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Carrizo Looking for Niobrara Sweet Spot; Tests Multiple Benches
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Carrizo Oil and Gas Inc. has reported a third quarter 2014 update on its Niobrara Shale operations.
In the Niobrara Formation, Carrizo drilled 9 gross (3.5 net) operated wells during the third quarter, and completed 7 gross (3.3 net) wells. Crude oil production from the Niobrara was approximately 2,300 Bbls/d for the quarter, an increase of 5% versus the prior quarter. Carrizo is operating one rig in the Niobrara and currently expects to drill 33 gross (11 net) operated wells during 2014.
During the third quarter, Carrizo continued to test multiple geologic benches of the Niobrara formation as well as downspacing within the B bench. The Company continues to be pleased with the results from its initial eight-well downspacing pilot in its Bringelson Ranch area in Weld County, Colorado…
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