Clayton Williams Abandons Cobena #1

Clayton Williams Energy, Inc. abandoned the Cobena #1, a 15,250-foot exploratory well in Acadia Parish in the Boa II prospect on which drilling operations began in April 2006. As previously announced, the Company had temporarily abandoned the Discorbis 3 sand due to mechanical difficulties in March 2007. After attempts to complete the well in the Discorbis 2 sand were unsuccessful, the Company and its partners conducted an evaluation of the completion data in the Discorbis 3 sand to determine if the potential for proved reserves from this sand justified a second completion attempt. Based on this evaluation, the Company and its partners have decided to abandon the well. The Company will record a pre-tax charge of approximately $12 million related to the abandonment of this well during the second quarter of 2007.