HIGHBuilt-inGeographic
Gulf of America
“10-K Item 1: 'We are an independent oil and natural gas producer with substantially all our operations offshore in the Gulf of America.'”
WTI · Concentration risk · 10-K extracted
W&T Offshore (WTI) concentration risks
Updated
The most significant concentration W&T Offshore discloses is Gulf of America, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: W&T Offshore’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM2
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
33%
BP Products North America
“10-K Item 1: 'In 2025, BP Products North America and Shell Trading (US) Company accounted for 33% and 17%, respectively, of our revenues from sales of oil, NGLs and natural gas.'”
MEDIUMBuilt-inGeographic
Mobile Bay Properties
“10-K Item 1A: 'A significant portion of our production, revenue and cash flow is concentrated in our Mobile Bay Properties.'”
LOWOutside partyCustomer
17%
Shell Trading (US) Company
“10-K Item 1: 'In 2025, BP Products North America and Shell Trading (US) Company accounted for 33% and 17%, respectively, of our revenues from sales of oil, NGLs and natural gas.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06W&T Offshore's concentration risk is overwhelmingly structural rather than counterparty-driven. The company's operations are almost entirely offshore in the Gulf of America, with a significant share of production, revenue, and cash flow further concentrated within its Mobile Bay Properties — both geographic exposures tied to the basin itself rather than to any single buyer. Layered on top is customer concentration: BP Products North America accounted for 33% of revenues from oil, NGL, and natural gas sales, while Shell Trading (US) Company accounted for 17%. Together these two counterparties represent half of those product-line revenues, though both are disclosed as revenue shares rather than volume commitments. The structural exposures — the Gulf basin and Mobile Bay — are the harder-to-diversify piece, since they reflect where the company's assets physically sit, while the customer concentration is more a function of the marketing arrangements typical in oil and gas sales, where large refiners and traders often account for outsized shares of offtake. None of the disclosed customer exposures individually rises above a medium share, but the combination of basin-level structural concentration and counterparty dependency means a regional disruption in the Gulf could compound with a marketing-partner issue rather than offset it.
For the engine’s reasoning on WTI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Oil & Gas E&P
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BKV | BKV Corporation | 4 | 0 | 0 | 4 |
| CHRD | Chord Energy Corporation | 2 | 1 | 0 | 3 |
| WTI● | W&T Offshore, Inc. | 1 | 2 | 1 | 4 |
| BSM | Black Stone Minerals, L.P. | 1 | 1 | 1 | 3 |
| APA | APA Corporation | 0 | 0 | 0 | 0 |
| AR | Antero Resources Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.