updated 11/12/2010 2:33:15 PM ET 2010-11-12T19:33:15

Energy company Clayton Williams Energy Inc. said Friday it estimates increases in average daily production for oil, gas and natural gas liquids from the third to fourth quarters of this year.

The Midland, Texas, company disclosed estimates being used to model its anticipated results. It also said it plans to spend about $304.1 million on exploration and development in 2010, and it spent $209 million in the first nine months of the year.

The company's shares fell $2.46, or more than 3 percent, to $71.30 in Friday afternoon trading.

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