Carrizo Oil & Gas Declares Dividend on Preferred Stock
September 18 2017 - 6:30AM
Carrizo Oil & Gas, Inc. (Nasdaq:CRZO) today
announced that its Board of Directors approved a quarterly dividend
of $9.00 per share to holders of the Company’s 8.875% Redeemable
Preferred Stock. The dividend was paid on September 15, 2017, to
holders of record on September 1, 2017. The initial preferred stock
dividend covers the partial period since the close of the
transaction, and the Company paid 100% of the preferred stock
dividend in cash.
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. The Company’s current operations are principally
focused in proven, producing oil and gas plays primarily in the
Eagle Ford Shale in South Texas, the Delaware Basin in West Texas,
the DJ Basin in Colorado, and the Marcellus Shale in
Pennsylvania.
Statements in this release that are not
historical facts, including but not limited to those related to
sales capacity, updates, closing date timing, contingent payments,
guidance, production, the estimated production results and
financial performance, effects of transactions, timing, levels of
and potential production, downspacing, oil and gas prices, drilling
and completion activities, drilling inventory, including timing
thereof, production mix, development plans, growth, hedging
activity, the Company’s or management’s intentions, beliefs,
expectations, hopes, projections, assessment of risks, estimations,
plans or predictions for the future, results of the Company’s
strategies and other statements that are not historical facts are
forward-looking statements that are based on current expectations.
Although the Company 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 assumptions regarding well
costs, estimated recoveries, pricing and other factors affecting
average well returns, results of wells and testing, failure of
actual production to meet expectations, performance of rig
operators, spacing test results, availability of gathering systems,
costs of oilfield services, actions by governmental authorities,
joint venture partners, industry partners, lenders and other third
parties, actions by purchasers or sellers of properties,
satisfaction of closing conditions and failure of disposition to
close, purchase price adjustments, integration, WTI price levels,
and other risks and effects of acquisitions, market and other
conditions, risks regarding financing, availability of well
connects, capital needs and uses, commodity price changes, effects
of the global economy on exploration activity, results of and
dependence on exploratory drilling activities, operating risks,
right-of-way and other land issues, availability of capital and
equipment, weather, and other risks described in the Company’s Form
10-K for the year ended December 31, 2016 and its other filings
with the U.S. Securities and Exchange Commission.
Source: Carrizo Oil & Gas, Inc.
Contact:Jeffrey P. Hayden, CFA, VP -
Investor Relations(713)
328-1044Kim Pinyopusarerk, Manager - Investor
Relations(713) 358-6430
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