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Baker Botts Represents Carrizo Oil & Gas, Inc. in Public Offering of 9,500,000 Shares of its Common Stock

Release
Deal Description: August 14, 2018 – Carrizo Oil & Gas, Inc. (Nasdaq:CRZO) (“Carrizo”) announced that it has priced an underwritten public offering of 9,500,000 shares of its common stock at a price to the public of $23.00 per share. The total gross proceeds of the offering (before underwriters’ discounts and commissions and estimated offering expenses) will be approximately $218.5 million.

Carrizo intends to use the net proceeds from the offering to fund the purchase price for the pending acquisition of assets from Devon Energy Production Company, L.P., as described in Carrizo’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 14, 2018, that is due at closing, and for general corporate purposes, including funding future potential acquisitions or a portion of its 2018 capital expenditure plan. Pending such uses, Carrizo intends to use the net proceeds from the offering to reduce borrowings under its revolving credit facility. If the pending acquisition is not consummated, Carrizo intends to use net proceeds from the offering for general corporate purposes, including funding future potential acquisitions or a portion of its 2018 capital expenditure plan.

Baker Botts L.L.P. represented Carrizo in the public offering.

Baker Botts Lawyers/Office Involved: 

Gene Oshman (Partner, Houston); Travis Wofford (Partner, Houston); Lakshmi Ramanathan (Associate, Houston); Sunil Jamal (Associate, Houston); Steven Lackey (Associate, Houston); Jon Lobb (Partner, Houston)

This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

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