Key Developments For Carrizo Oil & Gas Inc
Carrizo Oil & Gas Inc (CRZO.O) (Nasdaq)
Carrizo Oil & Gas, Inc. Issues Q4 2009 And FY 2010 Production Outlook-Conference Call
Carrizo Oil & Gas, Inc. announced that for the fourth quarter of 2009, it expects production to average 87 to 90 million cubic feet equivalent per day. For fiscal 2010, the Company expects production to average between a 100 to 110 million cubic feet equivalent per day.
Carrizo Oil & Gas, Inc. Announces Sale of its Mansfield Gas Pipeline and Gathering System
Carrizo Oil & Gas, Inc. announced the closing of the sale of its Mansfield pipeline and gathering system in Tarrant County, Texas to Delphi Midstream Partners, LLC for net proceeds of $34.7 million, including a working capital adjustment of approximately $1.2 million. Net proceeds from the sale will be used to reduce the debt outstanding under Carrizo's Senior Credit Facility.
Carrizo Oil & Gas, Inc. Announces $25 Million Increase in Credit Facility Commitments To $284 Million
Carrizo Oil & Gas, Inc. announced the addition of Wells Fargo Bank, NA (Wells Fargo) and Calyon New York Branch (Calyon) to its banking syndicate and the net increase of commitments under its credit facility to $284 million from $259 million. As described in an 8-K filing on May 27, Wells Fargo joined the Carrizo banking syndicate as administrative agent on May 20 by assuming $50 million of Guaranty Bank's credit commitment. On June 5, Calyon also joined the banking syndicate, increasing the total credit commitments to $284 million. These events also raise the number of member banks from seven to nine.
Carrizo Oil & Gas, Inc. Announces $40 Million Increase In Borrowing Base To $290 Million
Carrizo Oil & Gas, Inc. announced that its bank syndicate approved a $40 million borrowing base increase to its secured credit facility, raising it to $290 million. The existing bank syndicate also agreed to increase their credit commitments to the new borrowing base from $250 million to $259 million. Accordingly, several new banks have been invited to join the syndicate to provide commitments for the balance of the borrowing base increase. These banks are currently engaged in a review process that Carrizo anticipates will be completed in the next 20 to 30 days, after which the Company expects some of these banks to join the consortium.
Carrizo Oil & Gas, Inc. Announces Increase of Credit Facility Commitments by $27.5 Million to $250 Million
Carrizo Oil & Gas, Inc. announced the addition of the Union Bank of California, N.A. to its banking syndicate and the increase of commitments under its credit facility to $250 million from $222.5 million.
