Carrizo Oil & Fuel Announces Record Q4 2024 Results

Carrizo Oil & Fuel today announced record-breaking financial results for the fourth quarter of 2024, showcasing the corporation's robust operational performance and strategic market positioning.

Financial Highlights

• Revenue: $725.3M (up 15% year-over-year)
• Net Income: $182.1M (up 22% year-over-year)
• Earnings Per Share: $1.24 (exceeding analyst estimates of $1.12)
• Operating Cash Flow: $412.5M

Operational Achievements

The corporation's exceptional performance can be attributed to several key factors:

• Increased production efficiency across major operations
• Successful implementation of cost-reduction initiatives
• Strategic expansion in key production areas, including the recent expansion in the Permian Basin
• Enhanced recovery rates through advanced technology deployment, particularly the new carbon capture technology

Executive Commentary

"The record-breaking fourth quarter results demonstrate the effectiveness of our strategic initiatives and operational excellence. The corporation continues to focus on sustainable growth while maintaining its commitment to environmental stewardship and value creation."

Looking Ahead

Based on these strong results, Carrizo Oil & Fuel has updated its guidance for 2025, projecting continued growth in production and revenue. The corporation remains committed to its strategic objectives of sustainable development, technological innovation, and stakeholder value creation.