W&T Offshore, Inc. (W&T) is an independent oil and natural gas producer, engaged in the acquisition, exploration and development of oil and natural gas properties primarily in the Gulf of Mexico and Texas. W&T has acquired rights to explore and develop new prospects and acquired existing oil and natural gas properties in both the deepwater and the deep shelf, while at the same time continuing its focus on the conventional shelf. As of December 31, 2011, the Company�s total proved reserves were 116.9 million barrels of oil equivalent. As of December 31, 2011, approximately 46% of its reserves were classified as proved developed producing, 19% as proved developed non-producing and 35% as proved undeveloped. Classified by product, its reserves as of December 31, 2011 were 44% oil, 15% natural gas liquids (NGLs) and 41% natural gas. In May 2011, the Company acquired various properties and leasehold interests in four counties in the Permian Basin of West Texas.