- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Carrizo Oil & Gas Sells Interest in the Huntington Field in the UK North Sea for $184 Million
Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) announced that it is selling its wholly owned subsidiary Carrizo UK Huntington Limited, and all of its interest in the Huntington Field in the UK North Sea to a subsidiary of Iona Energy Inc. (TSXV:INA) for a cash consideration of $184 million
Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) announced that it is selling its wholly owned subsidiary Carrizo UK Huntington Limited, and all of its interest in the Huntington Field in the UK North Sea to a subsidiary of Iona Energy Inc. (TSXV:INA) for a cash consideration of $184 million.
As quoted in the press release:
Carrizo expects to net approximately $116 million, after payment of approximately $70 million to retire and close our UK credit facility, working capital adjustments and transaction related costs. This transaction is expected to close on or before the end of January, and is subject to customary closing conditions and purchase price adjustments.
Carrizo’s President and CEO, S. P. “Chip” Johnson, said:
Now that the project is close to first production and its value much more tangible, our reinvestment opportunities for the net proceeds from this sale are so compelling that we have made the decision to harvest our investment. We expect to apply the net proceeds of this transaction to fund a portion of our 2013 capital investment needs and for other general corporate purposes.
Outlook Reports
Featured Stocks
Browse Companies
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 2394.47 | +17.70 | |
Silver | 28.88 | +0.42 | |
Copper | 4.29 | +0.03 | |
Oil | 86.27 | +0.68 | |
Heating Oil | 2.70 | +0.04 | |
Natural Gas | 1.77 | +0.01 |
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.