Investor Presentaiton

LEVERAGING FOUR DECADES OF GOM ACQUISITION EXPERTISE ACQUISITION OPPORTUNITIES GOM Exits Companies exiting the GOM provide a large inventory of accretive assets ACQUISITION CRITERIA Generating Free Cash Flow Strong current production rates with the opportunity to reduce operating expenses Asset Sales Majors moving to ultra-deepwater and companies monetizing GOM assets to fund onshore projects Financeable Large portion of reserve base is proved developed with solid probable/possible reserves Consolidation Opportunities Under-capitalized independents with sizeable undeveloped reserves 13 W&T OFFSHORE | NYSE:WTI Identified Upside Undrilled prospects, workover or recomplete opportunities, facility upgrades, secondary recovery projects Gulf of Mexico Provides an Attractive, Large Acquisition Opportunity Set W&T OFFSHORE

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