Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Carrizo Reports 4Q Net Loss; Grows Production
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Carrizo Oil & Gas, Inc. has reported its financial results for the fourth quarter of 2013, proved oil and gas reserves for year-end 2013 and provided an operational update.
Highlights: Record Oil Production of 13,033 Bbls/d, 44% above the fourth quarter of 2012 Oil Revenue of $110.2 million, representing 85% of total revenue, and 36% above the fourth quarter of 2012 Net Loss from continuing operations of $22.2 million, or $0.52 per diluted share, and Adjusted Net Income (as defined below) of $17.0 million, or $0.39 per diluted share Adjusted EBITDA (as defined below) of $101.2 million, 8% above the fourth quarter of 2012 Delivered 485% reserve replacement from all sources at a drill-bit F&D cost of $10.93 per Boe Reiterating 2014 crude oil production growth target of 50%Carrizo…
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