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Wednesday, May 10, 2017

Carrizo Follows Other Drillers Who Are Looking to Sell Off Utica and Marcellus Shale Assets

From the first quarter earnings call with Carrizo Oil and Gas:
Brian Corales - Howard Weil 
Good morning, guys. Just a couple for you. The increased lay-in budget, was that partly due to, I guess, the Eagle Ford acreage you added in the quarter? And what acreage, I guess, are you targeting? It sounds like you have something pinpointed now. 
S.P. Johnson - Carrizo Oil & Gas, Inc. 
We have acquired acreage in the Eagle Ford and the Permian. Generally it's bolt-on acreage to the acreage we already have. Nearly all of it adjoins something we're already operating. 
Brian Corales - Howard Weil 
Okay. And in Appalachia, I'm assuming you're looking to sell both assets. And is there a data room open, or is this kind of see what's out there? 
S.P. Johnson - Carrizo Oil & Gas, Inc. 
We have engaged bankers on both of them and are doing teasers followed by data rooms. 
Brian Corales - Howard Weil 
And any kind of rough estimate in terms of timing or – ? 
S.P. Johnson - Carrizo Oil & Gas, Inc. 
The Marcellus is further along. We've had some data room visits on that. The Utica, data rooms are being scheduled.
Click here to read the whole earnings call transcript. 

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