Carrizo Oil & Gas Q3 Profit Surges, Revenue Up 36% - Quick Facts

(RTTNews) - Carrizo Oil & Gas, Inc. (CRZO) Thursday said third-quarter net income surged to $83.79 million from $4.52 million in the previous year. Earnings per share soared to $1.82 from $0.11.

Income from continuing operations per share climbed to $1.80 from $0.14.

Adjusted net income was $0.69 per share, while it was $0.72 per share last year. On average, 23 analysts polled by Thomson Reuters expected earnings of $0.64 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue climbed 36 percent to $196.23 million from $144.33 million in the prior year. Analysts expected revenues of $187.40 million.

The company reported record oil production of 20,000 Bbls/d, a 64 percent increase from last year. Total production jumped 12 percent to 33,587 Boe/d.

Further, the firm raised its 2014 crude oil production growth target to 63 percent.