Earnings Updates - Report on Clayton Williams Energy

NEW YORK, September 11, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Clayton Williams Energy, Inc. (NYSE: CWEI). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=CWEI

Highlights from our CWEI Report include:

• Second Quarter and First Half Results - On August 4, 2015, Clayton Williams Energy, Inc. announced its financial results for second quarter and six months. The Company generated revenues of $73.2 million during the second quarter as compared to $129.9 million reported in Q2 FY14. For the first six-month period of the fiscal 2015, the revenues totaled $137.4 million vis-à-vis revenues of $254.5 million the Company generated in H1 FY14. For the second quarter, the Company suffered a net loss of $23.3 million or $1.92 per share as against reported net income of $9.3 million or $0.77 a share in the year ago period.

• Operational and other Highlights - Oil, gas and NGL production per barrel of oil equivalent (BOE) increased by 7% in the second quarter of 2015 as compared to Q2 FY14, with oil production increasing 8% to 12,363 barrels per day, gas production increasing 6% to 16,066 Mcf per day, and NGL production decreasing 1% to 1,560 barrels per day. The Company's production cost in Q2 was $23.1 million vis-à-vis $24.6 million reported in the year ago quarter.

• Segment Performance - The Company's Oil and gas sales segment generated revenues of $68.7 million during Q2 FY15 versus revenues of $113.3 million in Q2 FY14. For the six months period the Oil and gas sales segment contributed revenues of $127.2 million vis-à-vis $223.9 million of revenues in the prior year period. The Midstream services segment reported second quarter revenues of $1.6 million as against reported revenues of $1.8 million in the previous year second quarter. For the first half, the Midstream services segment had revenues of $3.2 million versus $3.5 million reported in H1 FY14. The Company did not report any revenues from its Drilling rig services segment while in the previous year Q2 it had reported revenues of $8.5 million.

To find out how this influences our rating on Clayton Williams Energy, Inc. read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=CWEI

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