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    GLOBAL LUBRICANT WEEK 2018

    Earth Quake creates havoc, intercepts communication and disrupts oil and gas operations in Papua New Guinea

    Petrobras about to sell a U.S refinery Pasadena

    Venezuela oil sanctions more likely as Tillerson tours region

    Africa Oil Corp. provides update on operations in Kenya’s South Lokichar basin

    Commissioning Underway for ExxonMobil’s Ethane Cracker in Baytown, Texas

    BP to partner with Dongming petrochemical across three fast growing provinces, also about to expand Retail business in china.

    22th International Conference Oil and Gas Uzbekistan OGU) – the key event in the national oil and gas industry, will be held on May 16-17, in Tashkent city

    Crude declines as growth in shale production scares investors

  • Projects

    TGS announces new seismic project in the Anadarko basin

    Baish Corniche project on its final verge

    Richmond provides largescale rollers for Nigerian pipeline project

    CNOOC Limited Announces Hangingstone Project Commences Production

    Tendeka launch PulseEight wireless completion technology

    ConocoPhillips strikes oil sands sale deal with Cenovus

    Saudi Aramco, Petronas Sign Share Purchase Agreement For Equity Participation In Rapid Downstream Project

    Honeywell Technology and Controls Selected For Largest Petrochemicals Project in China

    Gazprom and Linde expanding cooperation in oil and gas sector

  • Articles
  • Whitepapers

    El Caso del Entrenamiento Basado en Simulación en la Industria de Petróleo y Gas en América Latina

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases

    Automation Instrumentation Summit Castello di Belgioioso, 4-5 July 2018

    Russian consumers reach 97.4 percent of Gas payments

    Gazprom plans to carry forward cost efficient in 2018

    U.S. gas drillers are missing out on Asia’s oil-driven cash boom

    Hexion announces first mobile Permian basin resin coating plant

    Shell announces large deep-water discovery in Gulf of Mexico

    Pemex Refinery Chief Looks to Deal With Mitsui to Spur Recovery

    Statoil increases value of Johan Sverdrup

    Cementing and Pumping lab launched by PDVSA in WESTERN VENEZUELA.

  • Market Reports

    Gas losses descended by 2.4 times in 2009-17: Gasprom

    petronas strategises business expansion to capture india’s growth

    Valero Energy sees $1.86 billion tax benefit

    ExxonMobil to Acquire Interest in Block Containing Brazil’s Carcara Oil Field from Statoil

    Kosmos Energy Acquires Hess Corp. Assets in Equatorial Guinea

    DNV GL acquires specialist in CFD for fire and explosion analysis, ComputIT

    Carrizo Oil & Gas Announces the Sale of Its Marcellus Shale Assets

    petronas strategises business expansion to capture india’s growth

    US Polyethylene Export Market Report 2017-2020

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Carrizo Oil & Gas Announces the Sale of Its Marcellus Shale Assets

Yuvraj_ong by Yuvraj_ong
October 2, 2017
in Market Reports, Pipelines & Transport
0

Carrizo Oil & Gas, Inc. announced that on October 5, 2017, the Company entered into an agreement to sell its assets in the Marcellus Shale to a subsidiary of Kalnin Ventures LLC for $84 million in cash, subject to customary closing terms and conditions.

Additionally, Carrizo could receive contingent payments of up to $7.5 million in aggregate based on natural gas prices exceeding certain thresholds over the next three years. Net production from the assets averaged more than 40 MMcf/d of natural gas over the first nine months of 2017. The effective date of the transaction is April 1, 2017, and the transaction is currently expected to close by the end of November, 2017.

S.P. “Chip” Johnson, IV, Carrizo’s President and CEO, commented, “With the announced sale of our Marcellus package, we have continued to execute on the divestiture program we outlined earlier this year. We expect to close the sale of both of our Appalachian packages during the fourth quarter and remain on track to reach our divestiture program goals. Our DJ Basin package is currently being marketed, and interest has been strong. We hope to be able to announce a sale of this asset later this quarter.”

 

Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas from resource plays located in the United States. Our current operations are principally focused on proven, producing oil and gas plays in the Eagle Ford Shale in South Texas and the Permian Basin in West Texas.

 

Carrizo Oil & Gas, Inc.
Jeffrey P. Hayden
CFA, VP – Investor Relations
713-328-1044

or

Kim Pinyopusarerk
Manager – Investor Relations
713-358-6430
 

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