According to people with knowledge of the situation, W&T has hired Skadden, Arps, Slate, Meagher & Flom to conduct an internal investigation on their relationship with AAIT.
The offshore driller began the investigation after receiving a whistle-blower letter.
The people said that W&T's new chief information officer and general counsel collected laptops and information for the investigation. The people said that some employees got an email asking for all the materials related to IT.
Lawyers at Skadden have been interviewing W&T employees. Representatives at W&T and Skadden didn't reply to questions. AAIT declined to comment.
W&T said in its second-quarter filing that it could be hampered by cyberattacks and that its third-party IT service provider didn't align with industry practices.
The driller doesn't have any written agreements with its primary service provider W&T is currently remediating the identified issues, including hiring a new CIO.
According to a filing, the company's primary IT service provider plans to cease services by September 2. The end of services could affect the driller's ability to monitor production.
The company entered into agreements with its directors and officers on August 8. The people said that this will give W&T's officers and directors more protection if the company is sued.
The Securities and Exchange Commission is taking a closer look at how public companies manage their cybersecurity risks.
W&T was founded in 1983 by a man who spent a lot of time in the oil patch. It operates in the ocean.
In New York, shares fell a cent.
(Adds share price in last paragraph.)
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