The market rewarded Clayton Williams Energy's (CWEI) operating update and guidance, which were released on Monday after the close, with a 25% upward move in the share price in just two trading sessions. The stock effectively re-captured the territory it has lost since the previous reporting season when the shares traded as high as $83 per share.
While Clayton Williams' operating metrics were solid across the board, the obvious primary driver behind the market's enthusiasm is the strength and consistency of the company's announced latest well results in its Delaware Basin horizontal Wolfcamp play. The company reported that its last five wells targeting the Wolfcamp A interval achieved an average 30-day initial production rate of 886...
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