Material Agreement - Form 8-K

Item 1.01 Entry into a Material Definitive Agreement.

On March 28, 2024, W&T Offshore, Inc. (together with its guarantor subsidiaries, the "Company") entered into a Sixteenth Amendment to the Sixth Amended and Restated Credit Agreement (the "Sixteenth Amendment") dated as of March 28, 2024, among the Company, certain of its guarantor subsidiaries, Alter Domus (US) LLC, as administrative agent, and certain of the Company's lenders and other parties thereto (as heretofore amended, the "Credit Agreement"). The Sixteenth Amendment, which became effective as of March 28, 2024, amends the Sixth Amended and Restated Credit Agreement dated as of October 18, 2018 to extend the maturity date from March 28, 2024 to April 30, 2024.

As of December 31, 2023, there were no borrowings outstanding under the Credit Agreement and no borrowings had been incurred under the Credit Agreement during the year ended December 31, 2023. As of December 31, 2023, the Company had $4.4 million outstanding in letters of credit which have been cash collateralized.

The foregoing description of the Sixteenth Amendment does not purport to be complete and is qualified in its entirety by reference to the Sixteenth Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.