W&T production jumps 19% as Iran conflict drives oil to $91; ARO spending quadruples

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

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  Iran conflict disrupted Strait of Hormuz shipping in late February 2026, spiking WTI oil prices $27/barrel month-over-month to $91.38 in March. EIA now forecasts WTI peaking at $102/barrel in Q2 2026 versus prior-year forecast of $57/barrel for 2026.

  MD&A: Iran conflict and oil price spike verify on EDGAR →
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  Production rose 19% year-over-year to 3,259 MBoe in Q1 2026 as company restored West Delta 73, MO 916, and Main Pass 108 fields and reduced Mobile Bay downtime. Lease operating costs per barrel fell 22% to $20.29 on cost reduction efforts.

  MD&A: Production volumes and LOE verify on EDGAR →
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  Asset retirement obligation cash spending surged from $3.8M in Q1 2025 to $17.2M in Q1 2026, a fourfold increase signaling accelerated plugging and abandonment activity across the portfolio.

  MD&A: ARO spending verify on EDGAR →