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News Breaks
February 20, 2014
07:58 EDTCWEIClayton Williams reports Q4 EPS 53c, may not compare to consensus 86c
Reports Q4 revenue $112.3M, consensus $110.78M.
News For CWEI From The Last 14 Days
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November 12, 2014
11:03 EDTCWEIClayton Williams announces strategic farmout agreement with Caza Oil
Clayton Williams Energy announced that it had entered into a farmout and exploration agreement with Caza Oil and Gas covering a portion of the Company’s 71,000 net acre resource play in Reeves County, Texas. All of the approximate 15,000 net undeveloped acres covered by this agreement are located along the western flank of the Company’s acreage block. The Company has drilled no horizontal Wolfcamp wells within the farmout area. Under the terms of the agreement, Caza will pay 75% of the costs of the initial horizontal Wolfcamp well to earn 50% of the acreage associated with that well. After the initial well, Caza will pay 100% of the costs of all other Carried Wells to earn 75% of the associated acreage. The Company will pay its 25% of the cost to drill and complete all density wells drilled on previously earned acreage. In addition to the initial well, Caza is obligated to drill and complete two additional horizontal Wolfcamp wells in the farmout area by December 31, 2015. Caza is subject to a penalty of $1.6M per well for any obligation well not drilled. Caza must also drill a minimum of two carried wells per year in order to continue participation in the agreement beyond December 31, 2015.

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