Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Clayton Williams Energy Inc. (CWEI) is Focused on Producing Oil Domestically

Clayton Williams Energy, Inc. is an independent exploration and production company focused on developing and producing oil and natural gas. The company operates primarily in Texas, Louisiana and New Mexico, and has extensive experience utilizing 3-D seismic and horizontal drilling.

President and CEO Clayton W. Williams leads the company with more than a half a century of experience in the energy industry. Mr. Williams has also been involved in a broad spectrum of other business enterprises, including gas pipeline operations, ranching, real estate development and management, banking and telecommunications.

In recent news, the company announced that it plans to increase capital spending for the rest of the year in response to lower drilling and completion costs and higher oil prices. Clayton Williams Energy now plans to invest approximately $107.7 million in exploration and development activities instead of the previous estimate totaling approximately $78.5 million.

Clayton W. Williams, Jr., President commented, “Over the past several months, we have worked hard to lock in our drilling and completion costs. Since we can control costs more effectively by using our own drilling rigs and by entering into firm pricing arrangements with our service providers, we feel confident in our ability to carry out our current plan under existing market conditions.”

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *