W&T Offshore Inc..
WTI.US | Extraction of crude petroleum
W&T Offshore, Inc. is an independent oil and natural gas producer with operations focused in the Gulf of Mexico. The company explores for, develops, and produces crude oil and natural gas, both on the Outer Continental Shelf (OCS) of the Gulf of Mexico and in the inland and coastal waters along the ...Show More
Better Health for All
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The company's principal goods, oil and natural gas, cause severe, widespread health damage, and 100% of its revenue is derived from these products with well-established negative health outcomes. In terms of risk transparency, the company falsified at least six produced water samples
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and failed to report an oil sheen in 2009,
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leading to a guilty plea for violating the Clean Water Act and making false statements.
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Regarding health externalities, the company has incurred over $3.5 million in penalties from 34 environmental violations since 2000,
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including a $1 million water pollution violation in 2013
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and a $36,500 air pollution violation in 2024.
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While the company reduced its Scope 1 GHG emissions by 42% from 435,000 metric tons CO2-e in 2019
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to 325,000 metric tons CO2-e in 2023,
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the history of violations indicates significant health-harming externalities with partial remediation. The company's 2024 total recordable incident rate for employees was 0.00, below the 2023 industry average of 0.51;
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however, its products do not have direct safety implications for users. For most other health-related KPIs, the company's operations as an oil and natural gas producer are not directly applicable, and no relevant data was found.
Fair Money & Economic Opportunity
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W&T Offshore, Inc. is an independent oil and natural gas producer. The provided articles detail the company's operations, ESG initiatives, and financial performance within the oil and gas sector. There is no evidence in the articles or company description to suggest that W&T Offshore engages in financial services such as lending, insurance, or deposit services to consumers. Consequently, all Key Performance Indicators (KPIs) under the 'Fair Money & Economic Opportunity' value, which are designed for financial institutions, are not applicable to the company's core business model.
Fair Pay & Worker Respect
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The provided articles, including a 10-K filing summary, a code of business conduct, a sustainability report, and governance documents, do not contain specific quantitative or qualitative data points related to any of the 'Fair Pay & Worker Respect' KPIs. Information regarding living wage coverage, CEO-median pay ratio, collective bargaining share, safety incident rate, pay equity ratio, worker engagement score, turnover rate, labor violation incidents, insecure contract share, or health insurance coverage is not present.
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Fair Trade & Ethical Sourcing
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The company conducts third-party Safety and Environmental Management System (SEMS) audits every three years.
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It has reported no incidents of forced or child labor.
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The company strictly prohibits trafficking in persons or any form of slavery, including child labor, and has a Code of Business Conduct and Ethics and a Human Rights policy that outline these prohibitions and related procedures for reporting concerns. The Human Rights policy, adopted by the board in Q2 2022, requires employees, contractors, subcontractors, suppliers, and vendors to not engage in practices violating human rights, including forced or child labor.
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Honest & Fair Business
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The company's financial statements do not reflect the correction of an error to previously issued financial statements, nor are there any restatements that required a recovery analysis of incentive-based compensation.
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This indicates no recent financial restatements.
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Kind to Animals
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W&T Offshore, Inc. is an independent oil and natural gas producer.
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The provided article focuses on the company's financial performance, acquisitions, and general regulatory environment related to its core business. There is no information regarding animal testing, animal-derived products, animal agriculture, or specific, measurable wildlife conservation initiatives or animal welfare policy engagement. Consequently, no KPIs under the 'Kind to Animals' value can be scored based on the available evidence.
No War, No Weapons
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W&T Offshore, Inc. is an independent oil and natural gas producer with operations solely in the Gulf of Mexico (GOM) within the US
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. The company's core business and operations do not involve arms manufacturing, defense contracts, dual-use technologies, or any activities related to military or conflict zones. Consequently, there is no evidence of revenue from arms contracts, sales to embargoed regimes, or exposure to controversial weapons. The company also has no defense assets to divest, no exports requiring end-user certificates, and no procurement from conflict-affected areas.
Planet-Friendly Business
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W&T Offshore pled guilty in January 2013 to Clean Water Act violations from 2009, including falsifying at least six produced water samples and negligently discharging oil without reporting a visible sheen.
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This resulted in $700,000 in federal fines, $300,000 for community service, and 36 months probation.
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Respect for Cultures & Communities
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The provided articles do not contain specific, quantitative data or factual information relevant to any of the Key Performance Indicators for 'Respect for Cultures & Communities'. The available information includes details about a water pollution settlement
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and a list of corporate governance documents
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, but no evidence regarding community partnerships, local investment, cultural impact assessments, local employment, grievance mechanisms for community concerns, or cultural preservation efforts.
Safe & Smart Tech
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The company experienced an incident where 800 gigabytes of data were stolen, with leaks on the dark web and threats of further releases.
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W&T Offshore requires mandatory security training during new employee onboarding and annual security risk training.
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The company conducts vulnerability assessments and penetration testing.
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It maintains a cyber risk management program based on NIST, COBIT, and ISO 27001 standards
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and states compliance with various data privacy regulations.
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Zero Waste & Sustainable Products
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W&T Offshore's 2022 and 2023 Corporate Sustainability Reports, as summarized in recent articles, state that no specific regulatory actions, violations, fines, or compliance issues related to waste disposal were mentioned.
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This indicates no reported waste disposal violations for at least the past two years.
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