W&T Offshore, Inc. announced the pricing of its previously announced offering of $275 million in aggregate principal amount of 11.750% senior second lien notes due 2026 at par in a private offering that is exempt from registration under the Securities Act of 1933, as amended. The closing of the offering of the Notes is expected to occur on January 27, 2023, subject to customary closing conditions. The Company intends to use the net proceeds of the offering, along with cash on hand, to redeem all of the Company's 9.75% Senior Second Lien Notes due 2023.

On January 9, 2023, the Company delivered a conditional redemption notice with respect to $552.5 million in principal amount of the Existing Second Lien Notes. This announcement is not an offer to purchase or a solicitation of an offer to sell the Existing Second Lien Notes, and it does not constitute a notice of redemption of the Existing Second Lien Notes. The Notes and the related guarantees to be offered have not been registered under the Securities Act or any other securities laws, and the Notes and the related guarantees may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws.

The Notes and the related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in the United States under Rule 144A and to non-U.S. investors outside the United States pursuant to Regulation S.