Clayton Williams Sells Pecos County Assets

Clayton Williams Energy, Inc. (NASDAQ NMS:CWEI) reported that it had closed the sale of all of its producing and nonproducing acreage in Pecos County, Texas to an undisclosed buyer for $21 million, subject to typical post-close adjustments. The Company expects to record a gain of approximately $13 million in the fourth quarter of 2007 in connection with this sale. Proceeds from the sale were used to repay indebtedness on the Company's revolving credit facility.