SOURCE: Carrizo Oil & Gas, Inc.

Carrizo Oil & Gas, Inc.

September 05, 2012 08:52 ET

Carrizo Oil & Gas Announces Offering of $250 Million of Senior Notes

HOUSTON, TX--(Marketwire - Sep 5, 2012) - Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) today announced that it has commenced an underwritten public offering, subject to market and other conditions, of $250 million aggregate principal amount of senior notes due 2020 under its existing shelf registration statement. Carrizo intends to use the net proceeds from the proposed offering to repay borrowings outstanding under the Company's senior secured revolving credit facility and for general corporate purposes.

In connection with the notes offering, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, and Credit Suisse Securities (USA) LLC are acting as joint book-running managers; SG Americas Securities, LLC, Capital One Southcoast, Inc. and Credit Agricole Securities (USA) Inc. are acting as senior co-managers; and Global Hunter Securities, LLC and Mitsubishi UFJ Securities (USA), Inc. are acting as co-managers.

This offering is being made only by means of a prospectus and related prospectus supplement, which will be filed with the Securities and Exchange Commission ("SEC"). When available, a copy of the prospectus and prospectus supplement relating to the offering may be obtained for free from or from RBC Capital Markets, Attn: High Yield Capital Markets, 3 World Financial Center, 200 Vesey Street, 10th Floor, New York, NY 10281-8098, 1-877-280-1299; Wells Fargo Securities, Attn: Client Support, MAC D1086-070, 550 South Tryon Street, 7th Floor, Charlotte, NC 28202, 1-800-326-5897; or Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010, 1-800-221-1037.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the notes nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Carrizo Oil & Gas, Inc.

Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the United States and United Kingdom. Our current operations are principally focused in proven, producing oil and gas plays primarily in the Eagle Ford Shale in South Texas, the Niobrara Formation in Colorado, the Barnett Shale in North Texas, the Marcellus Shale in Pennsylvania, New York and West Virginia, the Utica Shale in Ohio and Pennsylvania, and the U.K. North Sea.

Forward-Looking Statements

Statements in this news release, including but not limited to those relating to the proposed notes offering, the use of proceeds from the notes 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 Carrizo's Form 10-K for the year ended December 31, 2011 and in Carrizo's other filings with the SEC. 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 Information

  • Contact:
    Carrizo Oil & Gas, Inc.
    Richard Hunter
    Vice President of Investor Relations
    Paul F. Boling
    Chief Financial Officer
    (713) 328-1000