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Carrizo Oil & Gas, Inc. announced that its banking syndicate, led by Wells Fargo as administrative agent, has completed their semi-annual borrowing base redetermination, resulting in an increase to the borrowing base from $570.0 million to $675.0 million.
However, the Company has elected to limit the lenders' aggregate commitment to $585.0 million. The lenders' aggregate commitment can be increased to the full $675.0 million by increasing the commitment of one or more lenders. The next redetermination of the borrowing base is expected in the Spring of 2015.