Clayton Williams Energy, Inc., an independent oil and gas company, explores for, and develops and produces oil and natural gas primarily in Texas and New Mexico. The company's principal properties are located in the Permian Basin of West Texas and Southeastern New Mexico, as well as the Giddings Area in East Central Texas. As of December 31, 2015, it had estimated proved reserves of 46,569 thousand barrels of oil equivalent. The company also owns interests in and operates oil, natural gas, and water service facilities, which consist of approximately 393 miles of pipeline, 2 treating plants, 1 dehydration facility, and various wellhead type treating and/or compression stations located in the states of Texas. Clayton Williams Energy, Inc. was founded in 1991 and is headquartered in Midland, Texas.
Clayton Williams Energy Announces Agreement to Sell Giddings Area Assets for $400 Million and Adds Patrick Cooke as COO http://finance.yahoo.com/news/clayton-williams-energy-announces-agreement-201000565.html
Chart makes that 27% look a little deceptively positive. Stock went down the last 3 trading days but the 27% gain puts it just a few percent above where it was a few trading days ago. Still a nice bump for those who were long and eating losses the last few days.
Wow, I need to clean up my crystal ball. BRIEF-Noble energy to acquire Clayton Williams Energy n">Jan 16 Noble Energy Inc : * Noble Energy to acquire Clayton Williams Energy * Clayton Williams Energy shareholders will receive 2.7874 shares of co's common stock and $34.75 in cash for each share of common stock held * Noble Energy will acquire all of outstanding common stock of Clayton Williams Energy for $2.7 billion in Noble Energy stock and cash * Noble Energy intends to fund cash portion of acquisition through a draw on its revolving credit facility * Also anticipates retiring outstanding debt of Clayton Williams Energy assumed as part of transaction at or following closing * Retiring outstanding debt of Clayton Williams Energy,general,administrative cost elimination, to result in annual cost synergies of about $75 million * Outlook is to increase production on acquired assets from 10 MBoe/d currently (70% oil) to about 60 MBoe/d in 2020 in co's base plan * Anticipates incremental $150 million in reported 2017 capital to be allocated to Delaware basin * Funds managed by Ares Management, L.P., owning about 35% of Clayton Williams Energy's shares as of Dec 31, 2016, entered support agreement to vote in favor of deal * Following completion of deal, shareholders of Clayton Williams Energy are expected to own about 11% of outstanding shares of Noble Energy * Providing an update to its four-year operating plan (2016 - 2020E) * Updated four-year operating plan includes development of acquired acreage * Through ongoing portfolio management / optimization, Noble Energy anticipates co will generate in excess of $1 billion in proceeds in 2017
