Carrizo Gets $268M For Texas, Pa. Shale Assets

Law360, Houston (September 5, 2013, 5:18 PM EDT) -- Carrizo Oil & Gas Inc. has agreed to sell off vast swaths of its Texas and Pennsylvania shale holdings and other noncore assets to unidentified buyers for $268 million, the energy developer announced Wednesday.

The sales, which include the last 9,000 acres owned by Houston-based Carrizo in the Barnett Shale in northern Texas and 2,850 acres in Pennsylvania’s Marcellus Shale, will generate $250.4 million in cash and relieve the company of debt and other contractual liabilities associated with the properties, according to Carrizo.

Carrizo CEO S.P....
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