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Clayton Williams Energy Announces First Quarter 2012 Financial Results

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Clayton Williams Energy, Inc. (the "Company") (NASDAQ:CWEI) today reported its financial results for the first quarter of 2012.

Financial Results for the First Quarter of 2012

Net income attributable to Company stockholders for the first quarter of 2012 ("1Q12") was $7.8 million, or $0.64 per share, as compared to a net loss of $7.9 million, or ($0.65) per share, for the first quarter of 2011 ("1Q11"). Cash flow from operations for 1Q12 was $52.3 million as compared to $33.3 million for 1Q11.

The key factors affecting the comparability of financial results for 1Q12 versus 1Q11 were:

Oil and gas sales increased $12.1 million in 1Q12 versus 1Q11. Price variances accounted for $8 million of the increase and production variances accounted for $3.3 million. Average realized oil prices were…
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