Tracy W. Krohn, born in 1963, is the founder and CEO of W&T Offshore, Inc. He has been leading the company since its inception in 1983, and over the years, he has gained extensive experience in the oil and gas...

Tracy W. Krohn, born in 1963, is the founder and CEO of W&T Offshore, Inc. He has been leading the company since its inception in 1983, and over the years, he has gained extensive experience in the oil and gas industry. Tracy earned a Bachelor's degree in Business Administration and later pursued a career in petroleum engineering. He previously worked for major players like Mobil Oil Corporation before starting W&T. Under his leadership, the company became one of the top independent oil and gas producers in the Gulf of Mexico. In 2023, his total compensation was around $1.75 million, with a significant focus on cash incentives based on performance metrics, reflecting the company's strategy to align executive pay with results. Tracy holds a considerable share of the company's stock, giving him significant control over its direction. Over the years, he has faced various market challenges, from fluctuating oil prices to the aftermath of hurricanes that impacted production. He’s also noted for using chartered aircraft for both business and personal travel, which has been a point of conversation in company discussions.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

W

Tracy W. Krohn

CEO of W&T Offshore

Field of Expertise

Business & Management

Sector of Economy

Energy

CEO of W&T Offshore for

20 years 0 months (May 2005 - Present)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Tracy W. Krohn

M

Joseph Wm. Foran

Founder and CEO of Matador Resources

2023 Compensation

Stock

$11.09M

Salary

$1.35M

Bonus

$3.11M

Other

$25.70K

Total Holdings

$26.93M

P

James H. Walter

CEO of Permian Resources

2023 Compensation

Stock

$0.00

Salary

$0.00

Bonus

$0.00

Other

$4.30K

Total Holdings

$163.30M

P

William M. Hickey III

CEO of Permian Resources

2023 Compensation

Stock

$15.00M

Salary

$0.00

Bonus

$0.00

Other

$0.00

Total Holdings

$166.35M

O

Brendan McCracken

CEO of Ovintiv

2023 Compensation

Stock

$3.86M

Salary

$1.10M

Bonus

$2.54M

Other

$407.55K

Total Holdings

$7.62M

A

John J. Christmann IV

CEO of APA Corporation

2023 Compensation

Stock

$0.00

Salary

$1.30M

Bonus

$0.00

Other

$611.30K

Total Holdings

$1.32M

Holdings

See how much did Tracy W. Krohn make over time.

Tracy W. Krohn holds a significant amount of stock in W&T Offshore, which gives him substantial control over the company. At one point, he controlled around 61.8% of the voting interests, showcasing a deep commitment to the firm's future. Over...

Tracy W. Krohn holds a significant amount of stock in W&T Offshore, which gives him substantial control over the company. At one point, he controlled around 61.8% of the voting interests, showcasing a deep commitment to the firm's future. Over the years, the value of his holdings has seen fluctuations, peaking significantly with W&T's growth in the oil sector. Currently, his stakes are valued in the hundreds of millions, reflecting the company's overall performance and market conditions. For example, in 2023, significant trading values showed variability, including a high of $354 million in late 2022, indicating investor confidence in the company's trajectory. Unlike typical patterns, some months saw values dip below $200 million, raising questions about market volatility and strategic decisions during uncertain times.

Charitable Transactions

WTI

232,702 shares

WTI

Recent Charitable Transactions

WTI

10,352 shares

WTI

Dec 21, 2012

Charity

WTI

94,456 shares

WTI

Nov 9, 2012

Charity

WTI

10,654 shares

WTI

Jul 18, 2012

Charity

WTI

29,949 shares

WTI

Jul 6, 2012

Charity

WTI

87,291 shares

WTI

Apr 5, 2012

Charity

WTI

27,225 shares

WTI

Dec 31, 2011

Charity

Insider Trading

See recent insider trades of Tracy W. Krohn.

WTI

$410.31K

WTI at $2.15/share

Jul 9, 2020

Purchase

WTI

$744.67K

WTI at $2.15/share

Jul 8, 2020

Purchase

WTI

$614.45K

WTI at $2.15/share

Jul 7, 2020

Purchase

WTI

$406.00K

WTI at $4.06/share

Aug 23, 2019

Purchase

WTI

$65.37K

WTI at $4.38/share

Aug 16, 2019

Purchase

WTI

$94.09K

WTI at $4.17/share

Aug 15, 2019

Purchase

WTI

$96.11K

WTI at $4.47/share

Aug 8, 2019

Purchase

WTI

$460.00K

WTI at $4.60/share

Jul 12, 2019

Purchase

WTI

$467.40K

WTI at $4.66/share

Jul 11, 2019

Purchase

WTI

$69.75K

WTI at $4.65/share

Jul 10, 2019

Purchase

Compensation History

See how much did Tracy W. Krohn make over time.

In 2023, Tracy W. Krohn received a compensation of approximately $1,748,280, primarily from his base salary of $800,000 and a bonus of $640,000. His bonus was linked to the achievement of specific performance goals, illustrating how W&T Offshore links pay to success. Notably, he didn't rely on stock options or vested stocks in recent years, focusing more on cash pay. This strategic choice emphasizes the company's aim to address immediate, measurable outcomes over long-term stock-based incentives. Throughout the years, his compensation levels have varied significantly, peaking at over $12 million in 2022, largely due to strong company performance. The company maintains an emphasis on aligning executive compensation with company metrics like production targets and financial efficiency, allowing Krohn to earn based on pushing company goals forward.

Year

2023

Total Compensation

$1.61M

Salary

$800.00K

Board Justification

The compensation philosophy is designed to align executive pay with company performance, focusing on cash incentives and long-term equity awards to retain talent and drive shareholder value.

Bonus

$640.00K

Board Justification

The bonus is based on the achievement of performance metrics set by the Compensation Committee for the fiscal year 2023.

Other

$174.83K

Board Justification

Other compensation includes contributions to the 401(k) plan and costs associated with personal aircraft usage prior to the changes in policy.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants vested in 2023 as the focus is on cash compensation and performance metrics for the year.

Performance Metrics

Performance metrics for 2023 included production targets, proved reserves, LOE and G&A expenses, ESG scores, cost control, and Adjusted EBITDA margin.