Carrizo Oil & Gas, Inc. (CRZO) posted third-quarter net loss of $4.79 million or $0.15 per share compared with a net income of $65.7 million or $2.12 per share in the same quarter last year.
Production volumes during the quarter were 8.21 Bcfe, 37% higher compared to 5.98 Bcfe during the third quarter of 2008. The increase was largely due to new production contributions from Barnett Shale development.
Oil and natural gas revenues for the quarter decreased to $27.3 million from $55.5 million in the prior year period.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share on revenues of $42.21 million. Analysts' estimates typically exclude special items.
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