Clayton Williams Confirms Strategic Review Process Is Ongoing

Clayton Williams Energy, Inc. (NYSE: CWEI) confirmed in a press release on Tuesday that its Board of Directors had initiated a review of strategic alternatives to enhance shareholder value.

Clayton Williams added that its Board of Directors are considering possible transactions of part of the review and that the company's business update on January 18 is not related to the ongoing review process.

Clayton Williams said on Monday that it had completed a non-producing acreage in the core of its Southern Delaware position in Reeves County, Texas with the operating subsidiary of Concho Resources Inc (NYSE: CXO).

Shares of Clayton Williams have lost more than 50 percent since the start of 2016.