* Says Q4 average production was 94.4 mmcfe/day
* Sees FY 2010 capex of $170 mln
* Sees production of 130-140 mmcfe/day by end-2010
Feb 11 Independent oil and gas company Carrizo
Oil & Gas Inc (CRZO.O) said its total production for the fourth
quarter rose 20 percent year-over-year, helped by increased
For the quarter, the company's production was 8.7 billion
cubic feet equivalent (bcfe) or an average of 94.4 million
cubic feet equivalent per day (mmcfed).
"A shorter lag between well completion and connection to
pipelines was largely responsible for the higher than expected
production," Carrizo said in a statement.
Carrizo also said it expects 2010 capital expenditures of
$170 million, of which $130 million will be spent on the
"The planned capital expenditure budget lets us reduce the
backlog to 11 to 15 wells by year end," the company said.
Carrizo also forecast production of 130 mmcfed to 140
mmcfed by 2010 year-end.
Shares of the company closed at $22.28 Wednesday on Nasdaq.
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(Reporting by Arup Roychoudhury in Bangalore; Editing by Ratul