Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) has priced an upsized underwritten public offering consisting of 2,800,000 shares of common stock under an effective shelf registration statement for $23.50 per share.
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The underwriters will hold an option to purchase up to an additional 420,000 shares from Carrizo in order to cover over-allotments. The net proceeds from the offering are planned to be used in repaying borrowing under its revolving credit facility.
Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in the Barnett Shale in North Texas, the Marcellus Shale in Appalachia, and in proven onshore trends along the Texas and Louisiana Gulf Coast regions.
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