What’s Up with Carrizo Top Mgmt Continued Selling of Co. Stock?
Carrizo Oil & Gas CEO Chip Johnson continues to sell off his company stock. On June 1, Johnson sold 24,661 shares of company stock for $1.2 million. A few days later, on June 5, he sold another 6,000 shares for $309,000. Then again on September 8, Johnson sold another 6,000 shares netting him $217,000. And on October 5, Johnson sold yet another tranche of 6,000 shares, this time for $227,040 (see Carrizo O&G CEO Chip Johnson Continues to Sell His Company Stock). In an “Oops, I did it again,” Johnson sold another tranche of 6,000 shares earlier this week–this time for $193,440. That makes the grand total of Johnson’s stock sales 48,661 shares since June for a grand total of $2.1 million. But Johnson isn’t the only Carrizo top dog to sell. Others have sold their shares, including board member Roger Ramsey who this week sold 1,000 shares for $33,310. This is the third time–that we know of–that Ramsey has sold stock in the company he helps oversee (see Carrizo CEO Chip Johnson Sells Another 6K Shares of Stock and Carrizo Oil & Gas “Insiders” Continue to Sell Company Stock). We have to ask, what in the world is going on at Carrizo that top management continues to sell off their stock?…
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The United Nations COP21 Climate Conference in Paris is attracting some of the craziest of the climate crazies. And they’re from the northeast, no less! A group of college kids–know-nothings–interrupted a panel discussion that included Vermont’s Democrat Governor Peter Shumlin because, they say, the guv is supporting a pipeline that will bring “fracked gas” to the state. We call them clinically insane. If they knew how many pipelines already exist beneath Vermont soil that flow natural gas, we expect they would have an aneurysm. During the panel two of the know-nothings stood up and unfurled a big banner that said Fracked Gas = Climate Change, complete with a kindergartenish drawing that depicts fractures reaching up into the water table (which doesn’t happen–ever). In our day and age of blaming your asinine actions on your parents, or your teachers, or even on cartoons–we’ll blame it on the cartoons. We expect these kids grew up watching Captain Planet on Saturday mornings and believed it hook, line and sinker. Here’s the story of spoiled rotten kids behaving like…spoiled rotten kids….
It’s not often we have the pleasure of announcing the birth of a new company–in particular a new drilling company in the Marcellus/Utica in what has to be the worst economic conditions in a generation in the industry. But, pop the cork on the champagne and break out the cigars! A group of former EQT executives have just launched LOLA Energy with a $250 million investment from private equity firm Denham Capital. The new company is headquartered in Wexford (Pittsburgh area), PA and has already begun leasing land in the Marcellus/Utica. Company execs say they expect to create 10 to 20 new jobs in the Pittsburgh area over the next year. LOLA’s CEO is Jim Crockard, former senior vice president in charge of production for EQT. The strategy of the fledgling company is to pick up good properties cast off by other drillers because there’s not enough money (or enough profit) to drill in this low price environment…