Market News / Story
W&T Offshore, Inc. (WTI) Converts $50M Revolver to RBL, Lifts Payout Flexibility
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W&T Offshore converted its $50M revolving credit facility to a conventional RBL, removing cash sweep, quarterly clean-down and asset coverage tests, and increasing restricted payments capacity 50% to $15M, with no pricing or covenant changes and no amendment fees. Material Details #DetailAI Analyst View1Converts $50M revolver to RBLAligns borrowing with reserves and eases liquidity constraints; can support growth and hedging.2Cash sweep and clean-down removedImproves…