Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Carrizo Trims CapEx Slightly for 2014; Bets Bulk on Eagle Ford
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Carrizo Oil & Gas, Inc. has detailed an update on the company's current operations and future plans.
Highlights: Increasing 2014 crude oil production growth target to 50% from 40%+ Reporting preliminary Q4 crude oil production of 13,029 Bbl/d, above the high-end of guidance Increasing average Eagle Ford Shale per-well EURs to 523 MBoe from 495 MBoe Decreasing average expected Eagle Ford Shale well costs to $7.5 million from $8.0 million Reporting continued strong performance from the Rector 1H well in the Utica Shale, with current rates running approximately 500 Bbl/d of condensate, 1.9 MMcf/d of residue gas, and 95 Bbl/d of NGLs, assuming ethane rejection and a natural gas shrink of 7%, or 906 Boe/d on a 14/64 in. choke.S.P. "Chip" Johnson, IV, Carrizo's President and CEO, commented, "…
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