Carrizo Selling 25,000 Acres of Land for $245 Million

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) will be selling 25,000 acres of its Eagle Ford portfolio to a confidential buyer for $245 million.

Previously, this land has produced 3,400 barrels of oil per day in the company’s third quarter this year – which was less than 10% of Carrizo’s total output for the entire Eagle Ford area – so, presumably, the company probably isn’t too upset about parting with this particular land.

The deal is expected to be completed by the end of January next year. It will leave Carrizo with 78,500 acres of ...