Post Tagged with: "Niobrara shale"

Carrizo Oil and Gas Purchases 16,500 acres in the Delaware Basin; Announces $5.6 Million Net Income for Q3 2017

Carrizo Oil and Gas Purchases 16,500 acres in the Delaware Basin; Announces $5.6 Million Net Income for Q3 2017

On November 7, 2017 Carrizo Oil and Gas, Inc. (ticker: CRZO) announced the company’s financial results for Q3 and provided an update on current operations. Carrizo reported third quarter of 2017 net income attributable to common shareholders of $5.6 million, or $0.07 per basic and diluted share, compared to a net loss attributable to common shareholders of $101.2 million, or $1.72 per basic and diluted share in the third quarter of 2016. For the third quarter of 2017, Adjusted EBITDA was $132.8 million, an increase of 46% from the prior-year quarter due to higher production volumes and commodity prices. According to the company’s press release, production volumes during the third quarter of 2017 were 5,080 MBoe, or 55,224 Boe per day, an increase of 35% versus the third quarter of 2016. Operations Delaware Basin Carrizo closed their most recent Delaware acquisition in the third quarter of 2017.  Carrizo paid Exl Petroleum Management $648 million to acquire 16500[Read More…]

November 10, 2017 - 3:50 pm Closing Bell Story, Earnings, Oil and Gas 360 Articles
Graph of the Week – Cost of Living in the Oil Patch

Graph of the Week – Cost of Living in the Oil Patch

What Does $3,500 a Month Rent Get You in the Oil Patch? If you know anyone looking for an oilfield job, they might pick their basin by looking at how much the monthly rent for a home, apartment or condo is going to set them back. The Bakken wins the “High Rent District” award for a 3-BR modular duplex home with a “two truck garage” going for $3,500 a month in Watford, North Dakota. On a more modest scale, the Niobrara won “Most Affordable Rent” with a 1-BR condo in Greeley, Colorado going for $900 a month. The Denton, Texas example was a 5-BR single family home available for $1,800, while the Marcellus offered a 2-BR downtown Pittsburgh apartment for $1,580 a month. [sam_ad id=”32″ codes=”true”]   Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness[Read More…]

October 21, 2014 - 8:08 pm Chart of Week, Oil and Gas 360 Articles