Press

Carrizo Oil & Gas Announces Closing of Eagle Ford Shale Divestiture and Partial Redemption of Its 7.50% Senior Notes Due 2020


HOUSTON --(BUSINESS WIRE)-- Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) today announced that it closed the previously-announced sale of a portion of its assets in the Eagle Ford Shale on January 31, 2018 . Carrizo received approximately $212 million at closing, subject to post-closing adjustments; this excludes the previously-received deposit of $24.5 million . Including the previously-received deposit as well as the resolution of the post-closing adjustments, Carrizo currently expects the total received proceeds to be approximately $246 million .

On January 31, 2018 , Carrizo also delivered a notice to the trustee for its 7.50% Senior Notes due 2020 (CUSIP No. 144577 AF0) (the “notes”) under which it called for redemption on March 2, 2018 , $220 million aggregate principal amount of the outstanding notes. This is in addition to the currently pending partial redemption of $100 million aggregate principal amount of notes scheduled to occur on February 18, 2018 . The $220 million of notes called for redemption represents approximately 49% of the aggregate principal amount of this series of outstanding notes as of today and approximately 63% of the aggregate principal amount of the notes that will be outstanding following completion of the previously-announced redemption of the $100 million aggregate principal amount of notes.

The notes will be redeemed at a price of 101.875% of the principal amount thereof plus accrued and unpaid interest on the notes to be redeemed to the redemption date. Selection of the notes for redemption will be made by the trustee in accordance with the terms of the indenture governing such notes based on The Depository Trust Company's method that most nearly approximates pro rata selection unless otherwise required by law; provided, that notes and portions of notes selected shall be in amounts of $2,000 or whole multiples of $1,000 in excess of $2,000 , except that if all of the notes of a registered holder are to be redeemed, the entire outstanding amount of notes held by such registered holder, even if not a multiple of $1,000 , shall be redeemed.

This news release shall not constitute a notice of redemption with respect to or an offer to purchase or sell (or the solicitation of an offer to purchase or sell) any securities.

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 . Our current operations are principally focused in proven, producing oil and gas plays primarily in the Eagle Ford Shale in South Texas and the Permian Basin in West Texas .


Visit source site

https://carrizo.com/investor-relations/news/press-...

Carrizo Oil & GasNasdaqEagle FordShaleEagle Ford ShaleDivestment

More items from oilvoice


Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 2 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 2 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 2 months agoPress > TotalDividend

Methyl Tertiary Butyl Ether Capacity Will Grow at a CAGR of 16.8% in India Over Next Four Years, says GlobalData

India's Methyl Tertiary Butyl Ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 0.211 million tons per annum (mtpa) in 2017 to 0.460 mtpa in 2022, according to GlobalData , a leading data and analytics company. The company's report: ‘ Met ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataIndiaMTBE
All posts from oilvoice