Carrizo Oil & Gas Provides Preliminary Third Quarter Production Results and Announces Financial Results Release Date and Conference Call

Thu Oct 25, 2012 7:20am EDT

* Reuters is not responsible for the content in this press release.

  HOUSTON, TX, Oct 25 (Marketwire) -- 
Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) today reported preliminary average
daily production rates for the third quarter of 2012 and the scheduled
release date for third quarter financial results. 

    The preliminary average daily oil and condensate production rate for the
third quarter was approximately 8,600 Bbls/day, a sequential increase of
14% from the record rate reported in the second quarter and exceeding the
high end of the Company's oil production guidance of 8,200 Bbls/day. The
preliminary average daily natural gas and NGL production rate for the
third quarter was approximately 101,500 Mcfe/day (5% NGLs), exceeding the
high end of prior guidance of 96,000 Mcfe/day which had been adjusted to
reflect the impact of the sale of Barnett Shale gas production to a
subsidiary of Atlas Resource Partners, L.P. effective May 1, 2012.

    S.P. "Chip" Johnson, IV, President and CEO of Carrizo, commented, "We are
pleased to have set an all-time high and exceeded our guidance for oil
production during the quarter. Our oil production benefitted from having
to shut-in fewer producing wells in the Eagle Ford Shale than forecast
while we completed new wells on adjacent pads. In addition, we were able
to return the shut-in wells to full production over a shorter period than
we had anticipated. Annual production guidance remains unchanged before
taking into account the estimated 1,650 Boe/day fourth quarter impact
from the recently announced joint ventures in the Niobrara and the Gulf
Coast asset sale. Additional detail including a preliminary 2013
production forecast will be provided during our conference call to
discuss third quarter results on November 6th."

    Third Quarter Earnings Release Date and Conference Call
 Carrizo is
scheduled to release 2012 third quarter results on Tuesday, November 6th,
2012 before the market opens. The Company will host a conference call
that same day. 

    Conference Call Date & Time:
 Tuesday, November 6 at 10:00 AM CST

    Dial-In Number:
 (800) 709 - 0218 (U.S. & Canada)
  +1 (212) 231 - 2900
(Intl./Local)

    Telephone Replay Number:
 (800) 633 - 8284 (U.S. & Canada)
 +1 (402) 977
- 9140 (Intl./Local)

    Enter Replay Reservation #: 21608245 for U.S., Canadian and International
callers.

    The replay will be available through Tuesday, November 13, 2012 at 11:59
AM CST.

    A simultaneous webcast of the call may be accessed over the internet at
http://www.investorcalendar.com/IC/CEPage.asp?ID=169980 or by visiting
our website at http://www.crzo.net clicking on "Investor Relations" and
then clicking on "2012 Third Quarter Conference Call Webcast." To listen,
please go to either website in time to register and install any necessary
software. The webcast will be archived for replay on the Carrizo website
for 15 days.

    Carrizo Oil & Gas, Inc. is a Houston-based energy company actively
engaged in the exploration, development, and production of oil and gas
primarily in the United States and United Kingdom. Our current operations
are principally focused in proven, producing oil and gas plays primarily
in the Eagle Ford Shale in South Texas, the Niobrara Formation in
Colorado, the Barnett Shale in North Texas, the Marcellus Shale in
Pennsylvania, New York and West Virginia, and the U.K. North Sea where
our Huntington Field project is currently under development.

    Statements in this news release that are not historical facts, including
but not limited to those related to timing, levels and rates of
production, production mix, effect of joint ventures and the sales
transaction, the Company's or management's intentions, beliefs,
expectations, hopes, projections, assessment of risks, estimations, plans
or predictions for the future, results of the Company's strategies,
timing of completion and drilling of wells, and other statements that are
not historical facts are forward-looking statements that are based on
current expectations. Although Carrizo believes that its expectations are
based on reasonable assumptions, it can give no assurance that these
expectations will prove correct. Important factors that could cause
actual results to differ materially from those in the forward-looking
statements include results of final calculations and reviews, actions by
governmental authorities, joint venture partners, industry partners,
lenders and other third parties, market and other conditions, capital
needs and uses, commodity price changes, effects of the global economy on
exploration activity, results of and dependence on exploratory drilling
activities, operating risks, right-of-way and other land issues,
availability of capital and equipment, weather, and other risks described
in Carrizo's Form 10-K for the year ended December 31, 2011 and its other
filings with the Securities and Exchange Commission.

    

Contact:
Carrizo Oil & Gas, Inc.
Richard Hunter
Vice President of Investor Relations
Paul F. Boling
Chief Financial Officer
(713) 328-1000 

Copyright 2012, Marketwire, All rights reserved.

-0-