W&T Offshore Q2 2007 Earnings Call Transcript

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2007-08-08 03:59:31.0

Tags: W & T Offshore Inc.

Question-and-Answer Session

Operator

Thank you sir. Ladies and gentlemen we will now begin the question and answer session. [Operator Instructions]. Our first question comes from the line of Jeff Robertson. Please take your company name followed by your question.

Jeffrey Robertson - Lehman Brothers

Lehman Brothers. Steve can you talk a little bit more about the pipeline outage at Main Pass and how long you all think if you know that that may be out. And did I hear correctly that that is not included in your guidance?

Stephen L. Schroeder - Senior Vice President and Chief Operating Officer

Yes, you heard correctly that it's not in our guidance. It's a third party pipeline that in fact last night they posted really the first significant detail that they have been assessing it ever since Friday and what it is, is a platform that has three pipelines that leave it. One of the pipelines that leave it ruptured was a 20-inch and then the other two, they are currently accessing those and should have those assessments done today on one of the other lines. The actual other assessment has been completed and it looks like that will be out after two to three weeks.

Jeffrey Robertson - Lehman Brothers

Okay, thank you.

Operator

Thank you sir. Our next question comes from the line of Neal Dingmann. Please state your company followed by your question.

Neal Dingmann - Dahlman Rose & Co.

Good morning, guys. Dahlman Rose. Say, Tracy, you just pointed out that you have good color, was wondering on -- some of the deferrals you had obviously was -- obviously some of that stuff was whether just stuff you can't control. But on the piping and different things beyond that, is there anything more you can do to I guess I don't want to say insure but to help so that we don't see as many deferrals?

Tracy W. Krohn - Founder, Chairman, Chief Executive Officer and President

Yes, thanks Neal. I think that most of whether the deferrals are behind us, I agree with you. I think some of them were equipment related as well. The deferrals at Green Canyon, Healy drilling what not are again nature related. We picked up some eddy currents there so that's going to push us back a little back with that portion of our drilling program but it looks like South Tim 299, Bay Junop, High Island 24 are going to be about where we thought we are going to be last time we provided guidance. Could slope a little bit in some of our planned maintenance. It's -- or planned construction, High Island 24, because of rain and the inability to occupying some of the processing structures we have to plan before we get them out. It's been raining a hell of a lot in South Texas. You might have noticed that, I am not quite sure I can give you much more guidance on that other than that we did have to place these structures forward, put them out there [indiscernible] but that... but again the rain is just a factor of South Texas being flooded and that's where these structures are being build. But you have the pipelines that are being laid now. So hopefully we get everything hooked up within a reasonable amount of time here.

 

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