W&T Offshore amends credit facility

W&T Offshore Inc. (NYSE: WTI) has amended its existing revolving bank credit facility and modified certain covenants to enhance the company's financial flexibility.

As a result of the April semi-annual redetermination, the borrowing base under the bank credit facility was set at $600 million. As of March 31, W&T Offshore had $514 million drawn under the bank credit facility.

W&T Offshore is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and onshore in the Permian Basin of West Texas. 

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