Carrizo Enters $82.5 Million Niobrara Joint Venture

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.