One-Page Deal Sheet
Carrizo Sells Barnett Interest To Sumitomo
Sumitomo Corp Carrizo Oil & Gas Inc.
Announced Date
December 15,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
16
Asset/Basin:
{"Barnett Shale","Fort Worth Basin"}
TargetZones:
{"Barnett Shale"}
Transaction Details: Subscribe to see
Carrizo Oil & Gas, announced the sale of an interest in a portion of its core Barnett Shale acreage to a subsidiary of Sumitomo Corporation for $15.7 million. Sumitomo has purchased on a promoted basis, a one-eighth (12.5%) interest in 16 Carrizo Barnett drilling units, including six recently completed wells with a current production rate net to Sumitomo of 1.25 million cubic feet per day.
As part of this agreement, Sumitomo will participate on a promoted basis in the completion of 18 drilled wells and the drilling and completion of 12 more wells under similar terms. In addition, Sumitomo…
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