Clayton Williams Energy, Inc. continues to achieve solid results from its Eagle Ford Shale play situated on its legacy Austin Chalk acreage block in Burleson, Robertson and Lee Counties, Texas. Currently, the Company has 22 horizontal Eagle Ford wells in this area that have been on production for 30 or more days.
The peak 30-day production rate for these wells has averaged 518 BOE per day (96% oil). Six additional wells have been on production for less than 30 days or are currently in various stages of completion, and three wells are currently being drilled. Depending on lateral length and completion design, the Company's typical drilling and completion costs in this area range from $5 million to $6 million per well.
In an effort to optimize production and recovery rates, the Company is currently testing sequential fracturing operations and increased well densities, primarily in Burleson County.