SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

WILLIAMS CLAYTON W

(Last)

(First)

(Middle)

6 DESTA DRIVE, SUITE 6500

(Street)

MIDLAND

79705

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CLAYTON WILLIAMS ENERGY INC /DE [ CWEI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman, President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		300	A	$37.8	1,354,464	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		108	A	$37.82	1,354,572	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$37.91	1,354,672	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		292	A	$37.93	1,354,964	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		500	A	$37.96	1,355,464	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$37.99	1,355,564	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		200	A	$38	1,355,764	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		400	A	$38.02	1,356,164	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		200	A	$38.04	1,356,364	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.05	1,356,464	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		200	A	$38.06	1,356,664	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		300	A	$38.07	1,356,964	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.08	1,357,064	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		200	A	$38.09	1,357,264	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.1	1,357,364	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		500	A	$38.11	1,357,864	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		200	A	$38.12	1,358,064	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		200	A	$38.17	1,358,264	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		700	A	$38.22	1,358,964	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		107	A	$38.3267	1,359,071	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		493	A	$38.33	1,359,564	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.36	1,359,664	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.37	1,359,764	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		200	A	$38.38	1,359,964	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.52	1,360,064	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.61	1,360,164	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		190	A	$38.64	1,360,354	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.67	1,360,454	I	See⁽²⁾
Common Stock, $.10 par value	03/05/2008		P⁽¹⁾		100	A	$38.68	1,360,554	I	See⁽²⁾
Common Stock, $.10 par value								1,725,019⁽³⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The purchases reported in this Form 4 were effected pursuant to a Rule 10b5-1 Purchase Plan adopted by CW Stock Holdco, L.P. on February 14, 2008. The Reporting Person is the sole stockholder of Clajon Holding Corporation which is the sole member of CW Stock Holdco G.P., L.L.C. which is the general partner of CW Stock Holdco, L.P.

2. Indirect ownership of the Issuer's Common Stock is held as follows: CWPLCO, Inc. (1,247,488 shares), Modesta Williams, as separate property (11,044 shares), a trust of which Mrs. Williams is trustee (588 shares), Trusts for Clayton Wade Williams, Jeff Williams and Chicora Modesta Williams, of which Mr. Williams is Trustee (49,179 shares), a trust in which Mr. Williams is beneficiary and Mrs. Williams is trustee (5,749 shares), by wife, Mrs. Williams as custodian for grandchildren under UGTMA (7,421 shares), CW Stock Holdco, L.P. (27,345 shares). This amount also includes 17,365 shares held in the Company's 401(k) Plan and Trust. The number of shares of the Issuer's Common Stock held by CW Stock Holdco, L.P. reflects all transactions included on Form 4 (one of two) and Form 4 (two of two) filed by the Reporting Person on the date hereof.

3. Amount presented includes the right to acquire 750,000 shares through the exercise of stock options.

Remarks:

Form 4 - 1 of 2

	/s/ Clayton W. Williams, by L. Paul Latham as attorney-in-fact	03/07/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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