Carrizo follows onshore oil rush

related stories

Noah Brenner

 08 April 2010 22:21 GMT

US independent Carrizo Oil & Gas is the latest unconventional specialist to shift its gaze from natural gas to oil plays.



The Houston-based company said its strategy moving forward would be to focus on liquids-rich horizons in gas plays like the Eagle Ford shale in West Texas and oil-bearing shale formations such as the Niobrara, which straddles Wyoming and Colorado.

Carrizo plans a to boost its capital budget from the previously announced target of $170 million to $225 million.

The increase will focus on two acreage buys.

The first $30 million will tie up Eagle Ford acreage in and around LaSalle County, Texas.

Carrizo has already secured 6800 acres there this year.

Another $25 million…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index