Carrizo Gets a Bump Up in Line of Credit, Declines Most of It

The banks who lend money to Carrizo Oil & Gas, a Marcellus/Utica driller, have taken a look at the company and its assets and have determined that instead of a “borrowing base” (or line of credit) worth $570 million, Carrizo has done well enough that they’re ready to goose it up to a credit line of $675 million–a nice $105 million increase. (Maybe we should bank where Carrizo does!) Carrizo has said “hold on there a minute pardner, we’re just gonna increase it another $15 million for now.” And so Carrizo’s line of credit is now worth $585 million…

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