Carrizo Communications

Description

We have grown our production and reserves over the last 10+ years by focusing on horizontal drilling and completion in unconventional resource plays. We are an industry leader in horizontal development drilling, having drilled and completed hundreds of extended reach horizontal wells in a number of different shale plays.

"We continue to expand our deep inventory of oily drilling locations through a combination of lease acquisitions and downspacing. Since year-end, we've added approximately 5,500 net acres in the Eagle Ford Shale and 4,200 net acres in the Utica Shale. We've also confirmed downspacing to at least 60 acres in the Niobrara. This more than offsets the locations we plan to drill this year.

Extending from Canada into New Mexico, the Niobrara is represented in northeastern Colorado by a calcareous shale with high-in-place organic content similar to Texas' Austin Chalk. This brittle marl is highly fractured in some areas and has been a prolific producer of oil when this fractured reservoir has been developed using horizontal drilling technology. Carrizo's land position is concentrated in Weld and Morgan Counties where Niobrara wells produce oil with little associated gas.

The sediments described as the Niobrara Formation were deposited in the deeper portion of the Western Interior Seaway during the late Cretaceous period. Extending from Canada into New Mexico, the Niobrara is represented in northeastern Colorado by a calcareous shale with high-in-place organic content similar to Texas' Austin Chalk. This brittle marl is highly fractured in some areas and has been a prolific producer of oil when this fractured reservoir has been developed using horizontal drilling technology.

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