W&T Offshore, Inc. (NYSE: WTI) today announced a sub-salt oil discovery at the "Dantzler" exploration prospect in the Deepwater Gulf of Mexico. The well is located on Mississippi Canyon block 782 in 6,580 feet of water and was drilled to a total depth of 19,234 feet. Wireline logging data indicates approximately 120 feet of net pay in two high-quality Miocene reservoirs which are primarily crude oil. W&T Offshore holds a 20% working interest in this well, which is operated by Noble Energy, Inc.
The Dantzler discovery is located roughly 12 miles west of W&T's previous discoveries at Big Bend and Troubadour in the Mississippi Canyon 698 and 699 blocks. The operator has provided discovered gross resource(1) estimates at Dantzler of between 55 and 95 million barrels of oil equivalent.
Tracy W. Krohn, W&T Offshore's Chairman and Chief Executive Officer, stated, "The discovery at Dantzler continues our string of successful deepwater exploration projects and provides us with another impact discovery to grow both our reserves and production in the Gulf of Mexico."
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 onshore in both the Permian Basin of West Texas and in East Texas. We have grown through acquisitions, exploration and development and currently hold working interests in approximately 71 offshore fields in federal and state waters (65 producing and six fields capable of producing). W&T currently has under lease over 1.4 million gross acres including over 710,000 gross acres on the Gulf of Mexico Shelf, over 480,000 gross acres in the deepwater and over 220,000 gross acres onshore in Texas. A substantial majority of our daily production is derived from wells we operate offshore.
