Carrizo Oil & Gas, Inc.(CRZO) announced the closing of the sale of its Mansfield pipeline and gathering system in Tarrant County, Texas to Delphi Midstream Partners, LLC for net proceeds of $34.7 million, including a working capital adjustment of approximately $1.2 million. Net proceeds from the sale will be used to reduce the debt outstanding under Carrizo's Senior Credit Facility.
Carrizo has also entered into an agreement to continue to operate the Mansfield pipeline system on Delphi Midstream's behalf.
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