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. During the earnings call for 1Q17, Carrizo CEO S.P. “Chip” Johnson announced Carrizo is putting up their Marcellus/Utica assets for sale–both wells and leases. Yesterday Carrizo issued its second quarter update, holding a conference call to discuss the past three months. What do we learn from it relative to the Marcellus/Utica? Essentially, the company continues on the path of trying to sell their Marcellus/Utica assets. One questioner asked about the company “choking back” production in the Marcellus/Utica–what would it be if they didn’t restrict production? Answer: 180-190 million cubic feet per day…
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. During the earnings call for 1Q17, Carrizo CEO S.P. “Chip” Johnson announced Carrizo is putting up their Marcellus/Utica assets for sale–both wells and leases. Yesterday Carrizo issued its second quarter update, holding a conference call to discuss the past three months. What do we learn from it relative to the Marcellus/Utica? Essentially, the company continues on the path of trying to sell their Marcellus/Utica assets. One questioner asked about the company “choking back” production in the Marcellus/Utica–what would it be if they didn’t restrict production? Answer: 180-190 million cubic feet per day…