Gulf of Mexico and other international oil and gas plays. The EnerCom conference is a convenient way for portfolio managers and analysts to see approximately 85+ oil and gas companies together at a single venue where informal networking and one-on-one access to company management is part of the conference experience.

A sample of the companies that are scheduled to present Aug. 12-14, 2019 at the 2019 EnerCom conference include:

• W&T Offshore, Inc. – (NYSE: WTI) – E&P with 30 years' operating history in the Gulf of Mexico. W&T has working interests in 48 producing fields in federal and state waters, for a total of 366,000 net acres on the Gulf of Mexico shelf and approximately 117,000 net acres of GOM deepwater. W&T's total Q1 production was 33.4 MBOEPD. In late June, W&T announced its acquisition of ExxonMobil's interests and operatorship in the eastern region of the Gulf of Mexico, offshore Alabama, as well as related onshore treating facilities, for $200 million, financed with cash and its revolver. The assets being acquired from ExxonMobil produced almost 20,000 BOEPD in Q1.
• PETRONAS – (the national oil company of Malaysia) – Established in 1974, Petroliam Nasional Berhad's (PETRONAS) global operations include E&P for oil and gas in Malaysia and abroad. Upstream, PETRONAS operates in more than 216 producing fields with 381 offshore platforms and facilities in 50 countries, with unconventional resources in Australia and Canada. LNG operations: PETRONAS has shipped more than 10,000 LNG cargoes for three decades to customers in Japan, Korea and China. Downstream, PETRONAS has three refineries, 11 blending plants, 18 petrochemical manufacturing plants and two fully integrated complexes, plus natural gas infrastructure and utilities.
• Chaparral Energy, Inc. – (NYSE: CHAP) – STACK-focused operator in Oklahoma with 132,000 STACK acres delivering access to stacked pay in the Meramec, Osage and Woodford formations. Chaparral has 225,000 total net surface acres, 74 MMBOE of reserves in the STACK play and total company production of ~21,000 BOEPD. Total 2018 proved reserves were almost 95 MMBOE. Chaparral finalized drilling of its 11-well cube style, co-development Foraker spacing test in Canadian County during the first quarter of 2019 and began completion of the wells late in the first quarter. The average 30-day IP rate for all 11 wells was 1,357 Boe/d, with 48% oil and 73% liquids.
• Rosehill Resources Inc. – (NASDAQ: ROSE) – Delaware Basin-focused Permian producer with 11,000 net acres in Texas and New Mexico; average working interest of 92%. Rosehill has 78 gross operated producing horizontal wells and it recorded average production of ~21,500 BOEPD in Q1 2019. In the Northern Delaware, Rosehill acreage is in the heart of Loving County with 10+ landing zones. In the Southern Delaware, bulk of acreage is located in northern Pecos County, Texas. Company is pursuing further bolt-on acreage opportunities in the Southern Delaware. Well costs are tracking under $7 million in 2019 for 5,000-foot laterals.
• Flotek Industries, Inc. – (NYSE: FTK) – products for the oil and gas operator include technology and research-focused energy performance chemistry for improved well performance, including stimulation chemistry, coil tubing chemistry, drilling fluid additives and others, plus reservoir characterization, polymer conformance and logistics management services. In Q1 Flotek closed the sale of its Florida Chemical Company subsidiary, raising $111 million net cash proceeds after paying off debt. The single focus of Flotek today is providing custom chemistry solutions for the energy industry.
• Journey Energy Inc. – (TSE: JOY) – Canadian producer focused on central and south Alberta's conventional oil pools that offer shallow, low-risk development drilling. Journey produced 9,300 BOEPD in Q1 2019, 48% liquids. Natural gas production accounted for 29,300 Mcf/day during the first quarter. Journey expects to spend $30 million on its exploration and development program in 2019. The company's capital program for 2019 began in May.
• Nuverra Environmental Solutions - (NYSE AMERICAN: NES) – Nuverra Environmental Solutions is an oilfield logistics and equipment company focused on water transport, transfer and disposal. Operating predominantly in the Marcellus/Utica, Bakken and Haynesville regions, the company's water services include delivery, collection, disposal and treatment of solid and liquid materials that are used in and generated during drilling, completion and production. Nuverra acquired Clearwater Three, LLC and Clearwater Five, LLC for $41.9 million in October, making it the second largest commercial disposal well operator in the Utica/Marcellus region.

Day Three Presenting Companies

Presenting companies for Day Three of The Oil & Gas Conference® include but are not limited to:

(NYSE: CHAP) - Chaparral Energy, Inc.

(NASDAQ: ROSE) - Rosehill Resources Inc.

Privately held - Ameredev II

(NYSE: FTK) - Flotek Industries, Inc

(NYSE: WFC) - Wells Fargo & Company

(NYSE: E) – Keynote Lunch: Eni, SpA

(NASDAQ: PVAC) - Penn Virginia Corporation

(OTCMKTS: BNKPF) - BNK Petroleum, Inc.

(TSE: JOY) - Journey Energy Inc.

(NYSE AMERICAN: NES) - Nuverra Environmental Solutions

The complete daily schedule of presenters is posted on the website (presenters, days, times are subject to change). The conference investor presentations begin at 7:30 a.m. and run through 4:30 p.m.

Online Registration is Open for EnerCom's 24^TH Annual The Oil & Gas Conference®:  Buyside investors and oil and gas company professionals may register for the event through the conference website registration page. 

The EnerCom conference forum fosters healthy dialogue and informal networking opportunities for attendees at several sponsored events the week of the conference.  

Public and Private Company Presenters: The 2019 edition of EnerCom's The Oil & Gas Conference® will feature public and private oil and gas companies with operations around the world including the U.S. shale basins, the Gulf of Mexico and Canada.  A work-in-progress list of the 2019 presenting companies will be updated on the conference website.

How to Hear the Luncheon Speakers:  Completing online registration well in advance of The Oil & Gas Conference® will provide your best chance to gain insight from Occidental Petroleum SVP and chief financial officer Cedric Burgher, Continental Resources Chairman and CEO Harold Hamm, and global supermajor Eni, SpA VP of North America Investor Relations Andrew Lees.

Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, family offices, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.

One-on-One Meetings:  EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2018, EnerCom arranged and managed more than 2,000 one-on-one meeting requests.

How to Register:  Investment professionals and oil and gas companies may register for the event through the conference website. 

EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest energy investment conference in Denver.

Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; and Drillinginfo. Sponsors of The Oil & Gas Conference® 24 include CIBC; Credit Agricole CIB; McGriff, Seibels & Williams; Haynes and Boone; Moss Adams; PNC; Preng & Associates; Bank of America Merrill Lynch; DNB Bank ASA; Holland & Hart; MUFG; Petrie Partners; SMBC; and Wells Fargo.

About EnerCom, Inc.

Since 1994 EnerCom, Inc. has developed into a nationally recognized management consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor relations, media relations, external communications and visual communications design. 

EnerCom offers investor relations consulting and it produces and publishes numerous data products and external communications tools for public energy companies and oil and gas investors including:

• Investor relations consulting services and investor roadshows specific to the oil and gas industry – contact Aaron Vandeford 303-296-8834 EXT: 222
• Corporate annual reports, oil and gas company websites, custom stratigraphic and subsurface illustrations, company investor presentations – contact Aaron Vandeford
• Oil & Gas 360® - an online daily industry financial news portal – advertising or company-wide subscriptions contact Ken Caiani 303-296-8834 EXT: 227
• Digital marketing services and lead generation for oilfield service and technology companies – contact Ken Caiani

Headquartered in Denver, with senior consultants in Dallas, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries. EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.

EnerCom's upcoming oil and gas investment conferences include:

EnerCom Denver (The Oil & Gas Conference®) – August 11-14, 2019

EnerCom Dallas – March 4-5, 2020

For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.

Netherland, Sewell & Associates, Inc.

Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.

For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.

Drillinginfo

Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo's solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves over 5,000 companies globally from its Austin, Texas headquarters and has more than 1,000 employees.

For more information visit drillinginfo.com

CIBC

CIBC is a leading Canadian-based global financial institution with a reputation as a strong, reliable banking partner focused on delivering customized products and services built on innovative thinking and leading technology.

Through our major business units – Canadian Personal & Business Banking, Canadian Commercial Banking & Wealth Management, U.S. Commercial Banking & Wealth Management and Capital Markets – our more than 45,000 employees provide a full range of financial products and services to 10 million clients around the world.

With offices throughout North America and other major financial centers, we are widely recognized as a strong global financial institution with more than $634 billion in assets and a market capitalization of $50 billion. We are rated A+ by Standard & Poor's, Aa2 by Moody's Investor Service and AA- by Fitch Ratings.

Our dedicated industry specialists based in Houston, New York, Calgary, London, Hong Kong, Beijing, Tokyo, Singapore and Sydney draw on the breadth of our capabilities to support firms across the entire energy value chain. From credit commitments, A&D advisory, M&A, and capital markets, we help our clients achieve their objectives and unlock value across a range of market conditions.

Visit www.cibccm.com/energy to learn more about CIBC Capital Markets and our energy capabilities.

Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD.  Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.

The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.

For more information, visit www.ca-cib.com.

McGriff, Seibels & Williams

As one of the most progressive insurance brokerage firms in the United States, McGriff, Seibels & Williams leads the way with innovative programs to protect our clients' financial interests.

Our experienced professionals work with some of the world's largest corporations to design state-of-the-art solutions for a full range of needs "…from property and casualty exposures…to employee benefits, life and pension plans…to financial services and surety products…to specialty insurance programs."

Our philosophy of personal service and attention to individual needs puts the client at the top of our organizational chart. We work to make each relationship a long-term partnership that continues to grow in value.

For more information please visit mcgriff.com.

Haynes and Boone

Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.

Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.

For more info, please visit www.haynesboone.com.

Moss Adams LLP

For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.

With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.

For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.

Moss Adams LLP provides details at https://www.mossadams.com/home .

PNC Financial Services Group

PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom. PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.

For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.

Preng & Associates

Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.

Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.

For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.

Bank of America Merrill Lynch

Bank of America Merrill Lynch Oil and Gas Group

The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending.  The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.

The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities.  BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor. 

DNB ASA

DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy and serves this market through multiple offices around the world including Houston, London and Singapore.

Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.

For information on DNB's energy services, please visit the DNB energy website.

Holland & Hart

Holland & Hart's oil and gas clients include the major, large independent producers and small to medium sized independents.

The Mountain West is one of the nation's leading oil and gas producing regions, and we are the only law firm with established oil and gas lawyers in every state in the region. We provide clients broad-based, in-depth industry knowledge and legal capabilities by local practitioners who have long-standing professional relationships with decision makers in each of the Mountain West states.

We assist clients at every stage of the oil and gas business, from upstream activities including exploration, production, secondary and tertiary recovery, to midstream gathering and processing activities; and to downstream elements including refining, pipelines, local distribution, marketing, and Federal and State utility regulation. Within each segment of the oil and gas business, Holland & Hart's regional team has experience providing representation every step of the way.

For details, please contact Lisa Adelberg in the Denver office: (303) 295-8148.  

MUFG

Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.

We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management. 

For more information, visit: www.mufgamericas.com/oil-gas.

Petrie Partners

Petrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements.

For more information please refer to petrie.com.

SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.

SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.

SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.

For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/

Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.

The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.

The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.

These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.

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SOURCE EnerCom, Inc.

DENVER, June 12, 2019 /PRNewswire/ -- EnerCom has released the presentation schedule for the oil and gas companies presenting at its 24^th annual The Oil & Gas Conference® on Aug. 11-14, 2019, in Denver, Colorado.

Day One Presenting Companies at the 2019 EnerCom Conference

Aug. 12, 2019, the first day of the EnerCom conference presentation schedule, features a large, established group of operators working across North America's shale basins and internationally, including:

• Cabot Oil & Gas – (NYSE: COG) – one of the largest Marcellus-focused gas producers; Cabot's 2019 capital budget is approximately $800 million; for 2019 Cabot plans to drill and complete 85 to 90 net wells and place 80 to 85 net wells on production.
• Core Laboratories – (NYSE: CLB) – industry leading reservoir optimization company with two key business segments: Reservoir Description and Production Enhancement. Core Lab works with NOCs, integrated supermajors and independent E&Ps in every oil and gas jurisdiction.
• Liberty Oilfield Services – (NYSE: LBRT) – premier technology-driven hydraulic fracturing services company with skilled crews, proprietary technology, state-of-the-art equipment, originator of "The Quiet Fleet."
• Vermilion Energy – (NYSE: VET) – In the U.S. Vermilion has a significant PRB Turner Sand position, a dominant Canadian Cardium position and European onshore and offshore operations.
• HighPoint Resources – (NYSE: HPR) – legacy DJ Basin operator in northern Colorado and southeast Wyoming, with acreage positions exclusively in rural areas with no urban exposure.
• Jagged Peak Energy – (NYSE: JAG) – pure play Delaware Basin operator with 75,000 net acres in the Southern Delaware Basin
• Baytex Energy – (NYSE: BTE) – crude oil and liquids production in the Eagle Ford shale in the U.S. and Canada's Duvernay, Lloydminster, Viking and Peace River plays.
• Occidental Petroleum – (NYSE: OXY) – top 10 U.S. E&P, with industry-leading operations in the Permian Basin, Middle East and Latin America, and significant midstream and chemical business units.
• Goodrich Petroleum – (NYSE: GDP) – leading Haynesville gas producer with 10,000 net acres in the core, with additional operations/assets in the Eagle Ford and TMS.
• Sundance Energy Australia – (NASDAQ: SNDE) – 52,000 net acres in the core of the Eagle Ford shale; 17 years of drilling inventory, 14,000 BOEPD producer.
• Kimbell Royalty Partners – (NYSE: KRP) – risk-adjusted cash yield through direct mineral ownership in over 13 million gross acres and more than 92,000 wells, without any associated operating costs or capital expenditures.
• SilverBow Resources – (NYSE: SBOW) – Eagle Ford pure play producing 227 MMcfe in Q42018 and proved reserves of 1,345 MMcfe (81% natural gas) at Dec. 31, 2018.
• Ring Energy – (NYSE: REI) – Permian pure play with 20,000 net acres in the Delaware Basin's Reeves and Culberson counties in Texas and 76,000 net acres in the Central Basin Platform.
• Gran Tierra Energy – (NYSE: GTE) – international independent E&P focused on developing oil assets in Colombia and Ecuador, producing 36,000 BOEPD.
• Lilis Energy – (NYSE: LLEX) – Delaware Basin pure-play – 20,000 net acre-contiguous acreage block in Loving and Winkler Counties, with additional acreage in Lea County, New Mexico. Focused on drilling the Wolfcamp, Bone Springs and Avalon formations.
• Panhandle Oil & Gas – (NYSE: PHX) – owns approximately 258,600 acres of perpetual mineral rights and 19,000 acres of leasehold rights in 10 states including the SCOOP, STACK, Eagle Ford Shale, Permian Basin, and the Bakken; assets include more than 6,000 gross producing wells.
• Lonestar Resources – (NASDAQ: LONE) – 57,000 net acres in the Eagle Ford shale with production of more than 11,000 BOEPD; uses geo-engineered completions and LWD steering.
• SM Energy – (NYSE: SM) – successful operator in the Midland and Eagle Ford shale basins, expects 2Q2019 production to be 126-131 MBOEPD; targeting free cash flow in 2H2019.
• W&T Offshore – (NYSE: WTI) – drilling assets on 201,000 deepwater Gulf of Mexico gross acres and 440,000 gross acres on the GOM shelf.
• Ultra Petroleum – (NASDAQ: UPL) – dominant Pinedale operator developing long-life gas reserves in the Green River Basin in the Pinedale and Jonah fields.
• Fleur de Lis Energy – (PRIVATE) – a "hybrid" private equity investment firm and oil and gas operator that has drilled 15 horizontal wells in the Permian Basin.

The conference investor presentations begin at 7:30 a.m. and run through 4:30 p.m. on Monday, Aug. 12.

Expert Speakers: Global energy industry leaders, economists, market strategists, government officials, energy finance professionals and other energy experts will provide their insights on global commodities markets, energy exports, frac sand supply and logistics, and capital sources for energy development.   

EnerCom is pleased to include Credit Agricole CIB's Chief Economist for the United States Michael Carey as a guest expert speaker at 11:30 a.m. on Monday, Aug. 12. Carey will provide his insight on energy markets, capital markets and market conditions going forward.

Monday's luncheon keynote address on Aug. 12, 2019 will be provided by Cedric Burgher, Occidental Petroleum (NYSE: OXY) CFO.

Online Registration is Open for EnerCom's 24^TH Annual The Oil & Gas Conference®:  Buyside investors and oil and gas company professionals may register for the event through the conference website registration page. 

Conference Details: The Oil & Gas Conference® 24 offers investment professionals the opportunity to listen to senior management teams in the oil and gas industry present operational and financial strategies and to gain exposure to important energy topics affecting the global oil and gas industry.

The EnerCom conference forum fosters healthy dialogue and informal networking opportunities for attendees at several sponsored events the week of the conference.  

Public and Private Company Presenters: The 2019 edition of EnerCom's The Oil & Gas Conference® will feature public and private oil and gas companies with operations around the world including the U.S. shale basins, the Gulf of Mexico and Canada.  A work-in-progress list of the 2019 presenting companies will be updated on the conference website. The daily schedule of presenters is also posted on the website (presenters, days, times are subject to change).

How to Hear the Luncheon Speakers:  Completing online registration well in advance of The Oil & Gas Conference® will provide your best chance to gain insight from Occidental Petroleum SVP and chief financial officer Cedric Burgher, Continental Resources Chairman and CEO Harold Hamm, and global supermajor Eni, SpA VP of North America Investor Relations Andrew Lees.

Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, family offices, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.

One-on-One Meetings:  EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2018, EnerCom arranged and managed more than 2,000 one-on-one meeting requests.

How to Register:  Investment professionals and oil and gas companies may register for the event through the conference website. 

EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest energy investment conference in Denver.

Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; and Drillinginfo. Sponsors of The Oil & Gas Conference® 24 include CIBC; Credit Agricole CIB; McGriff, Seibels & Williams; Haynes and Boone; Moss Adams; PNC; Preng & Associates; Bank of America Merrill Lynch; DNB Bank ASA; Holland & Hart; MUFG; Petrie Partners; SMBC; and Wells Fargo.

About EnerCom, Inc.

Since 1994 EnerCom, Inc. has developed into a nationally recognized management consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor relations, media relations, external communications and visual communications design. 

EnerCom produces and publishes numerous data products and external communications tools for public energy companies and oil and gas investors including:

• peer group company valuations that are specific to the oil and gas industry;
• corporate annual reports, oil and gas company websites, custom stratigraphic and subsurface illustrations;
• company investor presentations;
• EnerCom's Monthly Oil & Gas Industry Data & Trends Report;
• Oil & Gas 360® - an online daily industry news portal; and
• EnerCom 360 - the online magazine.

Headquartered in Denver, with senior consultants in Dallas, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries. EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.

EnerCom's upcoming oil and gas investment conferences include:

EnerCom Denver (The Oil & Gas Conference®) – August 11-14, 2019
EnerCom Dallas – Q1 - 2020

For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.

About Netherland, Sewell & Associates, Inc.

Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.

For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.

About Drillinginfo

Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo's solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves over 5,000 companies globally from its Austin, Texas headquarters and has more than 1,000 employees.

For more information visit drillinginfo.com

About CIBC

CIBC is a leading Canadian-based global financial institution with a reputation as a strong, reliable banking partner focused on delivering customized products and services built on innovative thinking and leading technology.

Through our major business units – Canadian Personal & Business Banking, Canadian Commercial Banking & Wealth Management, U.S. Commercial Banking & Wealth Management and Capital Markets – our more than 45,000 employees provide a full range of financial products and services to 10 million clients around the world.

With offices throughout North America and other major financial centers, we are widely recognized as a strong global financial institution with more than $634 billion in assets and a market capitalization of $50 billion. We are rated A+ by Standard & Poor's, Aa2 by Moody's Investor Service and AA- by Fitch Ratings.

Our dedicated industry specialists based in Houston, New York, Calgary, London, Hong Kong, Beijing, Tokyo, Singapore and Sydney draw on the breadth of our capabilities to support firms across the entire energy value chain. From credit commitments, A&D advisory, M&A, and capital markets, we help our clients achieve their objectives and unlock value across a range of market conditions.

Visit www.cibccm.com/energy to learn more about CIBC Capital Markets and our energy capabilities.

About Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD.  Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.

The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.

For more information, visit www.ca-cib.com.

McGriff, Seibels & Williams

As one of the most progressive insurance brokerage firms in the United States, McGriff, Seibels & Williams leads the way with innovative programs to protect our clients' financial interests. Our experienced professionals work with some of the world's largest corporations to design state-of-the-art solutions for a full range of needs "…from property and casualty exposures…to employee benefits, life and pension plans…to financial services and surety products…to specialty insurance programs."

Our philosophy of personal service and attention to individual needs puts the client at the top of our organizational chart. We work to make each relationship a long-term partnership that continues to grow in value.

For more information please visit mcgriff.com.

About Haynes and Boone

Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.

Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.

For more info, please visit www.haynesboone.com.

About Moss Adams LLP

For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group. With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.

For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.

Moss Adams LLP provides details at https://www.mossadams.com/home .

About PNC Financial Services Group

PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.

PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.

For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.

About Preng & Associates

Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.

Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.

For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.

About Bank of America Merrill Lynch

Bank of America Merrill Lynch Oil and Gas Group

The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending.  The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.

The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities.  BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor. 

About DNB ASA

DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy and serves this market through multiple offices around the world including Houston, London and Singapore.

Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.

For information on DNB's energy services, please visit the DNB energy website.

About Holland & Hart

Holland & Hart's oil and gas clients include the major, large independent producers and small to medium sized independents.

The Mountain West is one of the nation's leading oil and gas producing regions, and we are the only law firm with established oil and gas lawyers in every state in the region. We provide clients broad-based, in-depth industry knowledge and legal capabilities by local practitioners who have long-standing professional relationships with decision makers in each of the Mountain West states.

We assist clients at every stage of the oil and gas business, from upstream activities including exploration, production, secondary and tertiary recovery, to midstream gathering and processing activities; and to downstream elements including refining, pipelines, local distribution, marketing, and Federal and State utility regulation. Within each segment of the oil and gas business, Holland & Hart's regional team has experience providing representation every step of the way.

For details, please contact Lisa Adelberg in the Denver office: (303) 295-8148.   

About MUFG

Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.

We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management. 

For more information, visit: www.mufgamericas.com/oil-gas.

About Petrie Partners

Petrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements.

For more information please refer to petrie.com.

About SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.

SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.

SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.

For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.

The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.

The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.

These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.

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SOURCE EnerCom, Inc.

HOUSTON, Dec. 3, 2018 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) today announced that it has established additional commodity hedge positions.

The Company currently has the following commodity price hedges in place:

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 has grown through acquisitions, exploration and development.  The Company currently has working interests in 48 producing fields in federal and state waters and has under lease approximately 650,000 gross acres, including approximately 440,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the deepwater.  A majority of the Company's daily production is derived from wells it operates.  For more information on W&T Offshore, please visit the Company's website at www.wtoffshore.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations, uncertainties and other factors discussed in W&T Offshore's Annual Report on Form 10-K for the year ended December 31, 2017 and subsequent Form 10-Q reports found at www.sec.gov or at our website at www.wtoffshore.com under the Investor Relations section. Investors are urged to consider closely the disclosures and risk factors in these reports.

View original content:http://www.prnewswire.com/news-releases/wt-offshore-provides-additional-hedge-positions-300759348.html

SOURCE W&T Offshore, Inc.

HOUSTON, Dec. 3, 2018 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) announced today that the Company will be participating in the Capital One Securities 13th Annual Energy Conference to be held in New Orleans on December 4-6, 2018.

Tracy Krohn, W&T Offshore's Chairman and CEO, is scheduled to make a presentation on Wednesday, December 5 at 10:30 a.m. Central Time.  The presentation will provide an update on the Company's operations and will be broadcast over the Internet.  The webcast link to the audio presentation and accompanying slides can be accessed live and for replay from the Company's website at www.wtoffshore.com by visiting the Event Calendar in the Investor Relations section.

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 has grown through acquisitions, exploration and development.  The Company currently has working interests in approximately 48 producing fields in federal and state waters and has under lease approximately 650,000 gross acres, including approximately 440,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the deepwater.  A majority of the Company's daily production is derived from wells it operates.  For more information on W&T Offshore, please visit the Company's website at www.wtoffshore.com.

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SOURCE W&T Offshore, Inc.

HOUSTON, Nov. 6, 2018 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) today announced certain executive management changes within the Company, effective immediately.

The Company announced the appointment of Janet Yang to Executive Vice President and Chief Financial Officer, following her appointment as acting Chief Financial Officer in August 2018.  Ms. Yang will also assume the role of Principal Accounting Officer of the Company.  Additionally, the Company announced the promotions of David M. Bump from Vice President to Executive Vice President, Drilling, Completions and Facilities and William J. Williford from Vice President to Executive Vice President and General Manager of Gulf of Mexico. 

The Company also announced the departure of Thomas P. Murphy, Senior Vice President and Chief Operations Officer.  Mr. Bump and Mr. Williford will be assuming the duties of Mr. Murphy.

Tracy Krohn, W&T Offshore's Chairman and CEO, stated, "These leadership changes support our vision for the next phase of our Company's success.  Janet has demonstrated strong leadership in key strategic initiatives of the Company over the years, including our recently successful corporate debt reduction and refinancing as well as our drilling joint venture announced earlier this year.  We appreciate her hard work and have complete confidence in her abilities to continue to effectively lead our financial operations.  I am pleased to have her permanently move into the CFO role. 

"We are also announcing the well-deserved promotions of David and William to Executive Vice President positions.  They have both proven themselves to be highly effective and valuable leaders at W&T, and we are confident that they will continue to create value for the Company going forward.  While we appreciate Tom's many contributions over the last several years and wish him well in his next endeavors, David and William are well prepared and have assumed his previous responsibilities to advance our growth."

Janet Yang joined W&T in 2008 and was appointed acting Chief Financial Officer in August 2018.  Previously she was Finance Manager and in 2012 became Director, Strategic Planning & Analysis, a position she held until being appointed Vice President, Corporate & Business Development in 2017.  Ms. Yang has over 16 years of finance, investment, capital markets and strategy experience in the energy industry.  Prior to joining W&T, Ms. Yang held positions in research and investment analysis at BlackGold Capital Management, investment banking at Raymond James and energy trading at Allegheny Energy.  Ms. Yang received a B.A. in Economics from Rice University and an M.B.A. with concentrations in Finance and Accounting from The University of Chicago Booth School of Business.

David M. Bump joined the company in April 2014 as Vice President, Drilling and Completions. Mr. Bump brings with him 25 years of domestic and international industry experience with both small and large independent operators. From 2011 to 2014, he worked for Anadarko Petroleum Corporation as the Drilling and Completions Manager overseeing the Mozambique operations. From 2006 through 2011, Mr. Bump served as Anadarko's Gulf of Mexico and International Deepwater Completions Manager. From 1997 until 2006, Mr. Bump held a variety of positions with Kerr-McGee Oil and Gas prior to the merger with Anadarko Petroleum Corporation. These positions included Gulf of Mexico/International Deepwater Completions Manager, Drilling Engineering Manager of China Operations, and Deepwater Drilling Engineer. Prior to 1997, he held various engineering positions at several small independent operators. Mr. Bump received Bachelor of Science Degree in Petroleum Engineering from Texas A&M University in 1989.

William J. Williford joined W&T in June 2006 and was appointed Vice President and General Manager Gulf of Mexico in 2018. Since 2006, he has served in various positions of increasing responsibility with the Company, including Reservoir Engineer, Exploration Project Manager, General Manager Deepwater Gulf of Mexico, and most recently, General Manager Gulf of Mexico Shelf and Deepwater. Mr. Williford has over 20 years of oil and gas technical experience with large independents in the Gulf of Mexico and Domestic Onshore. Prior to joining W&T, Mr. Williford held positions in reservoir, production, and operations at Kerr-McGee and Oryx Energy. Mr. Williford received a B.S. in Petroleum Engineering from Mississippi State University.

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 has grown through acquisitions, exploration and development.  The Company currently has working interests in 48 producing fields in federal and state waters and has under lease approximately 650,000 gross acres, including approximately 440,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the deepwater.  A majority of the Company's daily production is derived from wells it operates.  For more information on W&T Offshore, please visit the Company's website at www.wtoffshore.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations, uncertainties and other factors discussed in W&T Offshore's Annual Report on Form 10-K for the year ended December 31, 2017 and subsequent Form 10-Q reports found at www.sec.gov or at our website at www.wtoffshore.com under the Investor Relations section. Investors are urged to consider closely the disclosures and risk factors in these reports. 

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SOURCE W&T Offshore, Inc.

HOUSTON, Oct. 31, 2018 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) today reported its third quarter 2018 operational and financial results, fourth quarter and full year 2018 production and expense guidance. Some of the key highlights included:

• On October 18, 2018, W&T closed on a major debt refinancing, which reduced total debt principal outstanding from $903 million to $625 million plus $61 million drawn on a revolving bank credit facility, simplified the capital structure, and extended the maturities of our revolving bank credit facility and high yield debt to 2022 and 2023, respectively, while maintaining strong liquidity in excess of $200 million.
• Net income for the third quarter of 2018 was $46.3 million, or $0.32 per share compared to a net loss of $1.3 million or $0.01 loss per share in the third quarter of 2017. Net income for the third quarter of 2018 included $0.1 million of income tax expense compared to $5.5 million for the third quarter of 2017. Excluding special items, adjusted net income for the third quarter of 2018 was $44.1 million and earnings were $0.30 per share.
• Revenues for the third quarter of 2018 were $153.5 million, up $43.2 million, or 39% compared to the third quarter of 2017. Oil and natural gas liquids ("NGLs") sales made up 84% of revenues, compared to 77% in the third quarter of 2017. Our realized crude oil price was $69.57 per barrel, up 52% from the third quarter 2017.
• Operating income for the third quarter of 2018 was $ 57.1 million, an increase of 264% or $41.4 million, over the third quarter of 2017.
• Production for the third quarter of 2018 averaged 36,508 barrels of oil equivalent ("Boe") per day (or 3.4 million Boe for the quarter), 61% of which was oil and NGLs. Production was flat with the third quarter of 2017 on lower capital expenditures.
• Cash flow from operating activities for the first nine months of 2018 was $294.9 million, increasing over 126% from the first nine months of 2017.
• Adjusted EBITDA for the third quarter of 2018 was $92.2 million, up $35.0 million, or 61% compared to the third quarter of 2017. Our Adjusted EBITDA margin was 60% for the third quarter of 2018, up from 52% in third quarter of 2017. For the first nine months of 2018, our Adjusted EBITDA was $262.7 million, up $67.1 million or 34% over the same period in 2017. (See definitions and reconciliations of non-GAAP measures to GAAP measures at the end of this news release.)
• On September 28, 2018, W&T closed on the sale of non-core overriding royalty interests in the Permian Basin for net proceeds received to date of $50.5 million.
• Since the end of the second quarter of 2018, W&T participated in the drilling of three successful wells.

Tracy W. Krohn, W&T Offshore's Chairman and Chief Executive Officer, stated, "We are very pleased to have completely refinanced our debt, which included the successful and over-subscribed issuance of $625 million of new 9.75% senior second lien notes due November 2023 and a newly established revolving bank credit facility with a borrowing base of $250 million.  We dramatically simplified our debt structure and reduced total debt principal outstanding from $903 million to $625 million plus $61 million currently drawn on the revolving bank credit facility.  Our current liquidity is over $200 million, and with continued strong positive cash flow, we anticipate exiting 2018 with a much-improved balance sheet and the financial strength to pursue meaningful growth opportunities.  W&T has a long history of completing acquisitions of producing assets in the Gulf of Mexico with upside potential and a demonstrated track record for significantly enhancing the value of those assets while boosting cash flow.  We believe that market conditions in the Gulf are currently favorable for acquisitions and with our improved financial liquidity, we are very well positioned to benefit."

"Our continued drilling success and ability to put new projects online quickly in a positive commodity price environment has allowed us to significantly increase our cash flow.  Since the end of the second quarter we drilled three more successful wells that are adding reserves and production.  At the Mahogany field, our newly drilled A-19 well found high quality net pay in multiple sands.  The first completion in the A-19 well will be in the 'T' sand.  The 'T' sand was found up-dip from known oil which we believe further demonstrates that Mahogany is a world class asset.  Additionally, we drilled another successful well at the Ewing Bank 910 field with an exploration discovery that also exceeded our pre-drill estimates.  The ST 320 A-2 exploratory well logged approximately 163 vertical feet of pay sands.  Both of these wells are currently being completed and are expected to be on production before year-end 2018.  We will then continue our drilling programs in both of these fields.  At our Virgo field we drilled the A-12 well, which found 60 feet of net vertical pay sands is in final stage of completion activity and is expected to be on production in November. The Virgo field rig is now drilling the A-13 well, which assuming success, would add production in early 2019.  The A-12 and A-13 wells are part of the Monza Drilling Joint Venture," concluded Mr. Krohn. 

Production, Prices and Revenues: Production for the third quarter of 2018 was 3.4 million Boe, flat with the third quarter of 2017.  Third quarter 2018 production was comprised of 1.7 million barrels of oil, 0.3 million barrels of NGLs and 7.9 billion cubic feet ("Bcf") of natural gas.  Oil and NGLs production comprised 61% of total production in the third quarter of 2018 compared to 60% of total production in the third quarter of 2017. 

Production for the third quarter of 2018 exceeded the mid-point of the production guidance and was partially driven by less storm outage than was projected for the period.    

Production increases over the prior year period primarily came from our newly acquired 9.375% non-operated working interest in the Heidelberg field and our Ship Shoal 300 field (with the completion of the SS 300 B-5ST in November 2017).  These gains were offset by production decreases primarily due to natural production declines.

For the third quarter of 2018, our realized crude oil sales price was $69.57 per barrel (a 52% increase over the third quarter of 2017), our realized NGL sales price was $31.70 per barrel and our realized natural gas sales price was $2.85 per Mcf.  Our combined average realized sales price was $45.32 per Boe, which represents a 40% increase over the $32.43 per Boe sales price that we realized in the third quarter of 2017. 

Revenues for the third quarter of 2018 increased 39% to $153.5 million compared to $110.3 million in the third quarter of 2017 as a result of the 40% increase in our realized commodity sales price per Boe. 

Lease Operating Expenses: Lease operating expense, which includes base lease operating expenses, insurance premiums, workovers and facilities maintenance, was $37.4 million in the third quarter of 2018 compared to $35.1 million in the third quarter of 2017.  The increase was primarily due to higher workover expenses.  On a component basis, base lease operating expenses were $29.6 million, insurance premiums were $3.1 million, workovers were $1.2 million and facilities maintenance was $3.5 million. Facilities maintenance tends to be seasonal and is typically lower during the winter months.

Depreciation, depletion, amortization and accretion ("DD&A"):  DD&A, including accretion for asset retirement obligations, was $11.01 per Boe of production for the third quarter of 2018 compared to $10.88 per Boe for the third quarter of 2017.   

General and Administrative Expenses ("G&A"):  G&A was $16.0 million for the third quarter of 2018, an increase of 2% compared to $15.6 million in the third quarter of 2017.  The increase was primarily due to an accrual for an executive's separation settlement, an increase in medical claims and the termination of an office lease.

Derivative (gain) loss:  In the third quarter of 2018, we recorded a net gain of $0.3 million on our outstanding crude oil commodity derivative contracts.  This compared to a net loss of $2.9 million in the third quarter of 2017 on the derivative contracts that expired at the end of 2017.  A list of our derivative positions may be found on our website at www.wtoffshore.com in the investor relations section under "other reports" tab.

Income Tax:  Income tax expense was $0.1 million in the third quarter of 2018 compared to income tax expense of $5.5 million in the third quarter of 2017.  We are not forecasting any current income tax expense and our deferred expense is fully offset by a valuation allowance. Consequently, our effective tax rate is not meaningful. The balance sheet at September 30, 2018, reflects current income tax receivables of $65.2 million, which relates to our net operating loss claims for plug and abandonment work that qualifies as specified liability losses for tax purposes, allowing net operating losses to be carried back to prior years. 

Net Income & Earnings Per Share:  Our net income for the third quarter of 2018 was $46.3 million, or $0.32 per common share.  Excluding special items, our adjusted net income was $44.1 million, or $0.30 per share.  For the third quarter of 2017, our net loss was $1.3 million, or $0.01 loss per share; excluding special items, adjusted net income for the third quarter of 2017 was $6.0 million, or $0.04 per share.  (See the "Reconciliation of Net Income (loss) to Net Income Excluding Special Items" and related earnings per share, excluding special items in the table under "Non-GAAP Information" at the end of this news release for a description of the special items.)

Cash Flow and Adjusted EBITDA:  Net cash provided by operating activities for the nine months ended September 30, 2018 was $294.9 million, an increase of 126% compared to $130.3 million for the nine months ended September 30, 2017.  The increase is primarily due to higher realized prices for crude oil and NGLs, lower spending on plug and abandonment activities and $27.0 million in cash advance from joint venture partners. 

Adjusted EBITDA for the third quarter of 2018 was $92.2 million and Adjusted EBITDA margin was 60%, compared to Adjusted EBITDA of $57.2 million and Adjusted EBITDA margin of 52% for the third quarter of 2017.  Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures and are defined in the "Non-GAAP Information" section at the end of this news release.  

Liquidity: On October 18, 2018, we closed on a major debt refinancing, which reduced total debt principal outstanding from $903 million to $625 million, simplified the capital structure and extended the maturities of our revolving credit facility and high yield debt to 2022 and 2023, respectively, while maintaining strong liquidity.

We issued $625 million of new 9.75% senior second lien notes due November 2023.  The net proceeds from the issuance, along with cash on hand and borrowings on the revolving credit facility are being used to retire all of the Company's previously outstanding notes.

Concurrently, the Company entered into a Sixth Amended and Restated Credit Agreement which provides for a revolving credit and letter of credit facility with an initial borrowing base of $250 million.  The revolving credit facility will mature on October 18, 2022.  Currently, we have $61 million borrowings on the revolving bank credit facility and $9.7 million of letters of credit outstanding. 

Total liquidity on October 18, 2018 was $220.1 million, consisting of an unrestricted cash balance of $40.8 million and $179.3 million of availability under our revolving bank credit facility.

Capital Expenditures:  Our capital expenditures for oil and gas properties on an accrual basis for the nine months of 2018 were $59.2 million, compared to $79.1 million for the 2017 period. In addition, we acquired a 9.375% interest in the Heidelberg field for $16.8 million.  The 2018 period reflects a net reimbursement from Monza Energy LLC of approximately $20 million for W&T's costs associated with wells drilled or were being drilled prior to the partial interests being contributed by W&T to Monza.  During the nine months ended September 30, 2018, we completed the SS 359 A-17 well, drilled and completed the SS 359 A-5 ST well, and drilled the SS 359 A-19 well at Mahogany field; drilled and completed the A-10 ST well and the A-12 well at Viosca Knoll 823 ("Virgo"); and drilled the ST 320 A-2 well at Ewing Bank 910 field.  At September 30, 2018 there were two wells being completed and one well being drilled.

OPERATIONS UPDATE 

We are currently operating or participating in three active drilling programs in the Gulf of Mexico, as described below.

Ship Shoal 349 "Mahogany" (operated, shelf, 100% working interest):  The SS 359 A-19 well was drilled to total depth and found high quality net pay in multiple field pay sands with better than expected reservoir characteristics.  Currently, the well is being completed and should be on production before year-end 2018.  Following the A-19 well completion, the platform rig will drill the A-20 development well targeting the T-Sand.

Ewing Bank 910 Field Area (non-operated wells, deepwater, in JV Drilling Program):  The ST 320 A-2 exploratory well was successfully drilled from the South Timbalier 311 platform that is part of the Ewing Bank 910 field.  The well logged approximately 163 vertical feet of net pay, which also exceeded pre-drill estimates, and is currently being completed.  We expect to have the well on production via existing infrastructure before year-end 2018.  W&T has a 10.8% interest in the ST 320 A-2 well before certain thresholds are met.

Following the completion of the ST 320 A-2 well, the rig will spud the ST 320 A-3 well, another low-risk exploration opportunity in the Ewing Bank 910 field.  We believe stratigraphic information from a high quality thick Miocene sand that was penetrated in another offset well has reduced the risk on the ST 320 A-3 prospect. W&T has a 10.8% interest in the ST 320 A-3 well before certain thresholds are met.

Viosca Knoll 823 "Virgo" (operated, shelf, in JV Drilling Program):  The Virgo field platform rig drilled and completed the A-12 well in block VK 779, which is currently on flow-back.  The well found 60 feet of net vertical pay.  The rig has commenced drilling the A-13 well, which is expected to reach total depth in November or December of 2018 with production expected to commence by year-end 2018 or early 2019. W&T has a 16% interest in the A-12 and a 23.9% interest in the A-13 well before certain thresholds are met.

Well Recompletions and Workovers:  During the third quarter of 2018 we performed four recompletions that added approximately 1,673 Boe per day of initial production and six workovers that added approximately 265 Boe per day of initial production. 

Fourth Quarter and Full Year 2018 Production and Expense Guidance

Our guidance for the fourth quarter and full year 2018 in the table below represents the Company's best estimate of the range of likely future results. Guidance could be affected by the factors described below in "Forward-Looking Statements".   

Conference Call Information:  W&T will hold a conference call to discuss our financial and operational results on Thursday, November 1, 2018, at 10:00 a.m. Eastern Time (9:00 a.m. Central Time).  To participate, dial 412-902-0030 a few minutes before the call begins.  The call will also be broadcast live over the Internet from the Company's website at www.wtoffshore.com.  A replay of the conference call will be available after the call through November 9, 2018 and may be accessed by calling 201-612-7415 and using the passcode 13683861#.

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 has grown through acquisitions, exploration and development.  The Company currently has working interests in 48 producing fields in federal and state waters and has under lease approximately 650,000 gross acres, including approximately 440,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the deepwater.  A majority of the Company's daily production is derived from wells it operates.  For more information on W&T Offshore, please visit the Company's website at www.wtoffshore.com.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations, uncertainties and other factors discussed in W&T Offshore's Annual Report on Form 10-K for the year ended December 31, 2017 and subsequent Form 10-Q reports found at www.sec.gov or at our website at www.wtoffshore.com under the Investor Relations section. Investors are urged to consider closely the disclosures and risk factors in these reports. 

W&T OFFSHORE, INC. AND SUBSIDIARIES
Non-GAAP Information

Certain financial information included in our financial results are not measures of financial performance recognized by accounting principles generally accepted in the United States, or GAAP.  These non-GAAP financial measures are "Net Income Excluding Special Items," "EBITDA" and "Adjusted EBITDA."   Our management uses these non-GAAP financial measures in its analysis of our performance.   These disclosures may not be viewed as a substitute for results determined in accordance with GAAP and are not necessarily comparable to non-GAAP performance measures which may be reported by other companies. 

Reconciliation of Net Income (Loss) to Net Income Excluding Special Items

"Net Income Excluding Special Items" does not include the unrealized commodity derivative (gain) loss, bad debt reserve, gain on exchange of debt, lawsuits and settlements, and penalties, litigation and related interest and associated income tax adjustments.  Net Income Excluding Special Items is presented because the timing and amount of these items cannot be reasonably estimated and affect the comparability of operating results from period to period, and current periods to prior periods.