Carrizo Prices Public Offering of Common Stock
March 16 2015 - 11:40PM
Carrizo Oil & Gas, Inc. (Nasdaq:CRZO)
announced today that it has priced an underwritten public offering
of 4,500,000 shares of its common stock at a price to the public of
$45.50 per share. Carrizo has granted the underwriters an option to
purchase up to 675,000 additional shares. Carrizo intends to use
the net proceeds from this offering, and any proceeds from the
exercise of the underwriters' option to purchase additional shares,
to repay borrowing under the revolving credit facility and general
corporate purposes.
In connection with the offering, Citigroup Global Markets Inc.
and Goldman, Sachs & Co. are serving as sole underwriters in
the offering. The offering is being made pursuant to an effective
shelf registration statement filed with the Securities and Exchange
Commission on August 28, 2014. Copies of the preliminary prospectus
for the offering may be obtained from the offices of Citigroup
Global Markets Inc., via telephone: (800) 831-9146; email:
prospectus@citi.com; or standard mail c/o Broadridge Financial
Services, 1155 Long Island Avenue Edgewood, New York 11717 and
Goldman, Sachs & Co., via telephone: (866) 471-2526; email:
prospectus-ny@ny.email.gs.com; or standard mail at Goldman, Sachs
& Co., Attn: Prospectus Department, 200 West Street, New York,
NY 10282.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of any securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Carrizo Oil & Gas, Inc. is a Houston-based energy company
actively engaged in the exploration, development, and production of
oil and gas from resource plays located in the United States.
Carrizo's current operations are principally focused in proven,
producing oil and gas plays primarily in the Eagle Ford Shale in
South Texas, the Utica Shale in Ohio, the Niobrara Formation in
Colorado and the Marcellus Shale in Pennsylvania.
Statements in this news release that are not historical facts,
including but not limited to those relating to the proposed public
offering, the use of proceeds from the proposed public offering and
other matters relating to the public offering, 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 results of
operations, market conditions, capital needs and uses and other
risks and uncertainties that are beyond Carrizo's control,
including those described in the prospectus, Carrizo's Form 10-K
for the year ended December 31, 2014 and its other filings with the
Securities and Exchange Commission. Any forward-looking statement
speaks only as of the date on which such statement is made and
Carrizo undertakes no obligation to correct or update
forward-looking information.
CONTACT: Jeffrey P. Hayden, CFA, VP - Investor Relations
(713) 328-1044
David L. Pitts, Chief Financial Officer
(713) 328-1000
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