Exploration & Production | Quarterly / Earnings Reports
Carrizo Plans Utica Shale Development in 2014
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In the Utica Shale, Carrizo expects to complete its first operated well, the Rector 1H in Guernsey County, Ohio, this week. The well was drilled with an effective lateral of 7,890 ft. and is being completed with 31 stages. Carrizo plans to rest the well for approximately 60 days before commencing flowback operations. Carrizo is the operator of, and has a 95% working interest in, the Rector 1H well. Carrizo plans to run a 1-rig development program in the Utica Shale beginning in 2014.
On October 31, 2013, Carrizo acquired approximately 5,900 net acres in the Utica Shale primarily in Guernsey and northern Noble counties, Ohio from affiliates of Avista Capital, LP for approximately $73.2 million, increasing Carrizo's position in the play to approximately 21,700 net acres. The…
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