2017 Annual Report

Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas from resource plays located in the United States. Our current operations are principally focused in proven, producing hydrocarbon basins primarily in the Eagle Ford Shale in South Texas and the Delaware Basin in West Texas.

We have successfully grown our production and reserves by being an industry leader in horizontal drilling and completion techniques in unconventional resource plays. To date, we have drilled and completed more than 1,000 horizontal wells across multiple resource plays. And much the way baseball teams use data analytics to determine where to position their players in the field, we use the data accumulated from our past activity to help determine how and where to place future wellbores in order to maximize our results. This disciplined approach has helped us continue to drill wells that rank among the best in our core areas.

Crude oil plays continue to be the driver of our future production and revenue growth. As of February 27, 2018, we had accumulated more than 80,000 net acres in the Eagle Ford Shale and approximately 42,000 net acres in the Delaware Basin. We currently have a drilling inventory of more than 1,700 net potential locations across our acreage position. This provides us with a solid foundation from which to generate long-term growth in our reserves and production.