Carrizo Oil & Gas, Inc. Prices Public Offering of Common Stock
February 14 2008 - 6:30AM
PR Newswire (US)
HOUSTON, Feb. 14 /PRNewswire-FirstCall/ -- Carrizo Oil & Gas,
Inc. (NASDAQ:CRZO) today reported that it has priced an
underwritten public offering of 2,250,000 shares of its common
stock (or 8% of total shares outstanding) under an effective shelf
registration statement at a price to the public of $54.50 per
share. The underwriters will have an option to purchase up to an
additional 337,500 shares from Carrizo to cover any
over-allotments. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030523/CRZOLOGO ) Carrizo
intends to use the proceeds from the offering primarily to
partially fund its leasing and drilling program, including
accelerating its Barnett Shale leasing and drilling activities in
southeast Tarrant County. Pending such use, Carrizo intends to use
a portion of the net proceeds to repay the outstanding principal
amount under its revolving credit facility. RBC Capital Markets and
JPMorgan are serving as joint bookrunning managers for the
offering. Copies of the prospectus for the offering may be obtained
from the offices of RBC Capital Markets Corporation, Equity Capital
Markets, One Liberty Plaza, NY, NY 10006 or J.P. Morgan Securities
Inc., Prospectus Library, 4 Chase Metrotech Center, CS Level,
Brooklyn, NY 11245. This Press Release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such
offer, solicitation or sale of these securities would be unlawful
prior to registration or qualification under the securities laws of
any such state. Carrizo Oil & Gas, Inc. is a Houston-based
energy company actively engaged in the exploration, development,
exploitation and production of oil and natural gas primarily in the
Barnett Shale area in North Texas and in proven onshore trends
along the Texas and Louisiana Gulf Coast regions. Carrizo is also
engaged in exploration activities in the UK North Sea. Carrizo
controls significant prospective acreage blocks and utilizes
advanced 3-D seismic techniques to identify potential oil and gas
reserves and drilling opportunities. Statements in this news
release, including but not limited to those relating to the closing
of the offering, use of proceeds and other statements that are not
historical facts are forward looking statements that are based on
current expectations. Although Carrizo believes that its
expectations are based on reasonable assumptions, it can give no
assurance that these expectations will prove correct. Important
factors that could cause actual results to differ materially from
those in the forward-looking statements include satisfaction of
closing conditions, results of operations, market conditions,
capital needs and uses and other risks described in Carrizo's Form
10-K for the year ended December 31, 2006 and its other filings
with the Securities and Exchange Commission. Contact: Carrizo Oil
& Gas, Inc. B. Allen Connell, Director of Investor Relations
Paul F. Boling, Chief Financial Officer (713) 328-1000
http://www.newscom.com/cgi-bin/prnh/20030523/CRZOLOGO
http://photoarchive.ap.org/ DATASOURCE: Carrizo Oil & Gas, Inc.
CONTACT: B. Allen Connell, Director of Investor Relations, or Paul
F. Boling, Chief Financial Officer, both of Carrizo Oil & Gas,
Inc., +1-713-328-1000
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