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Core drilling suspended in early 2015; resumed at a two-rig pace in July 2015
Oil and gas production of 16.6 MBOE/d
Adjusted net loss1 (non-GAAP) of $12.8 million
EBITDAX2 (non-GAAP) of $37 million
The downturn in commodity prices continues to have a significant impact on our business and results of operations. We suspended drilling operations in our core resource plays early in 2015 until well costs could adjust to a lower commodity price environment. We resumed drilling activities in July 2015 with one rig in the Delaware Basin and one rig in the Eagle Ford.
Oil and gas sales for 2Q15, excluding amortized deferred revenues, decreased $44.4 million compared to 2Q14. Price variances accounted for a $53.9 million decrease and production variances accounted for a $9.5 million increase. Average realized oil prices were $53.32 per barrel in 2Q15 versus $96.01 per barrel in 2Q14, average realized gas prices were $2.58 per Mcf in 2Q15 versus $4.49 per Mcf in 2Q14, and average realized natural gas liquids (“NGL”) prices were $15.30 per barrel in 2Q15 versus $31.55 per barrel in 2Q14. Oil and
The following information was filed by Clayton Williams Energy Inc De (CWEI) on Tuesday, August 4, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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