Profile: Carrizo Oil & Gas Inc (CRZO.O)
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. The Company has a total production of approximately 13.4 million barrels of oil equivalent (MMBoe) per year. The Company's proved reserves of approximately 170.6 MMBoe are over 64% crude oil, 12% natural gas liquids (NGLs) and 24% natural gas. It operates approximately 90% of the wells in Eagle Ford in which it holds an interest. It holds an average interest of approximately 88% in these operated wells. It owns leases covering approximately 291,610 gross (165,470 net) acres in the Eagle Ford, Niobrara, Utica and the Delaware Basin areas. It operates over 70 gross wells drilled in the Eagle Ford.
The Company's core Eagle Ford properties are located in LaSalle County, and McMullen, Frio and Atascosa counties in Texas. The Company holds interests in approximately 107,020 gross (82,670 net) acres and operates over two rigs in the Eagle Ford Shale. It entered into a joint venture arrangement with GAIL GLOBAL (USA) INC. (GAIL), which is a subsidiary of GAIL (India) Limited. Under this arrangement, GAIL holds over 20% interest in certain oil and gas properties in the Eagle Ford and an option to purchase over 20% share of acreage held by it after the closing located in specified areas adjacent to the initially purchased areas. The Company generally serves as operator of the GAIL joint venture properties. It holds interest in approximately 41,180 gross (21,915 net) acres in the Delaware Basin. It drilled a total of over four gross (3.6 net) wells and completed over two gross (1.7 net) wells.
The Company holds interests in approximately 105,825 gross (33,582 net) acres in the Niobrara, in Weld and Adams counties, Colorado. It drilled over 10 gross (7.5 net) wells as operator and participated in over 40 gross (3.6 net) additional wells as a non-operator. The Company holds interests in approximately 37,580 gross (27,305 net) acres in the Utica. The Company has over 20 additional wells in inventory where it has drilled and cased the upper portions of such wells. It holds interests in approximately 59,980 gross (19,271 net) acres in the Marcellus Shale. It 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