Carrizo Oil Inc. (CRZO)

[Timothy Smith]

Carrizo now controls more than 53,000 net acres in Eagle Ford - one of the most prolific shale plays in the country.

In 2012, the Eagle Ford produced 52,000 barrels of oil per day. And its reserves are estimated at 3 billion barrels of oil.

Carrizo's strategy is to expand its capacity in the region with an increasing expertise in "complex extended reach horizontal wells," utilizing sophisticated 3-D seismic controlled horizontal drilling and completion technology.

Carrizo has taken this expertise and parlayed it to become one of the most productive drillers in the region.

In fact, the company has been successful in 100% of the wells it's sunk, churning up some impressive production numbers.

According to the Texas Railroad Commission - the state agency that regulates the oil-and-gas industry - Carrizo is one of the fastest-growing and most productive outfits in the region, taking more than 3 million barrels of oil from Eagle Ford in the first six months of this year alone.

But that's not all.

In addition to increasing its presence in Eagle Ford, the sale of its natural gas assets will allow it to focus increased attention on three other oil projects: the Niobrara Formation in the Denver-Julesburg Basin in Colorado, its Huntington field discovery in the North Sea, and the emerging Utica Shale in eastern Ohio.

Carrizo's strategy seems to be paying off.