Clayton Williams 1Q Net 35c A Share Vs 19c
Clayton Williams Energy Inc. - Midland, Texas
1st Quar March 31:
1997 1996
Revenues $17,894,000 $13,332,000
Net income 3,231,000 1,404,000
Avg shrs 9,104,000 7,478,000
Shr earns
Net income .35 .19
Clayton Williams Energy Inc. (CWEI) attributed its improved results
in the latest first quarter to higher oil and gas prices, increased
oil production and lower interest expense due to decreased debt
levels. These results were partially offset by higher exploration
costs.
The company said it is currently conducting a 3-D seismic survey in
connection with its Cotton Valley Exploratory Project and plans to
begin drilling during the fourth quarter. |
