One of the stocks that investors could look into this morning is that of W&T Offshore (NYSE:WTI), which attracted attention on Monday and ended up with gains of as much as 9%.
There was no specific news about the company yesterday that might have triggered the rally but at the same time it might be a good idea to take a look at some developments from the recent past in order to get a better idea about W&T. Not too long ago, the stock had declined by as much as 30% from its top levels.
However, the decline in the stock had also taken place at a time when W&T had been successful in completing a key securitisation transaction. That transaction helped the company in pushing out debt maturities and in the process reduced the risks associated with refinancing in 2023.
On the other hand, things have also been looking up for W&T on the operational front. In the past, concerns had been raised with regards to risks associated with drilling on federal lands. However, it now appears that the concerns were overblown. It is now going to be interesting to see if investors continue to remain bullish with regards to the W&T stock.
See what other oil and gas investors have discovered in the energy field: Allied Energy Corp. (OTCMKTS:AGYP). AGYP is a gem because it is pumping oil from Texas and providing needed product as major suppliers are short in meeting demand in oil and gas. AGYP is different because it now produces barrels from proven well sites located on American soil.
