Clayton Williams Energy loses $9.4 million in Q3 2015, may be for sale

Clayton Williams Energy cash flow for 9-month period in 2015 was $55 million, compared to $211.7 million during same period in 2014

Clayton Williams Energy Inc.

The oil and gas downturn has hit Midland, Texas-based Clayton Williams Energy, Inc. particularly hard, judging by third quarter financial statements, which the company released Thursday.

Clayton Williams Energy reported a net loss for the third quarter of 2015 (“3Q15”) of $9.4 million, or $0.77 per share, as compared to net income of $27.4 million, or $2.25 per share, for the third quarter of 2014 (“3Q14”).

American Energy News previously reported that Clayton Williams Energy had “initiated a review of strategic alternatives to enhance shareholder value,” which could include selling the company, and retained Goldman Sachs to lead the process,

Adjusted net loss (non-GAAP) for 3Q15 was $14.9 million, or $1.23 per share, as compared to adjusted net income¹(non-GAAP) of $17.4 million, or $1.43 per share, for 3Q14. Cash flow from operations for 3Q15 was $26.4 million as compared to $86.7 million for 3Q14. EBITDAX² (non-GAAP) for 3Q15 was $28.7 million as compared to $78.1 million for 3Q14.

For the nine months ended Sept. 30, 2015, net loss attributable to Company stockholders was $51 million, or $4.19 per share, as compared to net income of $48.1 million, or $3.96 per share, for the same period in 2014.

Adjusted net loss (non-GAAP) for the nine-month period in 2015 was $48.5 million, or $3.99 per share, as compared to adjusted net income¹(non-GAAP) of $52.1 million, or $4.28 per share, for the same period in 2014.

Cash flow from operations for the nine-month period in 2015 was $55 million as compared to $211.7 million during the same period in 2014. EBITDAX (non-GAAP) for the nine-month period in 2015 was $91.4 million as compared to $236.5 million for the same period in 2014.

2015 Highlights