The W&T Offshore Inc (NYSE:WTI) stock has been one of the better performers from among energy stocks so far this year and it might be the right time for investors to start taking a looking into it.
Over the course of the year so far, the stock has delivered gains of as much as 41% and much of that was possibly driven by a securitization transaction that had been successfully completed by the company not too long ago. The transaction was an important one since it not only pushed the debt maturities out but also helped in cutting down on the company’s refinancing risk in 2023.
In addition to that, the situation with regards to the operational metrics has also important significantly for the company. For instance, there had been a lot of talk about the potential risks about drilling on federal lands but it now seems that the threat of that risk had been overblown.
Hence, it is no surprise that there are strong bullish sentiments with regards to the W&T Offshore stock at this point in time among many investors. It might now be a good idea for investors to keep an eye on the stock over the coming days.
If investors are bullish on oil, it may be prudent to seek securities in the sector with positive press. Investors looking for energy securities with positive momentum may want to look at Allied Energy Corp. (OTCMKTS:AGYP) an oil and gas independent that is now pumping oil from proven wells on several Texas leased sites. Get on the inside early as AGYP has literally just struck oil.
