Operational Updates | Capital Markets | Private Equity Activity
Clayton Williams Energy Provides Update on Eagle Ford Shale Drilling Activities
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Clayton Williams Energy, Inc. (the 'Company') (NASDAQ:CWEI)today provided an update on its Eagle Ford Shale drilling activities. The Company has drilled and completed the Smalley-Robinson Unit #1 in Burleson County, Texas, the second horizontal well drilled by the Company to test the Eagle Ford Shale formation which underlies most of the Company's extensive holdings in the Austin Chalk field in East Texas. The well was drilled to total vertical depth of 7,020 feet with a 5,500 foot lateral and was completed with a 13 stage frac. The well initially flowed at a rate of 492 barrels of oil per day, and the most recent production rate is 175 barrels of oil per day. The Company owns 100% working interest in the well and expects to incur approximately $3.3 million in drilling and completion…
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