One-Page Deal Sheet
Carrizo Sells North Sea Focused Subsidiary to Iona Energy
Iona Energy Inc. Carrizo Oil & Gas Inc.
Announced Date
December 28,2012
Close Date
February 22,2013
Transaction Type
Corporate
Enterprise Value (EV)($MM)
184
Asset/Basin:
{"UK North Sea"}
TargetZones:
{"Paleocene Forties"
Transaction Details: Subscribe to see
Carrizo Oil & Gas, Inc. today announced that it has entered into a definitive agreement to sell its wholly owned subsidiary Carrizo UK Huntington Limited, and all of its interest in the Huntington Field in the UK North Sea to a subsidiary of Iona Energy Inc. for a cash consideration of $184 million. Carrizo expects to net approximately $116 million, after payment of approximately $70 million to retire and close our UK credit facility, working capital adjustments and transaction related costs. This transaction is expected to close on or before the end of January, and is subject to customary…
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