HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 30.Jun.2025, Words: 183) — W&T Offshore, Inc. said US magistrate judge Dena Palermo recommended denying 2 surety companies motions for preliminary injunction, through which they collectively asked for full monetization of over $100mn.
The court found the sureties failed to demonstrate they would suffer irreparable harm if their cash collateral demands were not granted, W&T announced on 30 Jun. 2025 in an official statement.
Key highlights relating to the ruling include:
— Sureties’ motion for preliminary injunction, which would have required W&T to immediately post collateral, was categorically recommended to be denied,
— Sureties failed to carry a clear burden of proof to establish irreparable harm necessary to obtain a preliminary injunction,
— ruling results in all current collateral requests by sureties being effectively nullified;
— W&T will not be required to post collateral (if at all) until a determination on the merits of the pending lawsuit with the remaining surety providers,
— the previously-announced settlement agreement, together with this favorable court ruling, represent significant positive outcomes for W&T.
____________________
By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
