Clayton Williams Energy, Inc. (the “Company”) (NASDAQ:CWEI) announced today that its exchange offer relating to its outstanding $350,000,000 aggregate principal amount of 7.75% Senior Notes due 2019 (the “Notes”), which commenced on January 6, 2012, expired on February 7, 2012 at 5:00 p.m., New York City time. As of the expiration date, holders of $350,000,000, or 100%, of the outstanding aggregate principal amount of the Notes have tendered their Notes for exchange. The Company has accepted all Notes validly tendered and not properly withdrawn. Holders of Notes previously tendered for exchange no longer have the right to withdraw tenders of Notes.
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. The Company 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 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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