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Carrizo estimates Q3 production climbed 6% on the quarter


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Carrizo estimates Q3 production climbed 6% on the quarter

Carrizo Oil & Gas Inc. estimated that third-quarter production ranged between 69,500 and 69,600 barrels of oil equivalent per day, up 6% from the previous quarter's production of 65,643 boe/d.

The expected volume is composed of about 66% crude oil, about 18% natural gas and about 16% natural gas liquids, according to an Oct. 16 news release from the Houston-based company.

The estimate compares with total production of 64,627 boe/d for the same period a year ago.

In July, Callon Petroleum Co. announced it will acquire Carrizo in an all-stock transaction valued at $3.2 billion.

The two companies produced a total of 106,159 boe/d during the second quarter.

The merger is expected to close during the fourth quarter.