W&T Offshore Q1 Production Up 19%, Adjusted EBITDA Rises 137%, $0.01 Dividend
WTI•W&T Offshore delivered Q1 2026 production of 36.2 MBoe/d (53% liquids), up 19% year-over-year, with Adjusted EBITDA up 137% to $54.5 million. The company cut LOE per Boe by 22% to $20.29, reported a $0.7 million adjusted net loss, and declared a Q2 dividend of $0.01 per share.
1. Operational Performance
W&T delivered 36.2 MBoe/d in Q1 2026, towards the high end of guidance and flat sequentially despite adverse weather, representing 19% year-over-year growth with liquids comprising 53% of volumes.
2. Financial Results
The company reported a net loss of $22.5 million ($0.15 per diluted share) and an adjusted net loss of $0.7 million, while Adjusted EBITDA surged 137% to $54.5 million and free cash flow reached $21.0 million.
3. Cost Management
Lease operating expenses fell to $66.1 million, reducing LOE per Boe by 22% year-over-year to $20.29, driven by cost savings and synergies from prior acquisitions.
4. Dividend Declaration
W&T paid its tenth consecutive quarterly dividend of $0.01 per share in March and declared a second-quarter dividend of $0.01 payable May 28 to stockholders of record on May 21, 2026.
