Carrizo Oil & Gas (CRZO) Tops Q2 EPS by 16c; Increases Production Outlook

Carrizo Oil & Gas (NASDAQ: CRZO) reported Q2 EPS of $0.29, $0.16 better than the analyst estimate of $0.13. Revenue for the quarter came in at $107.3 million versus the consensus estimate of $119.67 million.

Carrizo is increasing its 2016 oil production guidance to 25,150-25,400 Bbls/d from 24,800-25,300 Bbls/d previously. Using the midpoint of this range, the Company’s 2016 oil production growth guidance is 10%. For natural gas and NGLs, Carrizo is increasing its 2016 guidance to 64-66 MMcf/d and 4,600-4,700 Bbls/d, respectively, from 54-60 MMcf/d and 4,000-4,200 Bbls/d. For the third quarter of 2016, Carrizo expects oil production to be 24,000-24,400 Bbls/d, and natural gas and NGL production to be 56-60 MMcf/d and 4,100-4,300 Bbls/d, respectively. A full summary of Carrizo’s guidance is provided in the attached tables.

For earnings history and earnings-related data on Carrizo Oil & Gas (CRZO) click here.

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