10:48 AM EST, 01/29/2025 (MT Newswires) -- W&T Offshore ( WTI ) said Wednesday it has closed its offering of $350 million of 10.75% senior second lien notes due 2029 at par in a private offering.

The firm also said it entered into a credit agreement for a $50 million revolving credit facility through July 2028.

Additionally, W&T said it received $58.2 million of the previously disclosed $58.5 million insurance settlement related to the Mobile Bay 78-1 well, with the remainder expected shortly.