W&T Offshore Inc. Q3 2007 Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2007-11-07 12:13:15.0

Tags: W & T Offshore Inc.

Question-and-Answer Session

Operator

Thank you very much. Ladies and gentlemen, at this time we will now begin the question and answer session. (Operator Instructions)

Our first question comes from the line of Neal Dingmann with Dahlman Rose. Please go ahead at this time.

Jason Wangler - Dahlman Rose

Good morning, this is Jason Wangler for Neal. Just wondering, you kind of laid out a pretty good activity as far as well drilling going into ?08. Are you looking to get any more rigs during that time, or are you pretty set as far as your rig count right now?

Tracy Krohn

Good morning Neal. The short answer is yes, we are looking to get more rigs, primarily the jack-up rigs and platform rigs.

Jason Wangler - Dahlman Rose

Okay, and then just one other question is just, your costs kind of starting to move down a little bit now that Kerr-McGee is behind you. Do you see that going forward a little bit more, or is that kind of all the way through, and will we see it pretty much stabilize where it’s at?

Tracy Krohn

Well, that’s really a tough question to answer. I think that, intuitively, I think yes, but again, that’s going to be a function of commodity pricing going forward, and rig availability. And again, the driver in that market is always drilling rig cost, day rate cost, and also how many workovers that we’ll end up doing, not only from our own account, but that come to us from outside operated events.

Jason Wangler - Dahlman Rose

Thank you. And last question is, do you have enough infrastructure already for the next 50 wells going into ?08, or is there going to have to be more built up?

Tracy Krohn

Short answer to that is yes.

Jason Wangler - Dahlman Rose

Short answer is yes. Okay great, I’ll turn it back.

Operator

And our next question comes from the line of John White with Bleichroeder. Please go ahead at this time.

John White - Natexis Bleichroeder

Good morning everybody. I understood you’ll drill 50 wells between now and the end of 2008. Could you tell me again, how many you plan to have drilled by the end of ?07. I missed that.

Tracy Krohn

Actually, what I said John, was from the date of our last announcement, which was our last earnings conference call. It just really is a function of how quick we can get wells and rigs on location. But I expect we’ll have about 10, either drilled or drilling, additional to what we’ve drilled so far, by the end of the year.

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement