Carrizo Oil & Gas Inc., Houston, (Nasdaq: CRZO) reports initial royalty payments totaling more than $675,000 to mineral owners in Arlington, Texas, who signed agreements associated with the production of natural gas on and around the campus of the University of Texas at Arlington.
Carrizo president and chief executive Chip Johnson says, “Our operations at the University of Texas at Arlington have been an overwhelming success. It is exciting to be able to share these successes with our partners.”
Among the 120 residents and organizations receiving their first monthly payments are the UT Arlington, the city of Arlington, First Baptist Church of Arlington and the state of Texas.
UT Arlington president Jim Spaniolo says, “This is truly exciting news for our University and our community. We are looking forward to using our royalties to support undergraduate scholarships and graduate fellowships, faculty and staff recruitment and retention and the campus master plan.”
Carrizo has oil and gas operations primarily in the Barnett shale in North Texas, the Marcellus shale in Appalachia, and in proven onshore trends along the Texas and Louisiana Gulf Coast regions.
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