W&T Offshore shares an update on its JV drilling program and plans to sell Permian interests for $56.8 million. W&T Offshore Inc. plans to sell overriding royalty interests in the Permian Basin for $56.8 million. The transaction is expected to close by October. Separately, the company successfully drilled an exploration well from the South Timbalier 311 platform that is part of the Ewing Bank 910 field. The ST 320 A-2 exploratory well reached total depth and is being prepared for completion. W&T logged about 163 feet of pay, exceeding pre-drill estimates. The well should be on production by the end of 2018. Following the completion of the ST 320 A-2 well, the rig will spud the ST 320 A-3 well, another exploration opportunity in the same field. Both wells are part of a drilling joint venture program created by W&T and private investors this year. Before these latest wells […]