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HOUSTON--(BUSINESS WIRE)-- Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) today provided an update on the Company’s operations for the third quarter.
Production volumes during the third quarter of 2019 are currently expected to be 69,500-69,600 Boe/d, an increase of approximately 6% from the second quarter. Crude oil production is expected to account for approximately 66% of the Company’s production during the quarter, while natural gas and NGLs are expected to account for approximately 18% and 16%, respectively.
During September, Carrizo took advantage of the rally in commodity prices to add to its 2020 hedge position. The Company added hedges covering 10,000 Bbls/d of crude oil for 2020, consisting of three-way collars with an average floor price of $55.00/Bbl, ceiling price of $64.10/Bbl, and sub-floor price of $45.00/Bbl. This brings the Company’s total hedge position for the year to 25,000 Bbls/d, consisting of swaps covering 3,000 Bbls/d of crude oil at an average fixed price of $55.06/Bbl and three-way collars covering 22,000 Bbls/d with an average floor price of $55.34/Bbl, ceiling price of $65.16/Bbl, and sub-floor price of $45.34/Bbl.
About Carrizo
