Market Overview

Carrizo Oil & Gas Reports Initial Utica Shale Well Results

HOUSTON, Jan. 16, 2014 (GLOBE NEWSWIRE) -- Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) today announced results from its initial Utica Shale well, the Rector 1H.

Summary highlights

The Rector 1H tested at a peak rate of 1,680 Bbl/d of condensate, 5.2 MMcf/d of residue gas, and 266 Bbl/d of NGLs, assuming ethane rejection and a natural gas shrink of 7%, or 2,816 Boe/d on a 24/64 in. choke.

Utica Shale Update

Earlier this month, Carrizo brought its initial Utica Shale well, the Rector 1H in Guernsey County, Ohio, online after its resting period. The Rector 1H was drilled to a true vertical depth of 7,456 ft. with an effective lateral of 7,890 ft. and was completed with 31 frac stages. The well tested at a peak gross rate of 1,680 Bbl/d of condensate and 5.6 MMcf/d of rich natural gas with a Btu content of 1,248 on a 24/64 in. choke. In ethane rejection mode, the gas stream is expected to yield 47 Bbl/d of NGLs per MMcf of gas and result in a natural gas shrink of 7%. Assuming full ethane recovery, the gas stream is expected to produce 111 Bbl/d of NGLs per MMcf of gas and result in a natural

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Posted-In: News Guidance Contracts Management Global

 

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