Deepwater Portfolio Expansion and Upside Potential
SIGNIFICANT INCREASE IN
YEAR-END RESERVES AND PV-10
2P SEC
Oil
NGL
Gas
Reserve Category
(MMBbl)
(MMBbl)
(Bcf)
Total
(MMBoe)
%
Pre-Tax
Reserves¹
Liquids
PV10 ($MM)
Proved Developed Producing (PDP)
23.7
16.1
499.2
123.0
32.3% $
2,280.8
PDP
33%
245.8
MMBoe
50%
Proved Developed Non-Producing (PDNP)
7.5
1.5
76.8
21.8
41.3% $
457.6
PDNP
Proved Undeveloped (PUD)
9.5
1.3
58.6
20.5
52.4% $
390.2
PUD
8%
Total 1P Reserves (Excluding ARO)
40.6
18.9
634.6
165.3
36.0% $
3,128.6
PROB
9%
Probable Reserves (PROB)
38.1
7.2
211.4
80.5
56.2% $
1,779.8
Total 2P Reserves (Excluding ARO)
78.7
26.1
845.9
245.8
42.6% $
4,908.4
Possible Reserves (POSS)
52.9
7.8
Total 3P Reserves (Excluding ARO)
131.6
33.9
233.1
1,079.1
99.5
345.3
61.0% $
2,378.2
Natural Gas
57.4%
Liquids
42.6%
47.9% $
7,286.6
Est. PV10 of 1P ARO
$
(271.5)
Proved Reserve PV-101,2
$ in MM
$4,000
$3,000
$2,000
$1,622
$1,000
Proved Reserve 1,2
MMBoe
Up 93%
180.0
160.0
$3,129
Up 5%
165.3
157.6
140.0
120.0
100.0
YE2021
YE2022
YE2021
YE2022
1) Based on year-end 2022 reserve report at SEC pricing (1P Life) of $94.14/Bbl and $6.36/MMBtu
2) Pre-Tax PV-10 of year-end proved reserves is a non-GAAP financial measure
3) Pre-Tax PV-10 excluding Asset Retirement Obligations
15
W&T OFFSHORE | NYSE:WTI
2P Pre-Tax
PV-102,3
36%
$4,908
MM
46%
8%
9%
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