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Carrizo Oil & Gas Inc (CRZO.O)

CRZO.O on Nasdaq

32.09USD
27 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Carrizo Oil & Gas, Inc announces private offering of $250 mln of senior notes due 2020
Monday, 27 Oct 2014 08:04am EDT 

Carrizo Oil & Gas, Inc:Has commenced private offering to eligible purchasers, subject to market and other conditions, of $250 mln aggregate principal amount of 7.50 pct senior notes due 2020.Use net proceeds to fund acquisition of oil and gas properties located in the Eagle Ford Shale from Eagle Ford Minerals, LLC, for $243.0 mln, net of working capital adjustments and for general corporate purposes.Says $93.0 mln was paid at closing which was funded from borrowings under existing revolving credit facility which will be repaid with net proceeds from offering.Says remaining $150 mln will be paid on deferred basis no later than Feb. 16, 2015 with borrowings under existing revolving credit facility.  Full Article

Carrizo Oil & Gas, Inc announces Eagle Ford Shale acquisition
Monday, 27 Oct 2014 08:00am EDT 

Carrizo Oil & Gas, Inc:Completes acquisition of additional leasehold and producing interests in the Eagle Ford Shale from Eagle Ford Minerals, LLC (EFM).Says for $250 mln in cash, subject to closing adjustment credit of $7 mln.Acquisition represents an about 25 pct working interest in certain Eagle Ford Shale properties that were already operated by Carrizo.Following closing of transaction, Carrizo holds an about 100 pct working interest in these assets.The acquired properties are in three main project areas (RPG, Irvin Ranch, and Pena) which are centrally located in the most prospective portion of the Eagle Ford Shale's volatile oil window and represent some of the highest EUR's and IRR's of all of Carrizo's Eagle Ford Shale portfolio.Third quarter net production from the acquired properties was 2,260 Bbls/d and 2,457 MMcfe/d.Transaction was completed on Oct. 24, with an effective date of Oct. 1.At closing, Carrizo paid about $93 mln, with the remaining $150 mln to be paid by Feb. 2015.Carrizo plans to fund acquisition with proceeds of separately-announced debt financing.The closing payment for transaction was initially funded from borrowings under Carrizo's revolving credit facility.  Full Article

Carrizo Oil & Gas Inc announces change in Chief Financial Officer
Tuesday, 12 Aug 2014 05:00pm EDT 

Carrizo Oil & Gas Inc:Announced that Paul F. Boling, Vice President, Chief Financial Officer, Secretary, and Treasurer, has retired effective Aug. 11.In connection with Boling's retirement, Carrizo has named David L. Pitts, the Company's current Vice President and Chief Accounting Officer, as new Chief Financial Officer and Treasurer in addition to his current positions.  Full Article