UPDATE 1-W&T Offshore breaks even in Q3, tops Street

* Q3 adj shr $0.00 vs est loss $0.05

* Revenue down 42 pct

* Narrows FY total production outlook range

Nov 5 (Reuters) - Independent oil and natural gas company W&T Offshore Inc (WTI.N) reported better-than-expected quarterly results, helped by an increase in production, and narrowed its full-year total production outlook.

For the quarter, the company's loss was $1.3 million, or 2 cents a share, compared with net income of $78.2 million, or $1.02 a share, a year earlier.

Excluding items, the company broke even.

Revenue fell 42 percent to $167 million.

Analysts on average were expecting the company to post a loss of 5 cents a share, on revenue of $164.3 million, according to Thomson Reuters I/B/E/S.

Production rose 29 percent to 25.7 billion cubic feet equivalent (bcfe).