Carrizo to Sell Certain Non-Core Assets for $268M

Carrizo Oil & Gas, Inc.

today announced the sale of its remaining Barnett Shale properties as well as other non-core assets in East Texas and the Marcellus Shale. The company also announced plans to participate in upcoming conferences. Overview of Transactions Carrizo has agreed to sell certain non-core assets, including substantially all of its remaining Barnett Shale assets, as well as all of its interest in the Camp Hill Field in East Texas and certain undeveloped acreage in the Marcellus Shale, for total consideration of approximately $268 million, including aggregate cash proceeds of approximately $250.4 million, subject to customary closing conditions and purchase price adjustments, and the assumption by the buyers of certain liabilities and contractual commitments. The Company intends to use the net proceeds from these sale transactions to repay borrowings under its revolving credit facility as well as to fund a portion of the remainder of its 2013 capital expenditures program, largely in the Eagle Ford Shale.