CRZO - Very Good Q1 Results
Posted: Tue May 09, 2017 8:58 am
HOUSTON, May 09, 2017 (GLOBE NEWSWIRE) -- Carrizo Oil & Gas, Inc. (Nasdaq:CRZO) today announced the Company's financial results for the first quarter of 2017 and provided an operational update, which includes the following highlights:
Crude oil production of 28,844 Bbls/d, 12% above the first quarter of 2016
Total production of 46,367 Boe/d, 10% above the first quarter of 2016
Net income of $40.0 million, or $0.61 per diluted share, and Net Cash Provided by Operating Activities of $76.4 million
Adjusted Net Income of $12.1 million, or $0.18 per diluted share, and Adjusted EBITDA of $94.2 million
Increasing 2017 crude oil production growth target to 26%
Borrowing base recently increased to $900 million, with an elected commitment of $800 million
Crude oil production of 28,844 Bbls/d, 12% above the first quarter of 2016
Total production of 46,367 Boe/d, 10% above the first quarter of 2016
Net income of $40.0 million, or $0.61 per diluted share, and Net Cash Provided by Operating Activities of $76.4 million
Adjusted Net Income of $12.1 million, or $0.18 per diluted share, and Adjusted EBITDA of $94.2 million
Increasing 2017 crude oil production growth target to 26%
Borrowing base recently increased to $900 million, with an elected commitment of $800 million