Quarterly / Earnings Reports | Capital Markets | Private Equity Activity
Clayton Williams Talks $1MM Q2 Loss, TX Reserve Sale
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Clayton Williams Energy Inc. reported its financial results for the second quarter 2013.
Financial Results for the Second Quarter of 2013Net loss attributable to Company stockholders for the second quarter of 2013 (2Q13) was $1 million, or $0.08 per share, as compared to net income of $32.8 million, or $2.70 per share, for the second quarter of 2012 (2Q12).
Cash flow from operations for 2Q13 was $38.6 million as compared to $44.9 million for 2Q12. As discussed below, the 2Q13 results included a non-cash, pre-tax charge of $19.6 million to write down the carrying value of certain proved properties to their estimated fair value. The Company's adjusted net income, excluding the non-recurring charge, was $11.7 million.
For the six-months ended June 30, 2013, net loss attributable to Company…
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