Carrizo responds to activist investor
Hedge fund Lion Point Capital has filed a Form 13D showing beneficial ownership of approximately 4.7 million shares of Carrizo Oil & Gas (stock ticker: CRZO; $CRZO) that the filing said was worth north of $65 million. That gives Lion Point a little more than 6% of the one billion-dollar (market cap) E&P.

In the filing Lion Point said it has had talks with management of Carrizo, and it listed some specific requests, namely:

Increase the size and scale of the Issuer’s operations in the Permian basin;
Enhance the Issuer’s cashflow through overhead and operational cost savings;
Reduce the Issuer’s leverage profile to improve valuation and reduce risk; and
Facilitate a detailed stra...

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