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Clayton Williams to use $50 million proceeds to pay down bank debt
By Angela McDaniels
Tacoma, Wash., Oct. 10 - Clayton Williams Energy, Inc. will repay a portion of its outstanding bank debt with $50 million of cash proceeds it received when it terminated all of its existing 2012 and 2013 oil hedges, according to a company news release.
The terminated contracts covered 2,649,000 barrels of oil production for 2012 and 1,189,000 barrels for 2013.
Clayton Williams is an independent energy company located in Midland, Texas.
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