HOUSTON–(BUSINESS WIRE)–Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) today provided the following statement in response to the schedule 13D filed by Lion Point Capital.
Carrizo welcomes regular and thoughtful engagement with its shareholders and seriously considers all suggestions that may enhance shareholder value. While the Company has a history of robust shareholder communications, Carrizo does not comment on specific discussions with shareholders.
Carrizo’s Board and management team are focused on creating shareholder value by executing on the Company’s strategy of driving free cash flow by generating prudent, high-return production growth and reducing leverage. While the Company believes that its significant drilling inventory in two of the highest-return plays in North America positions it to deliver on these goals in the current pricing environment, its Board and management team will continue to evaluate any and all opportunities, including transactions with other companies, that could generate superior returns for shareholders.
Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Our current operations are principally focused in proven, producing oil and gas plays primarily in the Eagle Ford Shale in South Texas and the Permian Basin in West Texas.