Clayton Williams Energy Announces South Louisiana Well Tests and 3-D Seismic Agreements

Apr 03, 2001, 01:00 ET from Clayton Williams Energy, Inc.

    MIDLAND, Texas, April 3 /PRNewswire/ --
 Clayton Williams Energy, Inc. (Nasdaq:   CWEI) announced today that it has
 completed and tested three Miocene wells in Plaquemines Parish, Louisiana, and
 the following production information was obtained from limited well tests:
 
     --  State Lease 16710 #1 -- tested at 1.854 MMcf per day and 65 barrels
         of oil per day on an 11/64" choke with 3,053 psi flowing tubing
         pressure.  Once the well is connected to a pipeline, the Company
         expects to produce the well initially at 2.0 MMcf per day along with
         the associated oil production.
     --  Calvin Encalade #1 -- tested at 2.414 MMcf per day and 120 barrels of
         oil per day on an 11.5/64" choke with 3,682 psi flowing tubing
         pressure from 4 feet out of a possible 34 feet of total pay.  The
         initial production rate from this 4 feet of pay is expected to be
         5.0 MMcf per day and 230 barrels of oil per day once a pipeline
         hookup is made.  The well has 14 feet of pay immediately up the hole
         that may, if tests warrant, be completed and produced after the
         depletion of this lower zone.
     --  State Lease 16847 #1 -- a dual completion, tested at a combined rate
         of 3.946 MMcf per day on a 12/64" choke with 2,330 and 2,360 psi
         flowing tubing pressures.  The Company expects to initially produce
         the well at 4.0 MMcf per day after pipeline hookup.
 
     The combined production rate from these wells is expected to be
 approximately 11.0 MMcf per day and 300 barrels of oil per day.  The Company
 is in the process of permitting for completion of production facilities and
 anticipates having these wells online and producing by September of this year.
 The Company plans to drill 15 wells in Plaquemines Parish during the remainder
 of 2001.  All of the Company's properties in this area have been identified by
 3-D seismic.
     To capitalize on this exploratory success and to significantly expand its
 presence in South Louisiana, the Company has recently completed agreements to
 acquire a license for, and evaluate, approximately 3,400 square miles of 3-D
 seismic data at an initial acquisition cost of $7,500,000.  The Company
 believes that these agreements will increase its exposure to high quality, 3-D
 seismic technology driven prospects.
     Clayton Williams Energy, Inc. is an independent energy company located in
 Midland, Texas.
     Certain statements contained herein constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995 (the "Reform Act").  Such forward-looking statements involve known and
 unknown risks, uncertainties, and other factors which may cause the actual
 results, performance, or achievements of the Company to be materially
 different from any future results, performance, or achievements expressed or
 implied by such forward-looking statements.  Such factors include, among
 others, the following:  the volatility of oil and gas prices, the Company's
 drilling results, the Company's ability to replace short-lived reserves, the
 availability of capital resources, the reliance upon estimates of proved
 reserves, operating hazards and uninsured risks, competition, government
 regulation, the ability of the Company to implement its business strategy, and
 other factors referenced in the Company's public filings with the Securities
 and Exchange Commission.
 
 

SOURCE Clayton Williams Energy, Inc.
    MIDLAND, Texas, April 3 /PRNewswire/ --
 Clayton Williams Energy, Inc. (Nasdaq:   CWEI) announced today that it has
 completed and tested three Miocene wells in Plaquemines Parish, Louisiana, and
 the following production information was obtained from limited well tests:
 
     --  State Lease 16710 #1 -- tested at 1.854 MMcf per day and 65 barrels
         of oil per day on an 11/64" choke with 3,053 psi flowing tubing
         pressure.  Once the well is connected to a pipeline, the Company
         expects to produce the well initially at 2.0 MMcf per day along with
         the associated oil production.
     --  Calvin Encalade #1 -- tested at 2.414 MMcf per day and 120 barrels of
         oil per day on an 11.5/64" choke with 3,682 psi flowing tubing
         pressure from 4 feet out of a possible 34 feet of total pay.  The
         initial production rate from this 4 feet of pay is expected to be
         5.0 MMcf per day and 230 barrels of oil per day once a pipeline
         hookup is made.  The well has 14 feet of pay immediately up the hole
         that may, if tests warrant, be completed and produced after the
         depletion of this lower zone.
     --  State Lease 16847 #1 -- a dual completion, tested at a combined rate
         of 3.946 MMcf per day on a 12/64" choke with 2,330 and 2,360 psi
         flowing tubing pressures.  The Company expects to initially produce
         the well at 4.0 MMcf per day after pipeline hookup.
 
     The combined production rate from these wells is expected to be
 approximately 11.0 MMcf per day and 300 barrels of oil per day.  The Company
 is in the process of permitting for completion of production facilities and
 anticipates having these wells online and producing by September of this year.
 The Company plans to drill 15 wells in Plaquemines Parish during the remainder
 of 2001.  All of the Company's properties in this area have been identified by
 3-D seismic.
     To capitalize on this exploratory success and to significantly expand its
 presence in South Louisiana, the Company has recently completed agreements to
 acquire a license for, and evaluate, approximately 3,400 square miles of 3-D
 seismic data at an initial acquisition cost of $7,500,000.  The Company
 believes that these agreements will increase its exposure to high quality, 3-D
 seismic technology driven prospects.
     Clayton Williams Energy, Inc. is an independent energy company located in
 Midland, Texas.
     Certain statements contained herein constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995 (the "Reform Act").  Such forward-looking statements involve known and
 unknown risks, uncertainties, and other factors which may cause the actual
 results, performance, or achievements of the Company to be materially
 different from any future results, performance, or achievements expressed or
 implied by such forward-looking statements.  Such factors include, among
 others, the following:  the volatility of oil and gas prices, the Company's
 drilling results, the Company's ability to replace short-lived reserves, the
 availability of capital resources, the reliance upon estimates of proved
 reserves, operating hazards and uninsured risks, competition, government
 regulation, the ability of the Company to implement its business strategy, and
 other factors referenced in the Company's public filings with the Securities
 and Exchange Commission.
 
 SOURCE  Clayton Williams Energy, Inc.

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