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W&T Offshore (WTI)
W&T Offshore was off to the races in its first year as a public company. In fiscal 2005, it reported a 37% increase in profits -- solid considering that some production was deferred in the wake of hurricanes Rita and Katrina. But W&T stood out for its exploration record, successfully drilling 17 of 22 exploration wells and adding some 5% to its petroleum reserves. CEO Tracy W. Krohn, who founded the company in 1983, also managed to flex W&T's new financial muscle. He invested in several new Gulf of Mexico wells for future drilling, including some promising Kerr-McGee properties. Investors don't seem worried that the company is totally dependent on its projects in the storm-vulnerable Gulf. Based on W&T's exploration record and the high price of oil, they have pushed the stock to $40, more than double its initial public offering price.
Company Info |
|
| 2005 Rank | 7 |
| Market Value* ($ Millions) | 2,816.7 |
| Sales* ($ Millions) | 618.2 |
| Sales Growth (3-yr. avg. annual) |
42.5 % |
| Profits* ($ Millions) | 205.6 |
| Profit Growth (3-yr. avg. annual) | 298.4 % |
| Return on Inv. Capital (3-yr.) | 30.7 % |
| Share Price 12-Mo. Hi/Lo | 47/19 |
| Share Price As of 4/28/06 | 43 |
| Return on Equity | 34.3 % |
| P/E Ratio | 14 |
| No. of Employees | 149 |
| Industry | Oil & Gas Exploration & Production |
| CURRENT MARKET INFO | WTI > |
| COMPANY WEB SITE > | |
| Location | Houston |
| Phone | 713 626-8525 |
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat
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Company Snapshot
W&T Offshore engages in the acquisition, exploitation, and exploration of oil and natural gas, primarily in the Gulf of Mexico. As of Dec. 31, 2005, the company had working interests in 261 offshore structures, and in leases covering 932,000 acres across the outer continental shelf off the coast of Louisiana, Texas, Mississippi, and Alabama. As of the above date, W&T Offshore had proved reserves of 491.5 bcfe of oil and natural gas. The company was founded by Tracy Krohn and Jerome Freel in 1983. W&T Offshore is based in Houston.
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