Nasdaq: CRZO IPAA OGIS San Francisco Carrizo Oil & Gas, Inc. September 25, 2012
Operating Areas Net Acreage Summary Eagle Ford Shale 46,000 Niobrara Shale 61,500 Utica Shale Marcellus Barnett Shale 12,500 Niobrara Formation Shale Mid-year proved reserves of 2.4 Mid-year proved Marcellus Shale 100,595…
Reserve Growth, Production Growth, and Reserve Replacement 12/31 Proved Reserves (Mboe) Average Daily Production (Boe/d) 180.00 30,000 160.00 25,000 140.00 120.00 20,000 100.00 15,000 80.00 60.00 10,000 40.00 5,000 20.00 - -…
Liquids Strategy On Track Q2 2012 oil production was 28% sequentially higher than Q1; Q3 oil production guidance is for an additional 5% sequential growth from the midpoint Q2 2012 revenues from oil production were 75% of total…
Proved Domestic Reserves Year-End 2011 U.S. Proved Reserves (SEC) Mid-Year U.S. Proved Reserves (Internal Estimates) 4% 6% 2% 35% 38% 33% 55% Barnett Barnett Eagle Ford 3% Niobrara Eagle Ford 4% Marcellus Niobrara 19%…
Capital Program US Millions Category FY 2011 FY 2012 Est. Drilling Eagle Ford Shale 195 378 Niobrara Shale 39 60 Marcellus Shale 47 54 Barnett Shale 100 34 Total Drilling 381 526 Land , Seismic & Other 111 74 North Sea 22 0…
Current Financial Position Revolving Credit Facility (due 2016) - undrawn Facility revised May 1, 2012 to account for Barnett Atlas sale 325 MM initial borrowing base with interest rate of LIBOR + 2.75% Consortium of 9 banks led by…
Hedge Position Type of Volume Daily Volume Avg. Floor Avg. Ceiling Avg. Short Put Basis % of Q3 Gas Period Contract (MMBtu) (MMBtu/d) Price Price Put Price Spread Differential Forecast* Q3 2012 Total Volume 6,256,000 68,000 72.34%…
Carrizo Joint Ventures Carrizo Has Significant Experience in the Formation of Joint Ventures Joint venture with Avista Capital Partners in the Utica Shale, September 2011 Early stage land acquisition program in Utica condensate zone…
Eagle Ford Shale Overview Well design and expectations: Development well costs of 7.0 - 8.0 million Eagle Ford Net Production Growth (Boe) 5,000 laterals, 18 frac stages 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000…
Eagle Ford Shale Gas Condensate Window Economics Well Only Type Curve 700 140 Total well cost 7.0 MM 600 120 Reserves Gross 400 MBOE (GOR=2,000) 500 100 Average Daily Rate, BOPD Net 300 MBOE Cum Prod, MBO 400 80 F&D…
Eagle Ford Shale Well Performance Eagle Ford Well Performance - All Oil Wells Normalized for Eff. Lateral Length (Through 9/9/2012) 140000 56 130000 52 120000 48 110000 44 100000 40 90000 36 80000 32 Well Count CUM…
Eagle Ford Shale Value Components 1.33 BOE 1.6 Mcf dry residue Gas 2.80/mmbtu 2 Mcf Assoc Gas Recovered NGL NGL Liquids Per Component Pricing Revenue 2 MCF (/Gal) per Bbl Oil Wellhead Oil (Gal) Ethane 0.34 4.95 1.68 Propane…
Niobrara North-east Colorado Activity Map 61,500 net acres primarily in Weld County, CO Acreage high-graded using resistivity data from deeper wells Recently acquired 2,700 net high resistivity acres in Adams County 24 wells on…
Niobrara Value Drivers Typical Niobrara electric log Our geologic model is working Oil-in-place indicators validated by Company and industry well results and core analysis Focus on geo-steering and staying in target lower B bench…
Niobrara Economics Well Only Type Curve 800 80 Total well cost 3.6 MM 700 70 Reserves Gross 250 MBOE 600 60 (GOR=1,500) Net 200 MBOE Cum Oil (MBO) 500 50 Oil Rate (BOPD) F&D Cost 18 / BOE 400 40 IRR (1) 100 NYMEX…
Barnett Shale Overview of Carrizos Position Closed sale of 35 Mmcfed to Atlas for net 187 million 12,500 net acres remaining in the Barnett core in SE Tarrant where development economics are among best in industry YE 2011 total…
Marcellus Shale JV Operating Areas New York Marcellus JV 16K Acres (w/Avista) Operations 1 Rig drilling in NE PA acreage (40% CRZO) 21 wells producing, 14 completed waiting on C Counties pipeline; backlog of 19 wells 92.8K…
Marcellus Shale Project NE Pennsylvania Susquehanna Operations 21 wells currently producing 25 MMcf/d, net 5 wells drilled waiting on completion Plans call for 60 gross well program (operated) Laser Pipeline Gas marketer DTE has…
Marcellus Shale NE PA Economics NE PA Marcellus NE PA Type Curve 10000 4.0 Total well cost 6.8 MM 9000 3.6 8000 3.2 Net Reserves 7.0 Bcf 7000 2.8 Avg Rate (MCFD) Cum Gas (BCF) 6000 2.4 F&D Cost 0.97 / Mcf 5000…
Utica Shale Area of Activity Carrizo/Avista Utica JV Formed to acquire acres in Utica Ohio condensate zone Capitalized from 130 to 200 million Carrizo serves as operator 26,000 JV acres in southern area Sale of 19,000 JV acres in…
UK North Sea Huntington Development Project Huntington development nearing completion 4 production wells and 2 water injection wells drilled Drilling rig released 3rd Party gross reserve estimate mid-point of 42 MMBOE, 15% CRZO…
Summary Successfully executing strategy: Outstanding organic growth in reserves and production Leveraging Barnett Shale expertise into other shales Maintaining financial liquidity with JVs and asset sales 18.9 Bcf of 2012 gas…
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