Carrizo Oil & Gas, Inc. has commenced an underwritten public offering of 1,900,000 shares of its common stock under an effective shelf registration statement. The underwriters will have an option to purchase up to an additional 285,000 shares from Carrizo to cover any over-allotments. Carrizo intends to use the proceeds from the offering primarily to implement its leasing and drilling program, including accelerating its Barnett Shale leasing and drilling activities in southeast Tarrant County. Pending such use, Carrizo intends to use a portion of the net proceeds to repay the outstanding principal amount under its revolving credit facility.
RBC Capital Markets and JPMorgan are serving as joint bookrunning managers for the offering. Copies of the preliminary prospectus for the offering may be obtained from the offices of RBC Capital Markets Corporation, Equity Capital Markets, One Liberty Plaza, New York, NY 10006 or J.P. Morgan Securities Inc., Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245.
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