Oil India Ltd. and Indian Oil Corp. jointly purchase a 30% stake in Carrizo Oil & Gas'...

|About: Carrizo Oil & Gas, Inc. (CRZO)|By:, SA News Editor

Oil India Ltd. and Indian Oil Corp. jointly purchase a 30% stake in Carrizo Oil & Gas' (CRZO) Niobrara shale assets in Colorado for $82.5M. CRZO holds 61,500 gross acres in the Niobrara basin, of which the Oil India-IOC consortium will have 18,450 acres. The deal marks the first investment by the Indian state companies in U.S. shale assets. CRZO +3.3% premarket.