Clayton Williams Energy announces 2015 results

Thursday, March 10, 2016      
 

Clayton Williams Energy, Inc. (NYSE: CWEI) today reported its financial results for the quarter and year ended December 31, 2015.

Fiscal 2015 Results

  • Oil and Gas Production of 15.8 MBOE/d
  • Adjusted Net Loss1 (non-GAAP) of $70.4 million
  • EBITDAX2 (non-GAAP) of $112.1 million

Year-End 2015 Reserves

  • Total Proved Reserves of 46.6 MMBOE
  • 61% of 2015 Production Replaced by Reserve Additions
  • 83% Oil and NGL and 78% Proved Developed

Recent Financing Transactions

  • New $350 million five-year 2nd lien term loan, fully funded at closing
  • Proceeds to repay outstanding balance on revolver
  • Reduces 1st lein bank facility to $100 million commitment
  • Provides a dedicated source of liquidity
  • Significantly eases financial covenants for three years


 

Article Tags

Clayton Williams Energy United States North America Finance


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


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