Intrinsic value of W&T Offshore - WTI

Previous Close

$6.10

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$6.10

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

We calculate the intrinsic value of WTI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  21.30
  19.67
  18.20
  16.88
  15.69
  14.62
  13.66
  12.80
  12.02
  11.31
  10.68
  10.12
  9.60
  9.14
  8.73
  8.36
  8.02
  7.72
  7.45
  7.20
  6.98
  6.78
  6.61
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
Revenue, $m
  591
  707
  836
  977
  1,130
  1,295
  1,472
  1,661
  1,860
  2,071
  2,292
  2,524
  2,767
  3,019
  3,283
  3,557
  3,843
  4,139
  4,448
  4,768
  5,101
  5,447
  5,806
  6,181
  6,570
  6,975
  7,398
  7,838
  8,296
  8,775
Variable operating expenses, $m
  1,075
  1,286
  1,520
  1,777
  2,056
  2,356
  2,678
  3,021
  3,384
  3,767
  4,170
  4,591
  5,032
  5,492
  5,972
  6,471
  6,990
  7,529
  8,090
  8,673
  9,278
  9,908
  10,562
  11,243
  11,951
  12,688
  13,456
  14,257
  15,091
  15,962
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,075
  1,286
  1,520
  1,777
  2,056
  2,356
  2,678
  3,021
  3,384
  3,767
  4,170
  4,591
  5,032
  5,492
  5,972
  6,471
  6,990
  7,529
  8,090
  8,673
  9,278
  9,908
  10,562
  11,243
  11,951
  12,688
  13,456
  14,257
  15,091
  15,962
Operating income, $m
  -484
  -579
  -684
  -800
  -926
  -1,061
  -1,206
  -1,360
  -1,524
  -1,696
  -1,877
  -2,067
  -2,266
  -2,473
  -2,689
  -2,913
  -3,147
  -3,390
  -3,643
  -3,905
  -4,177
  -4,461
  -4,755
  -5,062
  -5,381
  -5,713
  -6,059
  -6,419
  -6,795
  -7,187
EBITDA, $m
  -347
  -416
  -491
  -574
  -664
  -761
  -866
  -976
  -1,094
  -1,217
  -1,347
  -1,484
  -1,626
  -1,775
  -1,930
  -2,091
  -2,259
  -2,433
  -2,614
  -2,803
  -2,998
  -3,202
  -3,413
  -3,633
  -3,862
  -4,100
  -4,348
  -4,607
  -4,877
  -5,158
Interest expense (income), $m
  97
  54
  27
  38
  49
  62
  76
  91
  107
  124
  142
  161
  181
  202
  224
  247
  271
  296
  321
  348
  376
  405
  435
  467
  499
  533
  568
  605
  643
  683
  724
Earnings before tax, $m
  -537
  -606
  -722
  -849
  -988
  -1,137
  -1,297
  -1,467
  -1,648
  -1,838
  -2,038
  -2,248
  -2,468
  -2,697
  -2,936
  -3,184
  -3,443
  -3,711
  -3,991
  -4,281
  -4,583
  -4,896
  -5,222
  -5,561
  -5,914
  -6,281
  -6,664
  -7,062
  -7,478
  -7,911
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -537
  -606
  -722
  -849
  -988
  -1,137
  -1,297
  -1,467
  -1,648
  -1,838
  -2,038
  -2,248
  -2,468
  -2,697
  -2,936
  -3,184
  -3,443
  -3,711
  -3,991
  -4,281
  -4,583
  -4,896
  -5,222
  -5,561
  -5,914
  -6,281
  -6,664
  -7,062
  -7,478
  -7,911

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,100
  1,317
  1,556
  1,819
  2,105
  2,412
  2,742
  3,093
  3,465
  3,857
  4,269
  4,700
  5,152
  5,623
  6,114
  6,625
  7,156
  7,708
  8,282
  8,879
  9,498
  10,143
  10,813
  11,510
  12,235
  12,990
  13,776
  14,595
  15,450
  16,341
Adjusted assets (=assets-cash), $m
  1,100
  1,317
  1,556
  1,819
  2,105
  2,412
  2,742
  3,093
  3,465
  3,857
  4,269
  4,700
  5,152
  5,623
  6,114
  6,625
  7,156
  7,708
  8,282
  8,879
  9,498
  10,143
  10,813
  11,510
  12,235
  12,990
  13,776
  14,595
  15,450
  16,341
Revenue / Adjusted assets
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
  0.537
Average production assets, $m
  683
  817
  966
  1,129
  1,307
  1,498
  1,702
  1,920
  2,151
  2,394
  2,650
  2,918
  3,198
  3,491
  3,795
  4,112
  4,442
  4,785
  5,141
  5,512
  5,896
  6,296
  6,712
  7,145
  7,595
  8,064
  8,552
  9,060
  9,591
  10,144
Working capital, $m
  -65
  -78
  -92
  -107
  -124
  -143
  -162
  -183
  -205
  -228
  -252
  -278
  -304
  -332
  -361
  -391
  -423
  -455
  -489
  -524
  -561
  -599
  -639
  -680
  -723
  -767
  -814
  -862
  -913
  -965
Total debt, $m
  501
  696
  912
  1,148
  1,405
  1,682
  1,979
  2,295
  2,629
  2,982
  3,353
  3,741
  4,148
  4,572
  5,013
  5,473
  5,951
  6,448
  6,965
  7,502
  8,060
  8,639
  9,242
  9,870
  10,522
  11,202
  11,909
  12,647
  13,416
  14,218
Total liabilities, $m
  990
  1,185
  1,401
  1,637
  1,894
  2,171
  2,468
  2,784
  3,118
  3,471
  3,842
  4,230
  4,637
  5,061
  5,502
  5,962
  6,440
  6,937
  7,454
  7,991
  8,549
  9,129
  9,731
  10,359
  11,011
  11,691
  12,398
  13,136
  13,905
  14,707
Total equity, $m
  110
  132
  156
  182
  210
  241
  274
  309
  346
  386
  427
  470
  515
  562
  611
  662
  716
  771
  828
  888
  950
  1,014
  1,081
  1,151
  1,223
  1,299
  1,378
  1,460
  1,545
  1,634
Total liabilities and equity, $m
  1,100
  1,317
  1,557
  1,819
  2,104
  2,412
  2,742
  3,093
  3,464
  3,857
  4,269
  4,700
  5,152
  5,623
  6,113
  6,624
  7,156
  7,708
  8,282
  8,879
  9,499
  10,143
  10,812
  11,510
  12,234
  12,990
  13,776
  14,596
  15,450
  16,341
Debt-to-equity ratio
  4.560
  5.290
  5.860
  6.310
  6.680
  6.970
  7.220
  7.420
  7.590
  7.730
  7.850
  7.960
  8.050
  8.130
  8.200
  8.260
  8.320
  8.370
  8.410
  8.450
  8.490
  8.520
  8.550
  8.580
  8.600
  8.620
  8.650
  8.660
  8.680
  8.700
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -537
  -606
  -722
  -849
  -988
  -1,137
  -1,297
  -1,467
  -1,648
  -1,838
  -2,038
  -2,248
  -2,468
  -2,697
  -2,936
  -3,184
  -3,443
  -3,711
  -3,991
  -4,281
  -4,583
  -4,896
  -5,222
  -5,561
  -5,914
  -6,281
  -6,664
  -7,062
  -7,478
  -7,911
Depreciation, amort., depletion, $m
  137
  163
  193
  226
  261
  300
  340
  384
  430
  479
  530
  584
  640
  698
  759
  822
  888
  957
  1,028
  1,102
  1,179
  1,259
  1,342
  1,429
  1,519
  1,613
  1,710
  1,812
  1,918
  2,029
Funds from operations, $m
  -401
  -443
  -529
  -623
  -726
  -837
  -956
  -1,083
  -1,217
  -1,359
  -1,508
  -1,665
  -1,828
  -1,999
  -2,177
  -2,362
  -2,554
  -2,754
  -2,962
  -3,179
  -3,403
  -3,637
  -3,880
  -4,132
  -4,395
  -4,668
  -4,953
  -5,250
  -5,560
  -5,882
Change in working capital, $m
  -11
  -13
  -14
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -24
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -46
  -48
  -50
  -53
Cash from operations, $m
  -389
  -430
  -515
  -608
  -709
  -819
  -937
  -1,062
  -1,196
  -1,336
  -1,484
  -1,639
  -1,802
  -1,971
  -2,148
  -2,332
  -2,523
  -2,722
  -2,929
  -3,143
  -3,367
  -3,599
  -3,840
  -4,091
  -4,352
  -4,624
  -4,907
  -5,202
  -5,509
  -5,830
Maintenance CAPEX, $m
  -113
  -137
  -163
  -193
  -226
  -261
  -300
  -340
  -384
  -430
  -479
  -530
  -584
  -640
  -698
  -759
  -822
  -888
  -957
  -1,028
  -1,102
  -1,179
  -1,259
  -1,342
  -1,429
  -1,519
  -1,613
  -1,710
  -1,812
  -1,918
New CAPEX, $m
  -120
  -134
  -149
  -163
  -177
  -191
  -205
  -218
  -231
  -243
  -256
  -268
  -280
  -292
  -305
  -317
  -330
  -343
  -356
  -370
  -385
  -400
  -416
  -433
  -450
  -469
  -488
  -509
  -530
  -553
Cash from investing activities, $m
  -233
  -271
  -312
  -356
  -403
  -452
  -505
  -558
  -615
  -673
  -735
  -798
  -864
  -932
  -1,003
  -1,076
  -1,152
  -1,231
  -1,313
  -1,398
  -1,487
  -1,579
  -1,675
  -1,775
  -1,879
  -1,988
  -2,101
  -2,219
  -2,342
  -2,471
Free cash flow, $m
  -622
  -701
  -827
  -964
  -1,113
  -1,272
  -1,441
  -1,621
  -1,810
  -2,010
  -2,219
  -2,437
  -2,665
  -2,903
  -3,150
  -3,408
  -3,675
  -3,953
  -4,242
  -4,542
  -4,854
  -5,178
  -5,515
  -5,866
  -6,231
  -6,611
  -7,008
  -7,421
  -7,851
  -8,301
Issuance/(repayment) of debt, $m
  -491
  195
  216
  236
  257
  277
  297
  316
  334
  353
  371
  389
  406
  424
  442
  460
  478
  497
  517
  537
  558
  580
  603
  627
  653
  679
  708
  737
  769
  802
Issuance/(repurchase) of shares, $m
  1,221
  628
  746
  876
  1,016
  1,168
  1,330
  1,502
  1,685
  1,877
  2,080
  2,291
  2,513
  2,744
  2,985
  3,235
  3,496
  3,767
  4,048
  4,341
  4,645
  4,960
  5,289
  5,631
  5,986
  6,357
  6,742
  7,144
  7,563
  8,000
Cash from financing (excl. dividends), $m  
  730
  823
  962
  1,112
  1,273
  1,445
  1,627
  1,818
  2,019
  2,230
  2,451
  2,680
  2,919
  3,168
  3,427
  3,695
  3,974
  4,264
  4,565
  4,878
  5,203
  5,540
  5,892
  6,258
  6,639
  7,036
  7,450
  7,881
  8,332
  8,802
Total cash flow (excl. dividends), $m
  108
  122
  135
  148
  161
  173
  185
  197
  209
  220
  232
  243
  254
  265
  276
  287
  299
  311
  323
  335
  349
  362
  377
  392
  408
  425
  442
  461
  480
  501
Retained Cash Flow (-), $m
  -1,221
  -628
  -746
  -876
  -1,016
  -1,168
  -1,330
  -1,502
  -1,685
  -1,877
  -2,080
  -2,291
  -2,513
  -2,744
  -2,985
  -3,235
  -3,496
  -3,767
  -4,048
  -4,341
  -4,645
  -4,960
  -5,289
  -5,631
  -5,986
  -6,357
  -6,742
  -7,144
  -7,563
  -8,000
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -1,113
  -506
  -611
  -728
  -856
  -995
  -1,144
  -1,305
  -1,476
  -1,657
  -1,848
  -2,049
  -2,259
  -2,479
  -2,709
  -2,948
  -3,197
  -3,456
  -3,725
  -4,005
  -4,296
  -4,598
  -4,912
  -5,239
  -5,578
  -5,932
  -6,300
  -6,683
  -7,083
  -7,499
Discount rate, %
  13.30
  13.97
  14.66
  15.40
  16.17
  16.97
  17.82
  18.71
  19.65
  20.63
  21.66
  22.75
  23.88
  25.08
  26.33
  27.65
  29.03
  30.48
  32.01
  33.61
  35.29
  37.05
  38.91
  40.85
  42.89
  45.04
  47.29
  49.65
  52.14
  54.74
PV of cash for distribution, $m
  -982
  -390
  -405
  -410
  -404
  -388
  -363
  -331
  -294
  -254
  -214
  -175
  -140
  -108
  -81
  -59
  -42
  -29
  -19
  -12
  -8
  -4
  -3
  -1
  -1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  7.5
  1.1
  0.2
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama. Its producing fields are located in federal and state waters in the Gulf of Mexico in water depths ranging from less than 10 feet up to 7,300 feet. Its fields include Ship Shoal 349 Field (Mahogany), Fairway Field, Viosca Knoll 783 Field (Viosca Knoll 783 (Tahoe) and Viosca Knoll 784 (SE Tahoe)), Mississippi Canyon 782 Field (Dantzler), Mississippi Canyon 698 Field (Big Bend), Mississippi Canyon 243 Field (Matterhorn), Ewing Bank 910, Brazos A-133 Field and Viosca Knoll 823 Field (Virgo).

FINANCIAL RATIOS  of  W&T Offshore (WTI)

Valuation Ratios
P/E Ratio -3.4
Price to Sales 2.1
Price to Book -1.3
Price to Tangible Book
Price to Cash Flow 60
Price to Free Cash Flow -24
Growth Rates
Sales Growth Rate -21.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -78.8%
Cap. Spend. - 3 Yr. Gr. Rate -38.4%
Financial Strength
Quick Ratio 9
Current Ratio 0
LT Debt to Equity -153.7%
Total Debt to Equity -154.9%
Interest Coverage -2
Management Effectiveness
Return On Assets -16.3%
Ret/ On Assets - 3 Yr. Avg. -21.4%
Return On Total Capital -48.2%
Ret/ On T. Cap. - 3 Yr. Avg. -43.8%
Return On Equity 42%
Return On Equity - 3 Yr. Avg. 4111.3%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 99.5%
Gross Margin - 3 Yr. Avg. 99.4%
EBITDA Margin 4.3%
EBITDA Margin - 3 Yr. Avg. -28.5%
Operating Margin -51.8%
Oper. Margin - 3 Yr. Avg. -90.4%
Pre-Tax Margin -73%
Pre-Tax Margin - 3 Yr. Avg. -106.9%
Net Profit Margin -62.3%
Net Profit Margin - 3 Yr. Avg. -89.9%
Effective Tax Rate 14.7%
Eff/ Tax Rate - 3 Yr. Avg. 18.7%
Payout Ratio 0%

WTI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WTI stock intrinsic value calculation we used $487.096 million for the last fiscal year's total revenue generated by W&T Offshore. The default revenue input number comes from 0001 income statement of W&T Offshore. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WTI stock valuation model: a) initial revenue growth rate of 21.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.3%, whose default value for WTI is calculated based on our internal credit rating of W&T Offshore, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of W&T Offshore.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WTI stock the variable cost ratio is equal to 181.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for WTI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for W&T Offshore.

Corporate tax rate of 27% is the nominal tax rate for W&T Offshore. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WTI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WTI are equal to 115.6%.

Life of production assets of 3.6 years is the average useful life of capital assets used in W&T Offshore operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WTI is equal to -11%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-573.508 million for W&T Offshore - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 139.154 million for W&T Offshore is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of W&T Offshore at the current share price and the inputted number of shares is $0.8 billion.

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COMPANY NEWS

▶ W&T Offshore Announces Executive Management Changes   [Nov-06-18 04:30PM  PR Newswire]
▶ W&T: 3Q Earnings Snapshot   [07:34PM  Associated Press]
▶ MARKETS: Crude oil jumps after Sinopec capitulates on Iran sanctions   [Sep-28-18 01:32PM  Yahoo Finance Video]
▶ Crude Oil Prices Dodge the Emerging Markets Bullet   [Sep-06-18 01:11PM  TheStreet.com]
▶ W&T Offshore to Participate in Upcoming Conferences   [Aug-28-18 04:15PM  PR Newswire]
▶ CRYPTO: Winklevoss twins step up bitcoin policing   [Aug-20-18 04:54PM  Yahoo Finance Video]
▶ Houston energy companies announce CFO changes   [Aug-17-18 02:11PM  American City Business Journals]
▶ CRYPTO: Here's why bitcoin and ether are dropping   [Aug-14-18 02:40PM  Yahoo Finance Video]
▶ 10 Ways to Play Rising Energy   [Aug-10-18 01:50PM  Investopedia]
▶ W&T: 2Q Earnings Snapshot   [05:07AM  Associated Press]
▶ How I'm Playing the Oil Sector Right Now   [Jul-31-18 11:29AM  TheStreet.com]
▶ Is Oil Signaling a Bullish Turning Point?   [03:48AM  Investopedia]
▶ Brent premium over WTI hits new three-year high   [Jun-01-18 10:08AM  Reuters]
▶ There's No Reason to Call a Top in the Oil Sector   [May-09-18 11:00AM  TheStreet.com]
▶ Warren Buffett: Why we sold shares in Phillips 66   [May-05-18 03:21PM  Yahoo Finance Video]
▶ W&T: 1Q Earnings Snapshot   [May-02-18 06:54PM  Associated Press]

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