Helping results: production from Barnett shale:
Carrizo narrows losses
Independent oil and gas company Carrizo Oil & Gas posted a fourth-quarter adjusted profit that beat market expectations, helped in part by an increase in production volumes.
The company's net loss for the quarter ended 31 December was $68.5 million, or $2.20 per share, compared with loss of $92.7 million, or $3.01 per share, in the year-ago quarter.
Excluding items, the company earned 37 cents per share.
Revenue rose 4% to $37.5 million.
Analysts on an average were expecting earnings of 32 cents per share, before items, on revenue of $48.3 million, according to Thomson Reuters.
Quarterly production was up 20% to 8.7 billion cubic feet equivalent, mainly helped by new production contributions from the Barnett Shale development, the company said in a statement.
