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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
October 13, 2023
W&T Offshore, Inc.
(Exact name of registrant
as specified in its charter)
1-32414 |
(Commission
File Number) |
Texas |
|
72-1121985 |
(State
or Other Jurisdiction of
Incorporation) |
|
(IRS
Employer Identification No.) |
5718 Westheimer Road, Suite 700
Houston, Texas 77057
(Address of Principal Executive Offices)
713.626.8525
(Registrant’s Telephone
Number, Including Area Code)
N/A
(Former Name or Former Address, If Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading
Symbol |
|
Name of
each exchange on which registered |
Common Stock, par value $0.00001 |
|
WTI |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 1.01 Entry into a Material Definitive Agreement.
On October 13, 2023,
W&T Offshore Inc. (the “Company”), as buyer, entered into the First Amendment to Purchase and Sale Agreement (the “First
Amendment”) with Cox Oil Offshore, L.L.C., Energy XXI GOM, LLC, EPL Oil & Gas, LLC, MLCJR LLC, Cox Operating L.L.C., Energy
XXI Gulf Coast, LLC and M21K, LLC (collectively, “Seller”). The First Amendment, which became effective as of October 13,
2023, amends the Purchase and Sale Agreement (as defined in the First Amendment) to revise the definitions of (i) Designation Deadline
(as defined in the First Amendment) to 5:00 p.m., Central Time on October 19, 2023 and (ii) Outside Termination Date (as defined
in the First Amendment) to 5:00 p.m., Central Time on October 20, 2023.
The foregoing description
of the First Amendment and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference
to the full text of the First Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are
included as part of this Current Report on Form 8-K:
Exhibit
Number |
|
Description |
|
|
10.1 |
|
First Amendment to Purchase and Sale Agreement, dated October 13, 2023, by and among W&T Offshore, Inc., as buyer, and Cox Oil Offshore, L.L.C., Energy XXI GOM, LLC, EPL Oil & Gas, LLC, MLCJR LLC, Cox Operating L.L.C., Energy XXI Gulf Coast, LLC and M21K, LLC, as sellers |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
W&T OFFSHORE, INC.
(Registrant) |
|
|
|
Dated: October 18, 2023 |
By: |
/s/ Jonathan Curth |
|
Name: |
Jonathan Curth |
|
Title: |
Executive Vice President, General Counsel and Corporate Secretary |
Exhibit 10.1
FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
This First Amendment to Purchase
and Sale Agreement (this “Amendment”), dated as of October 13, 2023, is made and entered into by and among Cox
Oil Offshore, L.L.C., a Louisiana limited liability company, Energy XXI GOM, LLC, a Delaware limited liability company, EPL Oil &
Gas, LLC, a Delaware limited liability company, MLCJR LLC, a Texas limited liability company, Cox Operating L.L.C., a Louisiana limited
liability company, Energy XXI Gulf Coast, LLC, a Delaware limited liability company, M21K, LLC, a Delaware limited liability company (collectively,
“Seller”), and W&T Offshore, Inc., a Texas corporation (“Buyer”). Seller and Buyer may
be referred to collectively as the “Parties” or individually as a “Party.” Capitalized terms
used but not defined in this Amendment shall have the meanings given to such terms in the PSA (as hereinafter defined).
WHEREAS,
Seller and Buyer are parties to that certain Purchase and Sale Agreement dated as of September 26, 2023 (as amended by this Amendment
and as further amended from time to time, the “PSA”); and
WHEREAS,
the Parties desire to amend the PSA, as more specifically set forth in this Amendment.
NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows.
1. Definitions.
The following defined terms are deleted in their entirety and replaced with the following:
“Designation
Deadline” means 5:00 p.m. Central Time on October 19, 2023.
“Outside
Termination Date” means 5:00 p.m. Central Time on October 20, 2023.
2. Confirmation.
Except as otherwise provided herein, the provisions of the PSA shall remain in full force and effect in accordance with their respective
terms following the execution of this Amendment.
3. Conflicts.
The terms of this Amendment amend and supplement the terms and conditions of the PSA. If any provision of this Amendment is construed
to conflict with any provision of the PSA (except as otherwise expressly provided in this Amendment), the provisions of this Amendment
shall be deemed controlling to the extent of that conflict.
4. Entire
Agreement. This Amendment, the PSA, Exhibits and Schedules to the PSA, the Transaction Documents and the Confidentiality Agreement
collectively constitute the entire agreement between the Parties pertaining to the subject matter hereof and supersede all prior agreements,
understandings, negotiations, and discussions, whether oral or written, of the Parties pertaining to the subject matter hereof or thereof
except as specifically set forth herein or therein.
5. Incorporation.
The provisions of the following Sections of the PSA are hereby incorporated into this Amendment, mutatis mutandis: Sections 13.4,
16.1, 16.3, 16.4, 16.7, 16.8, 16.9, 16.10, 16.11, 16.13 and 16.17.
IN
WITNESS WHEREOF, the Parties have executed and delivered this Amendment as of the date first written above.
|
Seller: |
|
|
|
Cox oil
offshore, l.l.c. |
|
|
|
By: |
/s/ Ryan Omohundro |
|
Name: |
Ryan Omohundro |
|
Title: |
Chief Restructuring Officer |
|
ENERGY
XXI GOM, LLC |
|
|
|
By: |
/s/ Ryan Omohundro |
|
Name: |
Ryan Omohundro |
|
Title: |
Chief Restructuring Officer |
|
EPL OIL &
GAS, LLC |
|
|
|
By: |
/s/ Ryan Omohundro |
|
Name: |
Ryan Omohundro |
|
Title: |
Chief Restructuring Officer |
|
MLCJR LLC |
|
|
|
By: |
/s/ Ryan Omohundro |
|
Name: |
Ryan Omohundro |
|
Title: |
Chief Restructuring Officer |
|
|
|
Cox operating
l.l.c. |
|
|
|
By: |
/s/ Ryan Omohundro |
|
Name: |
Ryan Omohundro |
|
Title: |
Chief Restructuring Officer |
|
energy
xxi gulf coast, llc |
|
|
|
By: |
/s/ Ryan Omohundro |
|
Name: |
Ryan Omohundro |
|
Title: |
Chief Restructuring Officer |
|
|
|
m21k, llc |
|
|
|
By: |
/s/ Ryan Omohundro |
|
Name: |
Ryan Omohundro |
|
Title: |
Chief Restructuring Officer |
Signature
Page to Amendment to Purchase and Sale Agreement
|
Buyer: |
|
|
|
W&T
OFFSHORE, INC. |
|
|
|
By: |
/s/ Jonathan C. Curth |
|
Name: |
Jonathan C. Curth |
|
Title: |
Executive Vice President – General Counsel and Corporate Secretary |
Signature
Page to Amendment to Purchase and Sale Agreement
v3.23.3
Cover
|
Oct. 13, 2023 |
Cover [Abstract] |
|
Document Type |
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Amendment Flag |
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|
Document Period End Date |
Oct. 13, 2023
|
Entity File Number |
1-32414
|
Entity Registrant Name |
W&T Offshore, Inc.
|
Entity Central Index Key |
0001288403
|
Entity Tax Identification Number |
72-1121985
|
Entity Incorporation, State or Country Code |
TX
|
Entity Address, Address Line One |
5718 Westheimer Road
|
Entity Address, Address Line Two |
Suite 700
|
Entity Address, City or Town |
Houston
|
Entity Address, State or Province |
TX
|
Entity Address, Postal Zip Code |
77057
|
City Area Code |
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|
Local Phone Number |
626.8525
|
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|
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WTI
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NYSE
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W and T Offshore (NYSE:WTI)
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から 4 2024 まで 5 2024
W and T Offshore (NYSE:WTI)
過去 株価チャート
から 5 2023 まで 5 2024