W&T Offshore Appoints Sameer Parasnis as Executive Vice President and Chief Financial Officer
22 Juin 2023 - 12:45PM
W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”)
today announced the appointment of Sameer Parasnis to the position
of Executive Vice President and Chief Financial Officer, effective
July 3, 2023. Mr. Parasnis will report to Tracy Krohn, W&T’s
Chairman and CEO.
Mr. Parasnis has 25 years of financial and
operational experience, of which 20 have been in banking. He has
advised companies in the Oil & Gas and Energy Transition
industry on equity capital markets, debt capital markets and
strategic M&A. Prior to joining W&T, Mr. Parasnis served as
Managing Director of Stifel Financial Corporation’s Energy &
Energy Transition team in Houston. He started his investment
banking career at Credit Suisse, where he worked for eight years
(inclusive of four years internationally) on several notable
domestic and international deals in the oil and gas industry,
including initial public offerings, debt high-yield offerings and
spinoffs. Mr. Parasnis began his career as a chemical engineer at
Reliance Industries Ltd. in 1996 and subsequently transitioned to
finance with Citigroup, following his MBA.
“We are excited to welcome Sameer to W&T’s
senior leadership team,” Tracy Krohn commented. “Sameer has served
as a trusted financial advisor to W&T over the years on key
strategic initiatives of the Company, including our drilling joint
venture and corporate debt refinancing in 2018, the non-recourse
term loan financing with Munich Re Reserve Risk Financing, Inc. in
2021 as well as our opportunistic At-The-Market equity offering in
2022. We are confident that his experience with both W&T’s
business and our senior management team will allow a smooth
transition into this new role,” Tracy added.
Mr. Parasnis is a graduate of the Institute of
Chemical Technology in Mumbai, India. He also earned a Master of
Business Administration from Southern Methodist University and a
Master’s in Finance from the London Business School.
About W&T Offshore
W&T Offshore, Inc. is an independent oil and
natural gas producer with operations offshore in the Gulf of
Mexico. As of March 31, 2023, the Company had working interests in
47 fields (39 in federal waters and eight in state waters). The
Company has under lease approximately 625,000 gross acres (457,000
net acres) spanning across the outer continental shelf off the
coasts of Louisiana, Texas, Mississippi and Alabama, with 8,000
gross acres in Alabama State waters, 458,000 gross acres on the
conventional shelf and 159,000 gross acres in the deepwater. A
majority of the Company’s daily production is derived from wells it
operates. For more information on W&T, please visit the
Company’s website at www.wtoffshore.com.
CONTACTS: Al
PetrieInvestor Relations
Coordinatorinvestorrelations@wtoffshore.com713-297-8024
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