Clayton Williams +27% in two days on strong production guidance

|About: Clayton Williams Energy, Inc. (CWEI)|By:, SA News Editor

Clayton Williams (CWEI +12.2%) surges for a second straight day after the energy explorer provided an update on its Delaware Basin Wolfbone and Eagle Ford shale operations; shares are now up 27% in two days.

CWEI expects 2014 production of 16.4K-17.3K boe/day, up from 14.4K in 2013; to achieve that growth, capital spending is expected to reach $378M, primarily in the Delaware Basin.

Preliminary Q4 2013 production averaged 14.8K boe/day, up 8% Q/Q; proved reserves totaled 70.1M boe.

The update prompts SunTrust to upgrade shares to Buy from Neutral with a $145 price target, up from $83.