CARRIZO OIL & GAS, INC. (NASDAQ:CRZO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement.
On March 27, 2019, Carrizo Oil & Gas, Inc. (the “Company”) entered into a fourteenth amendment to the credit agreement governing its revolving credit facility (the “Amendment”) to, among other things (i) establish the borrowing base at $1.35 billion, with an elected commitment amount of $1.25 billion, until the next redetermination thereof, (ii) amend the definition of Current Ratio, and (iii) amend certain other definitions and provisions. The capitalized terms that are not defined in this description of the Amendment, shall have the meaning given to such terms in the credit agreement.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached as Exhibit 10.1 to this report and incorporated by reference herein.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
CARRIZO OIL & GAS INC Exhibit
EX-10.1 2 ex101fourteenthamendmentto.htm EXHIBIT 10.1 Exhibit EXHIBIT 10.1FOURTEENTH AMENDMENTTOCREDIT AGREEMENTDATED AS OF MARCH 27,…
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About CARRIZO OIL & GAS, INC. (NASDAQ:CRZO)
Carrizo Oil & Gas, Inc. is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania. The Company has a total production of over 13.4 million barrels of oil equivalent (MMBoe) per year. The Company’s proved reserves of over 170.6 MMBoe are over 64% crude oil, 12% natural gas liquids (NGLs) and 24% natural gas. It operates over 90% of the wells in Eagle Ford in which it holds an interest. It holds an average interest of over 88% in these operated wells. It owns leases covering approximately 291,610 gross (165,470 net) acres in the Eagle Ford, Niobrara, Utica and the Delaware Basin areas. It operates over 70 gross wells drilled in the Eagle Ford.
