Carrizo Enters $82.5 Million Niobrara Joint Venture

By Staff,

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Carrizo Oil & Gas, Inc. ( CRZO ) has entered into a joint venture agreement with subsidiaries of OIL India Ltd. and Indian Oil Corporation Ltd.

Pursuant to the agreement, OIL and Indian Oil Corp. have together acquired an undivided 30% non-operated interest in substantially all of Carrizo's assets and operations prospective for Niobrara Formation oil development located primarily in Weld and Adams Counties, Colorado for approximately $82.5 million.

CRZO rose 3% to $25.83 in the after-hours market, moving closer to year high $31.62.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CRZO

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