Clayton Williams confirms sale interest; analyst says worth up to $113/share

• Clayton Williams Energy (NASDAQ:CWEI +15.1%) surges after confirming earlier that it has initiated a review of strategic alternatives to enhance shareholder value, including a possible sale; shares had spiked late yesterday after Bloomberg 's initial report.
• Wunderlich analyst Irene Haas believes CWEI could be worth up to $113/share in an acquisition, since the Permian shale basin is still enjoying premium valuations, and thinks a potential bidder could bring more efficient operations and an acceleration of CWEI's development program.