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Carrizo to sell remaining Barnett Shale and other assets for $268M

  • Carrizo Oil & Gas (CRZO) agrees to sell its remaining Barnett Shale properties in addition to other non-core assets in east Texas, including its interest in the Camp Hill field and certain undeveloped acreage in the Marcellus Shale, to unidentified buyers for $268M.
  • The Barnett Shale divestiture includes about 9K net acres with year-end 2012 proved reserves of 303.5B cf.
  • CRZO plans to use the proceeds to pay down debt as well as to fund a portion of the remainder of its 2013 capex program, largely in the Eagle Ford Shale.
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