August 7, 2012 / 11:56 AM / 5 years ago

Carrizo profit rises on higher oil output

Aug 7 (Reuters) - Carrizo Oil & Gas Inc’s profit nearly quadrupled on higher oil production and the company expects output to continue to rise in the current quarter.

The oil and natural gas producer expects current-quarter oil production to increase about 5 percent from the preceding quarter to between 7,800 and 8,200 barrels per day .

Second-quarter output rose 28 percent to about 4.7 million barrels of oil equivalent (mboe).

Net profit rose to $28.5 million, or 71 cents per share, from $7.74 million, or 20 cents per share, a year earlier.

Revenue rose 65 percent to $83.8 million.

Shares of the Houston-based company closed at $26.02 on M onday on the Nasdaq.

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