Carrizo Oil & Gas announced year-end results along with updates from the company’s development in oil plays. Eagle Ford Shale reserves increased 90% year over year from 15 mmboe to 28.5 mmboe.
Carrizo’s 41,000 acres is primarily located in the gas condensate window, of La Salle and McMullen counties, where expectations are for a production stream of 75% liquids and 25% rich gas. Oil in the area is selling at an average of $4 better than NYMEX prices, so even with infrastructure constraints we’re seeing the benefits of proximity to the Gulf Coast refining complex. [Read more…]