Clayton Williams Energy, Inc. (CWEI) saw its loss narrow to $27.18 million, or $1.54 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $47.21 million, or $3.88 a share. On the other hand, adjusted net loss for the quarter widened to $26.20 million, or $1.49 a share from a loss of $22.15 million or $1.82 a share, a year ago. Revenue during the quarter surged 299.49 percent to $161.46 million from $40.42 million in the previous year period. Gross margin for the quarter expanded 4215 basis points over the previous year period to 88.59 percent.
Operating income for the quarter was $105.47 million, compared with an operating loss of $62.46 million in the previous year period.
Operating cash flow drops significantly
Clayton Williams Energy, Inc. has generated cash of $10.73 million from operating activities during the year, down 79.43 percent or $41.43 million, when compared with the last year. Cash flow from investing activities was $313.23 million from investing activities during the year as against cash outgo of $117.40 million in the last year.
Cash flow from financing activities was $241.29 million for the year, up 436.20 percent or $196.29 million, when compared with the last year.
Cash and cash equivalents stood at $573.02 million as on Dec. 31, 2016, up 7,265.36 percent or $565.24 million from $7.78 million on Dec. 31, 2015.
Working capital increases sharply
Clayton Williams Energy, Inc. has recorded an increase in the working capital over the last year. It stood at $524.42 million as at Dec. 31, 2016, up 17,004.37 percent or $521.35 million from $3.07 million on Dec. 31, 2015. Current ratio was at 5.91 as on Dec. 31, 2016, up from 1.05 on Dec. 31, 2015.
Debt moves up
Clayton Williams Energy, Inc. has witnessed an increase in total debt over the last one year. It stood at $848 million as on Dec. 31, 2016, up 14.22 percent or $105.59 million from $742.41 million on Dec. 31, 2015. Clayton Williams Energy has witnessed an increase in long-term debt over the last one year. It stood at $848 million as on Dec. 31, 2016, up 14.22 percent or $105.59 million from $742.41 million on Dec. 31, 2015. Total debt was 56.74 percent of total assets as on Dec. 31, 2016, compared with 57.34 percent on Dec. 31, 2015. Debt to equity ratio was at 5.28 as on Dec. 31, 2016, up from 2.48 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
