Profile: Carrizo Oil & Gas, Inc. (CRZO.O)
29 May 2015
Carrizo Oil & Gas, Inc., incorporated on September, 24, 1993, is an energy company. The Company is actively engaged in the exploration, development, and production of oil and gas primarily from resource plays located in the United States. As of December 31, 2013 the Company’s operations are principally focused in producing oil and gas plays primarily in the Eagle Ford Shale in South Texas, the Niobrara Formation in Colorado, the Marcellus Shale in Pennsylvania, and the Utica Shale in Ohio. The Company’s total production as of 2013 is 10.0 Million Barrels of Oil Equivalent (MMBoe). At year-end 2013, its U.S. reserves of 101.5 MMBoe were 61% crude oil, 8% natural gas liquids and 31% natural gas.
Crude Oil Plays and Projects
At December 31, 2013, the crude oil and NGL proved reserves were 70.2 MMBoe. The Eagle Ford Shale has become the Company’s most significant operational area. Its core Eagle Ford properties are located in LaSalle county and, to a lesser extent, in McMullen, Frio and Atascosa counties in Texas. As of December 31, 2013, the Company held interests in approximately 116,500 gross (62,181 net) acres and was operating three rigs in the Eagle Ford Shale. As of December 31, 2013, approximately 29,256 net acres are subject to the Company’s September 2011 joint venture arrangements with GAIL GLOBAL (USA) INC.
As another part of its growth strategy in crude oil and NGLs, starting in 2010, the Company also acquired working interests in the Niobrara Formation located in the Denver-Julesberg Basin, primarily in Weld and Adams counties, Colorado. As of December 31, 2013, the Company held interests in approximately 123,224 gross (47,453 net) acres. The Company serves as operator of the properties covered by its Niobrara joint venture arrangements. As of December 31, 2013, approximately 66,507 acres (net to the joint venture) in the Niobrara Formation were subject to its Niobrara joint venture arrangements.
Natural Gas Plays
As of December 31, 2013, the Company held interests in approximately 106,322 gross (37,305 net) acres in the Marcellus Shale. The Company’s joint venture with Avista continues and now covers approximately 29,224 net acres, primarily in West Virginia and New York.
Carrizo Oil & Gas, Inc.
500 Dallas St Ste 2300
HOUSTON TX 77002-4724