Carrizo Oil and Gas (NASDAQ:CRZO) Posts Q2'14 Update
Note: In the wake of the quarter, we are updating pieces on some of our owned names where the reporting day was particularly busy and where we wanted to review the story as a whole.
Quick Prenutshell: Carrizo is an oily-getting-oilier story driven by growth from its Eagle Ford segment (60% of Q2'14 volumes), with volumes also ramping in the Niobrara now (nice operated wells - see below) and near-term catalysts coming from both the Niobrara and Utica. A new position in the Permian may offer additional interest in 2015. Margins will be expanding, and we see the name as inexpensive for what you get: 57% oil growth this year,...
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