Mel Riggs, President of Clayton Williams Energy, Inc. (NYSE: CWEI), presented today at EnerCom’s The Oil & Gas Conference 20®.
Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas. Its exploration and production of oil and gas is focused primarily on Texas, New Mexico and Louisiana.
As of July 2015, Clayton Williams Energy resumed core drilling at a two-rig pace. As part of its financial results for the second quarter of 2015, the company reported average oil and gas production of 16.6 MBOEPD. Cash flow from operations of $9 million and EBITDA was $37 million.
During the company’s breakout session, management was asked the following questions:
- What’s your interpretation about large proppant volumes?
- Your cash liquidity doesn’t come up to the amount of your Capex, how you explain that?
- Which of your two areas is more economical?
- Are you the operator of most of your wells?
- Are there any assets for sale?
- What’s your average water cut in the Delaware basin?
- Can you talk about your cost structure in the Delaware area?
- Can you further explain the intentions with your 2015 capital program?
- What’s your average working interest in the Eagle Ford?
- Is there a price point on your drilling program?
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