Carrizo Oil & Gas Production Slowed by Gathering and Service Delays

Carrizo Oil & Gas wells in the Eagle Ford continue to meet or exceed expectations, but delays in bringing on the company’s gathering system held gas production levels below their potential. Service company equipment problems also led to delays.

Even with third quarter delays, Carrizo is poised for strong Eagle Ford growth in the fourth quarter. The company has a corporate wide objective of reaching 5,000 bbls/d of oil by year-end. That’s roughly double the company’s average in the third quarter. South Texas wells will play an integral part in the company reaching that target.

The Gas Authority of India, Limited (GAIL) is a 20% working interest partner with Carrizo across over 20,000 net acres in the Eagle Ford. The Carrizo – Gail JV was announced at the end of September, 2011. [Read more…]