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Carrizo Oil & Gas, Inc. (CRZO) Updates Operations in United States and Europe

|Includes: Carrizo Oil & Gas, Inc. (CRZO)

Carrizo Oil & Gas, Inc. issued an operational update on the company’s recent activity related to the development of various oil and gas properties in its portfolio. The company is active in both the United States and Europe.

Carrizo Oil & Gas has leasehold in Colorado that is prospective for the Niobrara Shale and is operating one rig in the play. The company recently reached total depth on its fourth Niobrara well and will commence completion operations on this well sometime in June 2011. The rig has moved onto another location and started drilling operations at that site.

Carrizo Oil & Gas, Inc. is developing the Marcellus Shale on acreage in Pennsylvania, and has eight gross wells waiting on completion. The company expects hydraulic fracturing capacity to be available in July 2011 and will start completion operations on this backlog at that time.

Carrizo Oil & Gas is working on the Huntington Field located in the United Kingdom portion of the North Sea. The company has mobilized a jack up rig to this field and has set surface casing for the planned development. Carrizo Oil & Gas, Inc. expects first production from this field in early 2012.

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