Carrizo O&G provided the following update on its operations.

In the Niobrara Formation in Weld and Morgan Counties, Colorado: Carrizo's first Niobrara well, the State 16-11-9-60, was production tested over December 26 and 27 at controlled rates of over 690 barrels of oil per day (552 BOPD net)

The State 16-11-9-60 is currently producing at a stable gross rate of approximately 530 BOPD

The next Niobrara well scheduled for hydraulic fracture stimulation, the Bob White 36-44-8-62, is expected to begin fracing on January 12th

Carrizo currently owns approximately 61,000 net acres in the DJ Basin Niobrara Formation oil play

In the Eagle Ford Shale in La Salle County, Texas: Connection to gas gathering for Carrizo's three previously announced Eagle Ford oil wells has been delayed by right-of-way issues; the wells are expected to be connected and commence selling associated gas before the end of January

Fracing and completion activities are expected to begin on the Company's fourth Eagle Ford well, the Mumme 20H, before the end of the week

Carrizo production exit rate: Carrizo estimates its net production exit rate for the year 2010 was 130,000 thousand cubic feet of natural gas equivalents per day

Tags: Carrizo Oil & Gas