Investor Presentaiton

HISTORY OF CREATING LONG-TERM VALUE FROM GOM ACQUISITIONS TOTAL $115 MM1 Paid out in Aug. 2011 Net average production (2) of 950 Boe/d from Matterhorn and Virgo NEWFIELD $206 MM1 Paid out in Nov. 2014 Net average production (2) of 1,774 Boe/d from 78 offshore blocks, 65 of which are in deepwater Reserves (3): 1P-5.6 Mmboe 2P 10.3 Mmboe Reserves (3): 1P 1.8 Mmboe 2P 5.1 Mmboe woodside $55 MM1 Investments Post Acquisition Paid out in Sep. 2019 Net average production (2) of 392 Boe/d from Neptune and 24 add'l blocks. One exploration well brought online in 2014 Reserves(3): 1P 2.1 Mmboe 2P 2.5 Mmboe Cobalt International Energy $17 MM1 Paid out in Aug. 2018 Net average production (2) of 276 Boe/d from Green Canyon 859,903, & 904 Marubeni ConocoPhillips $18 MM1 Paid out in Apr. 2021 Net average production (2) of 1,741 Boe/d from Garden Banks 783 & 784 (Magnolia Field) Reserves(3): 1P -0.2 Mmboe 2P 0.3 Mmboe Reserves (3): 1P 12.0 Mmboe 2P 20.8 Mmboe 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 $116 MM1 Paid out in Nov. 2012 Net average production (2) of 408 Boe/d from Tahoe and 6 other fields Reserves(3): Marubeni $61 MM1 Paid out in Oct. 2014 Net average production (2) of 2,154 Boe/d from Fairway Field CALLON PETROLEUM $83 MM1 Investments Post-Acquisition Net average production (2) of 445 Boe/d from Medusa and 12 other fields. Two exploration wells brought on production in 6/2015 1P 0.8 Mmboe 2P 1.4 Mmboe Reserves (3): 1P 14.5 Mmboe 2P 15.8 Mmboe Reserves (3): 1P 2.1 Mmboe 2P 3.7 Mmboe ExxonMobil $171 MM1 Chevron Paid out in Jan. 2022 Net average production (2) of 15,279 Boe/d. Potential to add incremental reserves with minimal capital by consolidating operations Reserves (3): 1P 76.1 Mmboe 2P 87.4 Mmboe ANKOF Undisclosed Private Seller $48 MM1 Paid out in Aug. 2022 Net average production (2) of 3,646 Boe/d. Acquired 100% working interest of operated assets, including over 50 producing wells Reserves(3) : 1P 4.8 Mmboe 2P 8.9 Mmboe 1) Purchase prices as of closing dates, which are often adjusted for normal and customary post-effective date adjustments 2) 4Q 2022 net average production; 3Q 2022 net average production used for Woodside acquisition because assets were shut -in during Q4, but back online in February 2023 3) Based on year-end 2022 reserve report at SEC pricing (1P Life) of $94.14/Bbl and $6.36/MMBtu 14 W&T OFFSHORE | NYSE:WTI W&T OFFSHORE

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