Clayton Williams Energy Provides Update on Recent Transactions

MIDLAND, Texas--(BUSINESS WIRE)-- Clayton Williams Energy, Inc. (the "Company")

today provided an update on recent transactions. Southern Delaware Basin The Company reported that it had completed a swap of non-producing acreage in the core of its Southern Delaware position in Reeves County, Texas with the operating subsidiary of Concho Resources, Inc. ("Concho")

. Substantially all of the acreage subject to this agreement was associated with a farm out agreement between the Company and Chesapeake Energy Corporation through which the Company earned a 75% interest in certain leases (the "Leases"). Subsequently, Concho acquired the remaining 25% of the Leases. The Company and