Clayton Williams Energy Inc. - 2011-03-14

Priced its private placement of $300 million aggregate principal amount of 7.75% senior notes due 2019. The notes were sold at 100% of par to yield 7.75% to maturity.

Clayton Williams intends to use the net proceeds to purchase its outstanding 7¾% senior notes and to pay debt. To the extent 7¾% senior notes are not tendered in the tender offer, Clayton Williams intends to use the net proceeds from the offering, in its discretion, to repay or refinance outstanding indebtedness and/or for general corporate purposes.