Clayton Williams to Abandon Two Louisiana Wells

Clayton Williams is preparing to plug and abandon the LL&E #1 (Andrea), a 16,800-foot exploratory well in Terrebonne Parish targeting the Hollywood formation. The Company will record a pre-tax charge of approximately $5.8 million related to the abandonment of this well, of which $4.8 million will be recorded in the third quarter of 2005 and $1 million will be recorded in the fourth quarter of 2005.

The Company is also preparing to plug and abandon the SL 17636 #1 (Natalie), a 13,268-foot exploratory well in Cameron Parish targeting the Planulina formation. The Company will record a pre-tax charge of approximately $3.1 million related to the abandonment of this well, of which $2.5 million will be recorded in the third quarter of 2005 and $600,000 will be recorded in the fourth quarter of 2005.

The Company is continuing its drilling operations on the Ransom #1 (Keck), a 14,000-foot exploratory well in Acadia Parish targeting the Nod A sand formation. To date, the Company has incurred approximately $2.2 million in drilling costs net to its interest.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles
Related Articles


Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours