Carrizo Oil & Gas to pay down revolver with public offering proceeds

By Wendy Van Sickle

Columbus, Ohio, Oct. 15 – Carrizo Oil & Gas, Inc. plans to repay borrowings under its revolving credit facility with proceeds from a public offering of its common stock, according to a press release.

The company has commenced the public offering of 5.3 million shares with an option for its underwriters to purchase up to 795,000 additional shares.

Any remaining proceeds after the debt repayment will be used for general corporate purposes, including future potential acquisitions with a primary focus in the Permian Basin, the company said.

Carrizo is a Houston-based energy company.

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