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XOP - W&T Offshore Looks Promising After De-Risking Event And Recent Correction
SPDR S&P Oil & Gas Explor & Product
The correction in energy stocks brought down W&T Offshore more than 30% from its recent top.
Interestingly, this coincided with a successful securitization transaction that pushed out debt maturities and significantly reduced W&T Offshore's refinancing risk in 2023.
The operational metrics have further improved, and we now see that the perceived risks to drilling on federal lands may also have been exaggerated.