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Carrizo Changing Frac Design After Lackluster Well Performance
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Carrizo Oil & Gas has provided its 2019 operational plan and here is a quick look.
Spending in 2019 will be $550 million, down 33% year over year. Even with the reduced spending, the company plans to complete 90 wells vs 97 in 2018.
What is truly alarming is that, even with the almost flat completion plan, Carrizo is only growing oil production a measly +8% year over year.
One of the reason's for the lackluster oil growth is the performance of older Eagle Ford wells. The company is in the process of reverting to hybrid water gel completions from 100% slickwater completions.
Below is data taken from the Texas Railroad commission production data for Carrizo's Eagle Ford wells.
Source : Texas Railroad Commission
Carrizo Frac Fluid Type Below is a chart showing Carrizo's switch back to…- ✓ Full news archive — U.S., Canada & international coverage
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