Clayton Williams Energy Announces $200 Million Senior Note Private Placement
July 01 2005 - 4:05PM
Business Wire
Clayton Williams Energy, Inc. (NASDAQ:CWEI) announced today that it
plans to raise up to $200 million through a private placement of
senior notes due 2013, subject to market and other customary
conditions. Certain of the Company's subsidiaries will fully and
unconditionally guarantee the notes. The Company intends to use the
net proceeds from the proposed offering to repay amounts under its
existing credit facilities and for general corporate purposes. The
notes have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States
without registration or an applicable exemption from the
registration requirements of the Securities Act. The Company plans
to offer and issue the notes only to qualified institutional buyers
pursuant to Rule 144A under the Securities Act and to persons
outside the United States pursuant to Regulation S. This news
release is neither an offer to sell nor a solicitation of an offer
to buy any of these securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful. Clayton Williams Energy, Inc. is
an independent energy company located in Midland, Texas. Except for
historical information, statements made in this release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These statements are based on assumptions and
estimates that management believes are reasonable based on
currently available information; however, management's assumptions
and the Company's future performance are subject to a wide range of
business risks and uncertainties, and there is no assurance that
these goals and projections can or will be met. Any number of
factors could cause actual results to differ materially from those
in the forward-looking statements, including, but not limited to,
production variance from expectations, volatility or oil and gas
prices, the need to develop and replace reserves, the substantial
capital expenditures required to fund operations, exploration
risks, uncertainties about estimates of reserves, competition,
government regulation, costs and results of drilling new projects,
and mechanical and other inherent risks associated with oil and gas
production. These risks and uncertainties are described in the
Company's filings with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements.
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