Carrizo Oil & Gas (CRZO) Update - Oct 16

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dan_s
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Carrizo Oil & Gas (CRZO) Update - Oct 16

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Carrizo Oil & Gas Provides Third Quarter Operational Update
HOUSTON--(BUSINESS WIRE)-- Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) today provided an update on the Company’s operations for the third quarter.

Production volumes during the third quarter of 2019 are currently expected to be 69,500-69,600 Boe/d, an increase of approximately 6% from the second quarter. Crude oil production is expected to account for approximately 66% of the Company’s production during the quarter, while natural gas and NGLs are expected to account for approximately 18% and 16%, respectively.

During September, Carrizo took advantage of the rally in commodity prices to add to its 2020 hedge position. The Company added hedges covering 10,000 Bbls/d of crude oil for 2020, consisting of three-way collars with an average floor price of $55.00/Bbl, ceiling price of $64.10/Bbl, and sub-floor price of $45.00/Bbl. This brings the Company’s total hedge position for the year to 25,000 Bbls/d, consisting of swaps covering 3,000 Bbls/d of crude oil at an average fixed price of $55.06/Bbl and three-way collars covering 22,000 Bbls/d with an average floor price of $55.34/Bbl, ceiling price of $65.16/Bbl, and sub-floor price of $45.34/Bbl.

About Carrizo

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 in proven, producing oil and gas plays primarily in the Eagle Ford Shale in South Texas and the Permian Basin in West Texas.
Dan Steffens
Energy Prospectus Group
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