Clayton Williams Energy, Inc. Announces Full Redemption of 7¾% Senior Notes Due 2013
June 09 2011 - 7:55AM
Business Wire
Clayton Williams Energy, Inc. (“CWEI”) (NASDAQ: CWEI) announced
today that it will redeem the outstanding principal amount of its
7¾% Senior Notes due 2013, CUSIP No. 969490AC5, (the “Notes”) on
August 1, 2011. The notice of redemption will be mailed to
holders of Notes on June 9, 2011.
The redemption price is equal to 100% of the principal amount of
the Notes plus accrued and unpaid interest thereon up to but
excluding the redemption date. As of June 9, 2011, the
aggregate principal amount of Notes outstanding is $81,835,000.
CWEI intends to finance the redemption of the Notes with
borrowings under its revolving credit facility.
This release contains 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. All statements, other
than statements of historical or current facts, that address
activities, events, outcomes and other matters that we plan,
expect, intend, assume, believe, budget, predict, forecast,
project, estimate or anticipate (and other similar expressions)
will, should or may occur in the future are forward-looking
statements. These forward-looking statements are based on
management’s current belief, based on currently available
information, as to the outcome and timing of future events. CWEI
cautions that its future natural gas and liquids production,
revenues, cash flows, liquidity, plans for future operations,
expenses, outlook for oil and natural gas prices, timing of capital
expenditures and other forward-looking statements are subject to
all of the risks and uncertainties, many of which are beyond our
control, incident to the exploration for and development,
production and marketing of oil and gas.
These risks include, but are not limited to, the possibility of
unsuccessful exploration and development drilling activities, our
ability to replace and sustain production, commodity price
volatility, domestic and worldwide economic conditions, the
availability of capital on economic terms to fund our capital
expenditures and acquisitions, our level of indebtedness, the
impact of the current economic recession on our business
operations, financial condition and ability to raise capital,
declines in the value of our oil and gas properties resulting in a
decrease in our borrowing base under our credit facility and
impairments, the ability of financial counterparties to perform or
fulfill their obligations under existing agreements, the
uncertainty inherent in estimating proved oil and gas reserves and
in projecting future rates of production and timing of development
expenditures, drilling and other operating risks, lack of
availability of goods and services, regulatory and environmental
risks associated with drilling and production activities, the
adverse effects of changes in applicable tax, environmental and
other regulatory legislation, and other risks and uncertainties are
described in the CWEI's filings with the Securities and Exchange
Commission. CWEI undertakes no obligation to publicly update or
revise any forward-looking statements.
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