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Carrizo Reports $311 Million 1Q16 Loss; Increase Production Guidance
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Carrizo Oil & Gas, Inc. announced the Company's financial results for the first quarter of 2016 and provided an operational update.
Key Points: Record Oil Production of 25,806 Bbls/d, 21% above the first quarter of 2015 - subsequently, Carrizo is increasing its 2016 oil production guidance to 24,800-25,300 Bbls/d from 24,700-25,300 Bbls/d previously. Carrizo reported a first quarter of 2016 loss from continuing operations of $311.4 million, or $5.34 per basic and diluted share compared to a loss from continuing operations of $21.5 million, or $0.46 per basic and diluted share in the first quarter of 2015. Eagle Ford - drilled 18 gross (17.0 net) operated wells during the first quarter and completed 14 gross (12.5 net) wells. New stagger stack tests have potential to add approximately…- ✓ Full news archive — U.S., Canada & international coverage
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