Clayton Williams Energy, Inc. (CWEI) Reports Second Quarter 2010 Results
Clayton Williams Energy, Inc. reported net income of $14 million, or $1.15 per diluted share, for the second quarter of 2010. The company reported a net loss of $38.6 million, or ($3.18) per diluted share, in the corresponding quarter of 2009. Clayton Williams Energy, Inc. attributed the large improvement in earnings on a year over year basis to higher realized prices for oil and gas sales. The company reported that the average realized price for oil in the second quarter of 2010 was $74.27 per barrel, compared to only $56.55 per barrel in the second quarter of 2009. Clayton Williams…