Carrizo nets Haimo deal

By Noah Brenner

 01 November 2012 23:59 GMT

US INDEPENDENT Carrizo Oil & Gas has signed a $27.5 million joint venture with a subsidiary of Chinese player Lanzhou Haimo Technologies in the Niobrara tight oil play in Colorado.

The cash deal will see Haimo take an undivided interest in about 6000 net acres in Weld and Adams counties in the Denver-Julesburg basin, including net production of about 185 barrels of oil equivalent per day.

The sale, due to take effect from 1 October once passed, is subject to regulatory approvals both in the US and by the Chinese government, Carrizo said.

It is the second joint venture in the Niobrara for Carrizo in as many months. The company earlier signed an $82.5 million deal with Oil India and Indian Oil for…

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