Clayton Williams Energy Provides Update on Operations.MIDLAND, Texas Midland is the county seat of Midland CountyGR6 located on the Southern Plains of the western area of the U.S. State of Texas. As of the 2006 U.S. Census estimate, the city had a total population of 102,073. -- Clayton Williams Clayton Wheat Williams, Jr. (b. 1931), a businessman from Midland, Texas, was the unsuccessful Republican gubernatorial nominee in 1990 against the Democratic State Treasurer Dorothy Ann Willis Richards even though he initially led in opinion polls by twenty points. Energy, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CWEI CWEI Combat Warfare Electronic Intelligence ) today provided an update on its exploration and development activities by area. South Louisiana The Company today announced that it will drill an 18,500-foot exploratory test well in the Bayou Sale field on its Liger li·ger n. The product of crossbreeding between a male lion and a female tiger, having features of both but generally being larger than either. [li(on) + (ti)ger.] Noun 1. Prospect in St. Mary Parish, Louisiana St. Mary Parish (French: Paroisse de Sainte-Marie) is a parish located in the U.S. state of Louisiana. The parish seat is Franklin. As of 2000, the population was 53,500. Two prominent politicians have come from St. Mary Parish in recent years. . The Company expects to spud the well in the first quarter of 2009 targeting the lower Miocene sands. The cost to drill the well to total depth is estimated to be approximately $12 million (net to the Company's interest). The Company and BP Americas, Inc. will each own a 50% working interest in any production established by this well. East Texas Bossier Bossier may refer to:
The Company is currently completing the Sunny Unit #1, a 17,300-foot exploratory well in Burleson County, Texas Burleson County is a county located in the U.S. state of Texas. It is part of the College Station-Bryan Metropolitan Statistical Area. As of 2000, the population is 16,470. Its county seat is Caldwell6. . The well was successfully drilled to the Deep Bossier formation, and completion is being attempted in the middle Bossier sands. Should the middle Bossier sands prove unproductive, additional potential sands have been identified in uphole zones. The Sunny Unit #1 was drilled on a 3D-defined prospect that is on trend to and 20 miles southwest of the Company's Lee Fazzino #2 well which has produced 34.6 Bcf of natural gas since first production in 2001. To date, the Company has incurred drilling and completion costs of approximately $13.3 million on this well (100% working interest). Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas. Except for historical information, statements made in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are subject to a wide range of business risks and uncertainties, and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, production variance from expectations, volatility of oil and gas prices, the need to develop and replace reserves, the substantial capital expenditures required to fund operations, exploration risks, uncertainties about estimates of reserves, competition, government regulation, costs and results of drilling new projects, and mechanical and other inherent risks associated with oil and gas production. These risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements. |
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