HOUSTON, October 28, 2014 -- On October 27, 2014, Carrizo Oil & Gas, Inc. (Nasdaq:CRZO) announced that it completed the acquisition of additional leasehold and producing interests in the Eagle Ford Shale from Eagle Ford Minerals, LLC (“EFM”), for $250 million in cash, subject to a closing adjustments, as well as an update to its third quarter guidance. The acquisition represents an approximate 25% working interest in certain Eagle Ford Shale properties
that were already operated by Carrizo. Following the closing of the transaction, Carrizo holds an approximate 100% working interest in these assets. The acquired properties are in three main project areas (RPG, Irvin Ranch, and Pena) which are centrally located in the most prospective portion of the Eagle Ford Shale’s volatile oil window.
On October 28, 2014, Carrizo announced a $300 million principal amount debt financing to help finance the acquisition.
Baker Botts represented Carrizo in both transactions.
Baker Botts Lawyers/Office Involved:
-- Acquisition: Gene Oshman (Partner, Houston); Jeremy Kennedy (Partner, Houston); Ausra Laurusaite-Kromelis (Associate, Houston); Erin Hopkins (Associate, Houston); Brian Finch (Associate, Houston); James Chenoweth (Partner, Houston)
-- Debt Financing: Gene Oshman (Partner, Houston); Hillary Holmes (Partner, Houston); Travis Wofford (Associate, Houston); Andrew Thomison (Associate, Houston); Ori Lev (Associate, Houston); Lakshmi Ramanathan (Associate, Houston)
# # #
About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 700 lawyers practicing throughout a network of 15 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Throughout our 174-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit BakerBotts.com.