Carrizo Oil holds tight on Permian purchase

摘要

CARRIZO OIL & GAS increased its landholdings in the Permian basin through a US$215m, all-cash acquisition of acreage from Devon Energy. The acquisition, funded with an overnight stock sale, is part of a broader consolidation across the Permian, the US's largest oilfield. One hang-up is that oil production in the basin is growing faster than the transport infrastructure, resulting in lower realised prices relative to benchmark WTI.