Capital: Clayton Williams + Ares Management

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Clayton Williams Energy Announces Agreement to Sell $150 Million of Common Stock

New Capital to Strengthen Balance Sheet, Reduce Leverage and Enhance Growth ; Company Expanding Board and Filling Senior Management Positions

MIDLAND, Texas–July 25, 2016–(BUSINESS WIRE)–Clayton Williams Energy, Inc. (the “Company”) (NYSE:CWEI) announced today the sale of 5,051,100 shares of common stock to funds managed by Ares Management, L.P. (NYSE: ARES) for cash proceeds of $150 million, or approximately $29.70 per share.

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