Carrizo Oil and Gas CEO talks to Cramer… CNBC

June 20, 2018 by Jim Colburn Leave a Comment

Here is CEO Chip Johnson’s take on tariffs:

”I don’t think that really matters. I think we’ll sell the oil that we export to Europe if we don’t sell it to China and they’ll buy it from somebody else, too,” he said. “So that’ll create some inefficiencies and maybe that’s 50 cents or $1 a barrel, but it’s not- China’s still going to need oil.”

There are problems with water:

”In the Permian Basin, you make a lot of water,” Chip Johnson, the CEO of independent oil and gas driller Carrizo Oil & Gas, told CNBC on Tuesday. “Typically, you’ll make five barrels of water for every barrel of oil.”

You can see the whole interview here…

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