Michael Filloon
Oil & gas, energy, hedge fund manager, commodities

Bakken Update: Carrizo Beats On The Top And Bottom Line In Q2

Carrizo (NASDAQ:CRZO) beat on the bottom and top lines in Q2. EPS came in at $.61/share versus the Street's estimate of $.53/share. It reported revenues of $134.22 million, which beat by $5.49 million. Carrizo reported record oil production, up 26% sequentially and 54% year over year. Total production was also a record, up 6% sequentially and 7% with respect to Q2 of 2012. It beat the high end of company guidance by 550 crude barrels. Natural gas and NGL production came in the midpoint of guidance. 79% of revenues were from oil. Carrizo also raised its 2013 oil production growth target from 40% to 45%. Oil production exceeded the high end of company estimates in Q2, which prompted...

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