Clayton Williams Energy Moves Forward with Floyd Prospect

Floyd prospect in Plaquemines Parish
(Click to Enlarge)
Clayton Williams Energy said Tuesday that seven of the eight wells drilled on its Floyd prospect in Plaquemines Parish are currently producing at combined rates of approximately 1,023 gross (598 net) barrels of oil and 23,576 gross (13,683 net) Mcf of gas per day. The eighth well is expected to begin production in January 2007 at rates of approximately 48 gross (27 net) barrels of oil per day and 2,300 gross (1,725 net) Mcf of gas per day, based on available well test data. The Company plans to drill at least one additional well on this acreage.

The Company also reported that it had abandoned the Kyle Peterman Management Corp #1 (Pigeon), a 15,000-foot exploratory well in Iberia Parish after determining that the well was nonproductive. The Company will record a pre-tax charge of approximately $7.5 million related to the abandonment of this well in the fourth quarter of 2006.

Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Engineer
Expertise: Production Engineering
Location: Houston, TX
Senior Client / Program Manager
Expertise: Geologist|Reservoir Engineering
Location: Seattle, WA
Senior Sales Representative - Oil and Gas
Expertise: Corrosion Engineering|Petroleum Engineering|Sales
Location: Harvey, LA
search for more jobs

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours