Exploration & Production | Capital Markets | Capital Expenditure | Private Equity Activity
Clayton Williams To Increase CapEx By $44M, Increase Drilling Cost
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Clayton Williams plan to spend approximately $429.3 million on exploration and development activities during fiscal 2012 as compared to our previous estimate of $384.6 million. Most of the $44.7 million increase in estimated expenditures relates to higher drilling and completion costs in the Delaware Basin due in part to our bearing a higher percentage of drilling and completion costs in wells in which Chesapeake elected not to participate for its 25% retained working interest. Our actual expenditures during 2012 may vary significantly from these estimates since our plans for exploration and development activities may change during the remainder of the year. Factors, such as changes in operating margins and the availability of capital resources, could increase or decrease our actual…
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