Carrizo Oil & Gas, a Houston-based driller, actively drills in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Niobrara Formation in Colorado, and until mid-year in 2015, they did have an active drilling program in the Ohio Utica and Pennsylvania Marcellus. No more. They haven’t drilled in Appalachia since 3Q15. According to Carrizo’s latest quarterly update for 4Q16 (and full year 2016), the situation continues. However, there is new news: On an earnings call yesterday, Andy Agosto, vice president of business development for Carrizo, fielded a question about the company’s Marcellus/Utica acreage. He said they get offers to sell their acreage “all the time” and in fact have had discussions with their bankers about the value of their Appalachian assets and about whether or not they should sell. It sounds to us, from the exchange, like Carrizo is actively considering a sale of their Marcellus/Utica acreage–some of it, if not all of it…
Carrizo Oil & Gas, a Houston-based driller, actively drills in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Niobrara Formation in Colorado, and until mid-year in 2015, they did have an active drilling program in the Ohio Utica and Pennsylvania Marcellus. No more. They haven’t drilled in Appalachia since 3Q15. According to Carrizo’s latest quarterly update for 4Q16 (and full year 2016), the situation continues. However, there is new news: On an earnings call yesterday, Andy Agosto, vice president of business development for Carrizo, fielded a question about the company’s Marcellus/Utica acreage. He said they get offers to sell their acreage “all the time” and in fact have had discussions with their bankers about the value of their Appalachian assets and about whether or not they should sell. It sounds to us, from the exchange, like Carrizo is actively considering a sale of their Marcellus/Utica acreage–some of it, if not all of it…