Clayton Williams Energy Inc. (Nasdaq: CWEI) intends to offer $250 million aggregate principal amount of senior notes due 2020 in a private placement to eligible purchasers.
Net proceeds will be used to repay borrowings outstanding under its revolving credit facility.
The notes have not been registered under the Securities Act or any state securities laws.
Clayton Williams Energy Inc. is an independent energy company engaged in the exploration for and production of oil and natural gas primarily in Texas, Louisiana, and New Mexico. The company is headquartered in Midland, Texas.