Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2012

Condensed Consolidating Financial Information [Abstract]

Schedule Of Condensed Consolidating Balance Sheets

	June 30, 2012
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries		Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets	$	1,440,016		$	111,247		$	1,487	$	(1,404,603	)	$	148,147
Property and equipment, net	108,699			1,234,104			98,317		23,027			1,464,147
Investments in subsidiaries	(21,347		)	—			—		21,347			—
Other assets	51,012			38,499			11,237		(8,400		)	92,348
Total assets	$	1,578,380		$	1,383,850		$	111,041	$	(1,368,629	)	$	1,704,642
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$	171,965		$	1,466,599		$	21,553	$	(1,345,415	)	$	314,702
Long-term liabilities	804,554			2,232			25,854		—			832,640
Shareholders’ equity	601,861			(84,981		)	63,634		(23,214		)	557,300
Total liabilities and shareholders’ equity	$	1,578,380		$	1,383,850		$	111,041	$	(1,368,629	)	$	1,704,642

	December 31, 2011
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries		Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets	$	1,349,841		$	71,018		$	3,874	$	(1,304,336	)	$	120,397
Property and equipment, net	101,015			1,131,672			68,911		8,916			1,310,514
Investments in subsidiaries	(58,764		)	—			—		58,764			—
Other assets	38,853			54,062			9,133		(5,279		)	96,769
Total assets	$	1,430,945		$	1,256,752		$	81,918	$	(1,241,935	)	$	1,527,680
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$	150,793		$	1,368,456		$	4,366	$	(1,252,295	)	$	271,320
Long-term liabilities	724,801			2,183			22,429		(2,908		)	746,505
Shareholders’ equity	555,351			(113,887		)	55,123		13,268			509,855
Total liabilities and shareholders’ equity	$	1,430,945		$	1,256,752		$	81,918	$	(1,241,935	)	$	1,527,680

Schedule Of Condensed Consolidating Statements Of Operations

	For The Three Months Ended June 30, 2012
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Oil and gas revenues	$	4,608		$	79,210		$	—		$	—		$	83,818
Cost and expenses	32,818			51,429			75			(15,223		)	69,099
Operating income (loss)	(28,210		)	27,781			(75		)	15,223			14,719
Other income and (expense), net	34,187			(7,014		)	1,422			—			28,595
Income (loss) before income taxes	5,977			20,767			1,347			15,223			43,314
Income tax (expense) benefit	(2,092		)	(7,268		)	1,320			(6,770		)	(14,810		)
Equity in income (loss) of subsidiaries	16,166			—			—			(16,166		)	—
Net income (loss)	$	20,051		$	13,499		$	2,667		$	(7,713	)	$	28,504

	For The Three Months Ended June 30, 2011
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Oil and gas revenues	$	9,389		$	41,283		$	—		$	—		$	50,672
Cost and expenses	21,788			24,237			143			(1,534		)	44,634
Operating income (loss)	(12,399		)	17,046			(143		)	1,534			6,038
Other income and (expense), net	15,242			(8,255		)	(1,681		)	—			5,306
Income before income taxes	2,843			8,791			(1,824		)	1,534			11,344
Income tax (expense) benefit	(784		)	(3,230		)	976			(564		)	(3,602		)
Equity in income (loss) of subsidiaries	4,713			—			—			(4,713		)	—
Net income (loss)	$	6,772		$	5,561		$	(848	)	$	(3,743	)	$	7,742

CARRIZO OIL & GAS, INC.

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

	For The Six Months Ended June 30, 2012
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Oil and gas revenues	$	11,397		$	153,136		$	—		$	—		$	164,533
Cost and expenses	47,365			94,107			153			(14,112		)	127,513
Operating income (loss)	(35,968		)	59,029			(153		)	14,112			37,020
Other income and (expense), net	35,314			(14,560		)	(1,019		)	—			19,735
Income (loss) before income taxes	(654		)	44,469			(1,172		)	14,112			56,755
Income tax (expense) benefit	229			(15,564		)	2,536			(6,029		)	(18,828		)
Equity in income (loss) of subsidiaries	30,269			—			—			(30,269		)	—
Net income (loss)	$	29,844		$	28,905		$	1,364		$	(22,186	)	$	37,927

	For The Six Months Ended June 30, 2011
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Oil and gas revenues	$	18,164		$	76,566		$	—		$	—		$	94,730
Cost and expenses	37,969			43,647			143			(2,832		)	78,927
Operating income (loss)	(19,805		)	32,919			(143		)	2,832			15,803
Other income and (expense), net	11,098			(12,081		)	(1,681		)	—			(2,664		)
Income before income taxes	(8,707		)	20,838			(1,824		)	2,832			13,139
Income tax (expense) benefit	3,059			(7,656		)	976			(1,041		)	(4,662		)
Equity in income (loss) of subsidiaries	12,334			—			—			(12,334		)	—
Net income (loss)	$	6,686		$	13,182		$	(848	)	$	(10,543	)	$	8,477

Schedule Of Condensed Consolidating Statements Of Cash Flows

	For The Six Months Ended June 30, 2012
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net cash provided by operating activities	$	44,412		$	101,585		$	(898	)	$	—		$	145,099
Net cash used in investing activities	(158,119		)	(188,743		)	(26,805		)	119,927			(253,740		)
Net cash provided by financing activities	101,298			93,120			26,807			(119,927		)	101,298
Net increase (decrease) in cash and cash equivalents	(12,409		)	5,962			(896		)	—			(7,343		)
Cash and cash equivalents, beginning of period	19,134			7,263			1,715			—			28,112
Cash and cash equivalents, end of period	$	6,725		$	13,225		$	819		$	—		$	20,769

	For The Six Months Ended June 30, 2011
	Parent Company			Combined Guarantor Subsidiaries			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
							(In thousands)
Net cash provided by operating activities	$	18,563		$	56,042		$	(483	)	$	—		$	74,122
Net cash used in investing activities	(57,759		)	(114,348		)	(35,130		)	114,121			(93,116		)
Net cash provided by financing activities	42,199			65,766			45,124			(114,121		)	38,968
Net increase (decrease) in cash and cash equivalents	3,003			7,460			9,511			—			19,974
Cash and cash equivalents, beginning of period	1,418			2,710			—			—			4,128
Cash and cash equivalents, end of period	$	4,421		$	10,170		$	9,511		$	—		$	24,102