Profile: Carrizo Oil & Gas Inc (CRZO.O)
23 May 2017
Carrizo Oil & Gas, Inc. (Carrizo), incorporated on September 24, 1993, is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania. As of December 31, 2016, the Company's proved reserves of 200 million barrels of oil equivalent (MMBoe) were 64% crude oil, 12% natural gas liquids (NGLs) and 24% natural gas. As of December 31, 2016, it operated approximately 94% of the wells in Eagle Ford in which it held an interest. As of December 31, 2016, it held an average interest of approximately 85% in these operated wells. As of December 31, 2016, it owned leases covering approximately 309,200 gross (179,179 net) acres in the Eagle Ford, Niobrara, Utica and the Delaware Basin areas.
The Company's core Eagle Ford properties are located in LaSalle County, and McMullen, Frio and Atascosa counties in Texas. As of December 31, 2016, the Company held interests in approximately 130,114 gross (100,195 net) acres and operated over two rigs in the Eagle Ford Shale. The Company serves as operator of the GAIL GLOBAL (USA) INC. (GAIL) joint venture properties. As of December 31, 2016, acres included in the GAIL joint venture covered approximately 25% of its total Eagle Ford acreage. As of December 31, 2016, the Company held interests in approximately 46,157 gross (21,728 net) interest acres in the Delaware Basin.
As of December 31, 2016, the Company held interests in approximately 97,314 gross (31,355 net) acres in the Niobrara, primarily in Weld and Adams counties, Colorado. During the fiscal year ended December 31, 2016 (fiscal 2016), the Company did not drill any wells as operator, but completed nine gross (5.2 net) wells and participated in 22 gross (1.6 net) non-operated wells. As of December 31, 2016, it held interests in approximately 35,615 gross (25,901 net) acres in the Utica. During fiscal 2016, it did not drilled or completed any operated wells, but had 16 additional operated wells in inventory where the Company had drilled and cased the upper portions of such wells. As of December 31, 2016, the Company was not operating any rigs in the Utica. As of December 31, 2016, it held interests in approximately 36,293 gross (12,425 net) acres in the Marcellus. Its Marcellus joint venture with Avista covers acreage primarily in West Virginia and New York.
Carrizo Oil & Gas Inc
500 Dallas St Ste 2300
HOUSTON TX 77002-4724