Investor Presentaiton

GOM DRILLING JOINT VENTURE Secured $361.4 MM commitment for the development of 14 pre-identified drill wells in the GOM with potential to upsize program over time with additional wells - Covers the total estimated cost of the 14 wells of $336 MM, plus contingency Drilled and completed ten wells through December 31, 2022 The most recent completion was the East Cameron 338/349 #1 (Cota well), which came online in March 2022 W&T initially receives 30% of the net revenues from the drilling program wells for contributing 20% of the capital expenditures plus associated leases and providing access to available infrastructure Upon private investors achieving certain return thresholds, W&T's share of each well's net revenue increases to 38.4% • HarbourVest Partners and Baker Hughes/GE are the two largest JV interest owners • Leverages BHGE's unique and flexible offering to potentially consolidate engineering, products and services and lower costs Allowed W&T to develop its high return drilling inventory at a faster pace with a greatly reduced capital outlay and maintain flexibility to make acquisitions and pay down debt ⚫ JV structure expands W&T's access to well capitalized investors 33 W&T OFFSHORE | NYSE:WTI Accelerates Development of High Return Inventory, Leverages Capital Dollars and Maintains Financial Flexibility W&T OFFSHORE

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