Clayton Williams Energy sell shale wells and acreage

Clayton Williams Energy Inc.

Clayton Williams Energy Inc. (NYSE:CWEI) has closed the sale of selected wells and leases in Wilson, Brazos, La Salle, Frio, and Robertson counties, Texas, for $71 million. The sold properties, which are situated outside the company’s core block of Austin Chalk and Eagle Ford acreage, accounted for approximately 5% of the company’s oil and gas production for the quarter ended Dec. 31, 2013 and approximately 2% of its total proved reserves at Dec. 31, 2013.

Net proceeds from the sale will be used to repay the outstanding balance on the company’s revolving bank credit facility and to fund a portion of its planned capital expenditures for 2014. The current borrowing base under the credit facility is unchanged at $415 million pending a scheduled redetermination to take effect on or prior to May 1, 2014.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...