CWEI — CWEI 7¾ 04/01/19

Clayton Williams Energy Inc

Credit, Event Driven/Special Sit, Energy


Presented:12/04/2015
Price:$54.97
Cap:$0.67B
Current Price:$131.90
Cap:$2.33B

Presented

Date12/04/2015
Price$54.97
Market Cap$0.67B
Ent Value$1.21B
P/E RatioN/A
Book Value$28.50
Div Yield0%
Shares O/S12.17M
Ave Daily Vol245,029
Short Int22.95%

Current

Price$131.90
Market Cap$2.33B
Clayton Williams Energy, Inc. is a oil and gas company. It operates through two segments: Oil & Gas Exploration and Production; and Contract Drilling Services. The company was founded by Clayton W. Williams in September 1991 and is headquartered in Midland, TX.

Publicly traded companies mentioned herein: Cimarex Energy Co (XEC), Clayton Williams Energy Inc (CWEI), Concho Resources Inc (CXO), Occidental Petroleum Corporation (OXY)

Highlights

The presenter is long Clayton Williams Energy (CWEI) through its 7¾ 2019 debentures and said that the ongoing strategic review of the business presents an opportunity (the issue is callable at 103 7/8). CWEI has been losing money and in October (2015) Bloomberg reported that the company was exploring strategic options, including a sale. A subsequent article named Concho as likely to make a bid; however, the presenter also noted that CWEI has some assets in its portfolio that could be sold to shore up the credit even if a deal is not reached.

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Idea Discussion

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