Carrizo Oil & Gas CEO S.P. Johnson IV Talks to the Wall Street Transcript.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 5, 2002 The Wall Street Transcript A generic term for any kind of copy, particularly an official or certified representation of the record of what took place in a court during a trial or other legal proceeding. A transcript of record has published an in-depth in-depth adj. Detailed; thorough: an in-depth study. in-depth Adjective detailed or thorough: an in-depth analysis interview with S.P. 'Chip' Johnson IV, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Carrizo Oil & Gas, Inc. (Nasdaq:CRZO), in which he talks at length about the Company's future. The entire 2,000 word interview is available free online at http://www.twst.com/ceos.htm Johnson gives an overview of the Company, "We started Carrizo Oil & Gas in late 1993. We spent three or four years building a land and seismic database in the onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. Gulf Coast that we've since used to drill exploratory wells. Most of our effort now is on drilling prospects we have identified from 3-D seismic, and we've had a very good success rate in the last couple of years with sharp increases in production and reserves." Johnson explains, "In the last quarter, the second quarter, we drilled four successful wells. We've actually not drilled a dry hole since last August, for about 14 straight successful wells. We've seen a sharp increase in production in the second quarter that was 29% higher than the first quarter as we brought on new wells, primarily wells that we drilled in the first quarter. We currently have two very big wells drilling, one in south Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. and one in Matagorda
County, and several more planned for the rest of this year."
Looking forward, Johnson states, "We have enough drill sites now to drill for at least three years, and the immediate focus is to progressively drill through these as we reinvest re·in·vest tr.v. re·in·vest·ed, re·in·vest·ing, re·in·vests To invest (capital or earnings) again, especially to invest (income from securities or funds) in additional shares. our cash flow and try to add reserves and production, and keep trying to correctly evaluate the risk so that we can explore deeper and find bigger targets." This interview is part of a 127-page Special Oil & Gas Conference Issue available at http://www.twst.com/info/info596.htm or by calling 212/952-7433. The Wall Street Transcript does not endorse To sign a paper or document, thereby making it possible for the rights represented therein to pass to another individual. Also spelled indorse. endorse (indorse) v. the views of any interviewees nor does it make stock recommendations. For subscription information call 800/246-7673. |
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