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Clayton Williams Energy Announces Board Review of Strategic Alternatives

MIDLAND, Texas--(BUSINESS WIRE)--Clayton Williams Energy, Inc. (the “Company”) (NYSE:CWEI) today announced that its Board of Directors has initiated a review of strategic alternatives to enhance shareholder value and has engaged Goldman, Sachs & Co. to serve as its exclusive financial adviser in that process. Potential strategic alternatives to be considered during the review may include the sale of certain of the Company’s core assets, a recapitalization transaction or a merger.

There can be no assurance that this review process will result in any transaction in the future, and no decision has been made to enter into any transaction at this time. The Company does not intend to make any additional comments on this matter other than as required by applicable law.

Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas.

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or current facts, that address activities, events, outcomes and other matters that we plan...