W&T Offshore to draw on revolver for West Texas Permian Basin acres

By Toni Weeks

San Diego, April 26 - W&T Offshore, Inc. said it will use borrowings under its revolving credit facility along with cash on hand to fund the acquisition of 21,900 gross leasehold acres in the West Texas Permian Basin from private sellers, according to a press release.

The closing of the acquisition is anticipated in the second quarter.

W&T Offshore is a Houston-based independent oil and natural gas company.

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