 HOUSTON, May 20, 2021 GLOBE NEWSWIRE -- WT Offshore, Inc. NYSE: WTI WT or the Company today announced that it has enhanced its capital structure by entering into a transaction with its wholly-owned special purpose vehicles the SPVs and Munich Re Reserve Risk Financing, Inc. MRRF. In this transaction, the Company transferred 100 of its Mobile Bay Area producing assets the Mobile Bay Assets and related gas treatment facilities to the SPVs in return for the net cash proceeds from a 215 million first-lien non-recourse term loan to the SPVs provided by MRRF. Through its 100 ownership in the SPVs, WT retains the upside value in the Mobile Bay Assets. 