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Carrizo's 2018 Spending Up +27% on Service Costs; Oil Output Up 40% for 2017
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Carrizo reported its Q4 2017 results as well as its 2018 plans.
2018 Plans- 2018 Capex: $750-$800 million (this is up +27% from $610 million spent in 2017)
The company noted that the increase reflects an increase in oilfield service costsCapex Breakdown:
Eagle Ford: $395 million Delaware Basin: $290 million Pipeline / Infrastructure: $90 million- 2018 Production: 58,500-60,100 Boe/d, equivalent to pro forma annual growth of more than 30%
- 5-6 Rigs Running (3-4 Delaware / 2 Eagle Ford)
Q4 Highlights: Total production of 62,417 Boe/d, 39% above the fourth quarter of 2016 and above the high-end of the Company's guidance range Crude oil production of 40,206 Bbls/d, 40% above the fourth quarter of 2016 Proved reserves of 261.7 MMBoe, a 31% increase over year-end 2016 564%…- ✓ Full news archive — U.S., Canada & international coverage
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