CRZO beat my forecast

[dan_s]

HOUSTON, May 6, 2014 (GLOBE NEWSWIRE) -- Carrizo Oil & Gas, Inc. (CRZO) today announced the Company's financial results for the first quarter of 2014 and provided an operational update, which included the following highlights:
•Record Oil Production of 15,022 Bbls/d, 61% above the first quarter of 2013
•Record Oil Revenue of $130.4 million, representing 83% of total revenue, and 49% above the first quarter of 2013
•Record Revenue of $157.2 million, 40% above the first quarter of 2013
•Income from continuing operations of $6.6 million, or $0.14 per diluted share, and Adjusted Net Income (as defined below) of $23.4 million, or $0.51 per diluted share
•Adjusted EBITDA (as defined below) of $114.3 million, 23% above the first quarter of 2013
•Confirms 60-acre downspacing in the Niobrara
•Borrowing base increased to $570 million from $470 million
•Raising 2014 crude oil production growth target to 54% <<<<<<<<<< This is VERY GOOD NEWS!

I am updating the forecast model now and will post it this afternoon. - Dan

[dan_s]

Carrizo Oil & Gas (CRZO): An updated Net Income & Cash Flow Forecast has been posted under the Sweet 16 Tab.

My increased Fair Value Estimate can be found at the bottom of the spreadsheet.