As filed with the Securities and Exchange Commission on June 28, 2017

Registration No. 333-198459

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Post-Effective Amendment No. 1 to

FORM S-3

REGISTRATION STATEMENT

Under

THE SECURITIES ACT OF 1933

 

 

CARRIZO OIL & GAS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Texas   76-0415919

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification No.)

500 Dallas Street, Suite 2300

Houston, Texas 77002

(713) 328-1000

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 

 

Michael Kennington

Associate General Counsel

Carrizo Oil & Gas, Inc.

500 Dallas Street, Suite 2300

Houston, Texas 77002

(713) 328-1000

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

 

Copies to:

Gene J. Oshman

Travis J. Wofford

Baker Botts L.L.P.

One Shell Plaza

910 Louisiana Street

Houston, Texas 77002

(713) 229-1234

 

 

 

Exact Name of Additional Registrants

as Specified in Their Respective Charters*

  

Jurisdiction of
Incorporation/

Organization

    

I.R.S. Employer
Identification
Number

 

Bandelier Pipeline Holding, LLC

     Delaware        27-0629697  

Carrizo (Eagle Ford) LLC

     Delaware        45-2648836  

Carrizo (Marcellus) LLC

     Delaware        26-3529055  

Carrizo (Marcellus) WV LLC

     Delaware        27-3279601  

Carrizo (Niobrara) LLC

     Delaware        45-2648909  

Carrizo (Permian) LLC

     Delaware        46-2191866  

Carrizo (Utica) LLC

     Delaware        45-3092066  

Carrizo Marcellus Holding Inc.

     Delaware        26-3528920  

CLLR, Inc.

     Delaware        20-5154104  

Hondo Pipeline, Inc.

     Delaware        26-1309563  

Mescalero Pipeline, LLC

     Delaware        27-0638159  

 

* The address and telephone number of each additional registrant’s principal executive office is 500 Dallas Street, Suite 2300, Houston, Texas 77002, Telephone (713) 328-1000.

 

 

Approximate date of commencement of proposed sale to the public : From time to time after this registration statement becomes effective.

If the only securities being registered on this Form are to be offered pursuant to dividend or interest reinvestment plans, please check the following box.  ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.  ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.  ☒

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.  ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer      Accelerated filer  
Non-accelerated filer  (Do not check if a smaller reporting company)   ☐    Smaller reporting company  
     Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act.  ☐

 

 

CALCULATION OF REGISTRATION FEE

 

 

 

Title of Each Class of

Securities to be Registered

  Amount to be Registered/Proposed Maximum Aggregate
Offering Price/Amount of Registration Fee(1)(2)(3)

Debt Securities

 

Common Stock, par value $0.01 per share

 

Preferred Stock, par value $0.01 per share

 

Warrants

 

Guarantees of Debt Securities(4)

 

Total

 

 

 

 

(1) There is being registered hereunder such indeterminate number or amount of debt securities, common stock, preferred stock, warrants and guarantees of debt securities as may from time to time be issued at indeterminate prices and as may be issuable upon conversion, redemption, exchange, exercise or settlement of any securities registered hereunder, including under any applicable antidilution provisions. Any securities registered hereunder may be sold separately or with other securities registered hereunder.
(2) In reliance on Rule 456(b) and Rule 457(r) under the Securities Act, the registrant hereby defers payment of the registration fee required in connection with this Registration Statement.
(3) Pursuant to Rule 416, there is also being registered hereunder such indeterminate amount of securities as may from time to time be issuable as a result of stock splits, stock dividends or applicable antidilution provisions.
(4) Bandelier Pipeline Holding, LLC, Carrizo (Eagle Ford) LLC, Carrizo (Marcellus) LLC, Carrizo (Marcellus) WV LLC, Carrizo (Niobrara) LLC, Carrizo (Permian) LLC, Carrizo (Utica) LLC, Carrizo Marcellus Holding Inc., CLLR, Inc., Hondo Pipeline, Inc. and Mescalero Pipeline, LLC may fully and unconditionally guarantee any series of debt securities of Carrizo Oil & Gas, Inc. Pursuant to Rule 457(n), no separate fee is payable with respect to the guarantees of the debt securities being registered.

 

 

 


EXPLANATORY NOTE

This Registration Statement on Form S-3 (Registration No. 333-198459) of Carrizo Oil & Gas, Inc. (the “Company”) and its subsidiary guarantor registrants (the “Registration Statement”) is being amended to add Carrizo (Permian) LLC, a subsidiary of the Company, as a co-registrant that is, or may potentially be, a guarantor of some or all of the debt securities with respect to which offers and sales are registered under this Registration Statement. No changes or additions are being made hereby to the base prospectus that already forms a part of the Registration Statement. Accordingly, such base prospectus is being omitted from this filing.


PART II

INFORMATION NOT REQUIRED IN PROSPECTUS

 

Item 14. Other Expenses of Issuance and Distribution

All expenses in connection with the offering described in this registration statement will be paid by us. Such expenses are estimated as follows:

 

SEC registration fee

   $                 *  

Printing expenses

     **  

Accounting and engineers’ fees and expenses

     **  

Legal fees and expenses

     **  

Trustee and transfer agent fees and expenses

     **  

Rating agency fees and expenses

     **  

FINRA filing fee

     **  

Miscellaneous

     **  
  

 

 

 

Total

   $             **  
  

 

 

 

 

* To be deferred pursuant to Rule 456(b) and calculated in connection with the offering of securities under this registration statement pursuant to Rule 457(r).
** Estimated expenses are not presently known. The foregoing sets forth the general categories of expenses that we anticipate we will incur in connection with the offering of securities under this registration statement. An estimate of the aggregate expenses in connection with the issuance and distribution of the securities being offered will be included in the applicable prospectus supplement.

 

Item 15. Indemnification of Directors and Officers.

Limitation of Director Liability and Indemnification Arrangements

Texas Corporations. Our articles of incorporation contain a provision that limits the liability of our directors as permitted by the Texas Business Organizations Code. The provision eliminates the personal liability of a director to us and our shareholders for monetary damages for an act or omission in the director’s capacity as a director. The provision does not change the liability of a director for breach of his duty of loyalty to us or to our shareholders, for an act or omission not in good faith that involves intentional misconduct or a knowing violation of law, for an act or omission for which the liability of a director is expressly provided for by an applicable statute, or in respect of any transaction from which a director received an improper personal benefit. Pursuant to our articles of incorporation, the liability of directors will be further limited or eliminated without action by shareholders if Texas law is amended to further limit or eliminate the personal liability of directors.

Our bylaws provide for the indemnification of our officers and directors, and the advancement to them of expenses in connection with proceedings and claims, to the fullest extent permitted by the Texas Business Organizations Code. We have also entered into indemnification agreements with each of our directors and some of our officers that contractually provide for indemnification and expense advancement and include related provisions meant to facilitate the indemnitee’s receipt of such benefits.

In addition, we have purchased directors’ and officers’ liability insurance policies for our directors and officers. Our bylaws and these agreements with directors and officers provide for indemnification for amounts:

 

    in respect of the deductibles for these insurance policies;

 

    that exceed the liability limits of our insurance policies; and

 

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    that are available, were available or become available to us or which are generally available to companies comparable to us but which our officers or directors determine is inadvisable for us to purchase, given the cost involved.

Such indemnification may be made even though directors and officers would not otherwise be entitled to indemnification under other provisions of our bylaws or these agreements.

Delaware Corporations. Delaware law permits a corporation to adopt a provision in its certificate of incorporation eliminating or limiting the personal liability of a director, but not an officer in his or her capacity as such, to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except that such provision shall not eliminate or limit the liability of a director for (1) any breach of the director’s duty of loyalty to the corporation or its stockholders, (2) acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) liability under section 174 of the Delaware General Corporation Law (the “DGCL”) for unlawful payment of dividends or stock purchases or redemptions or (4) any transaction from which the director derived an improper personal benefit.

The certificate of incorporation and bylaws of each of Carrizo Marcellus Holding Inc., CLLR, Inc. and Hondo Pipeline, Inc. each authorize indemnification of such entity’s officers and directors to the full extent permitted by law.

Under Delaware law, a corporation may indemnify any person who was or is a party or is threatened to be made a party to any type of proceeding, other than an action by or in the right of the corporation, because he or she is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation or other entity, against expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such proceeding if: (1) he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation and (2) with respect to any criminal proceeding, he or she had no reasonable cause to believe that his or her conduct was unlawful. A corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit brought by or in the right of the corporation because he or she is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation or other entity, against expenses, including attorneys’ fees, actually and reasonably incurred in connection with such action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification will be made if the person is found liable to the corporation unless, in such a case, the court determines the person is nonetheless entitled to indemnification for such expenses. A corporation must also indemnify a present or former director or officer who has been successful on the merits or otherwise in defense of any proceeding, or in defense of any claim, issue or matter therein, against expenses, including attorneys’ fees, actually and reasonably incurred by him or her. Expenses, including attorneys’ fees, incurred by a director or officer, or any employees or agents as deemed appropriate by the board of directors, in defending civil or criminal proceedings may be paid by the corporation in advance of the final disposition of such proceedings upon receipt of an undertaking by or on behalf of such director, officer, employee or agent to repay such amount if it shall ultimately be determined that he or she is not entitled to be indemnified by the corporation. The Delaware law regarding indemnification and the advancement of expenses is not exclusive of any other rights a person may be entitled to under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise.

Under the DGCL, the termination of any proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that a person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal proceeding, had reasonable cause to believe that his or her conduct was unlawful.

Delaware law also provides that a corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation or other entity, against any liability asserted against and incurred by such person, whether or not the corporation would have the power to indemnify such person against such liability.

 

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Delaware Limited Liability Companies. The limited liability company agreements of each of Bandelier Pipeline Holding, LLC, Carrizo (Eagle Ford) LLC, Carrizo (Marcellus) LLC, Carrizo (Marcellus) WV LLC, Carrizo (Niobrara) LLC, Carrizo (Permian) LLC, Carrizo (Utica) LLC and Mescalero Pipeline, LLC provide that their respective members, officers and directors will be indemnified to the fullest extent that would be permitted by the DGCL as if each such entity were a corporation governed by the DGCL.

 

Item 16. Exhibits

 

EXHIBIT
NUMBER

      

DESCRIPTION

1.1***      Underwriting Agreement.
†3.1      Composite Articles of Incorporation of the Company (incorporated herein by reference to Exhibit 3.2 to the Company’s Current Report on 8-K filed on May 16, 2017 (File No. 000-29187-87)).
†3.2      Amended and Restated Bylaws of the Company (incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on February 19, 2015 (File No. 000-29187-87)).
†4.1      Form of certificate representing Common Stock (incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement on Form S-1 (Registration No. 333-29187)).
†4.2      Certificate of Formation of Bandelier Pipeline Holding, LLC (incorporated by reference to Exhibit 4.2 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.3      Amended and Restated Limited Liability Company Agreement of Bandelier Pipeline Holding, LLC (incorporated by reference to Exhibit 4.3 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.4      Certificate of Formation of Carrizo (Eagle Ford) LLC (incorporated by reference to Exhibit 4.4 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).
†4.5      Limited Liability Company Agreement of Carrizo (Eagle Ford) LLC (incorporated by reference to Exhibit 4.5 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).
†4.6      Certificate of Formation of Carrizo (Marcellus) LLC (incorporated by reference to Exhibit 4.10 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.7      Limited Liability Company Agreement of Carrizo (Marcellus) LLC (incorporated by reference to Exhibit 4.11 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.8      Certificate of Formation of Carrizo (Marcellus) WV LLC (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.9      Limited Liability Company Agreement of Carrizo (Marcellus) WV LLC (incorporated by reference to Exhibit 4.7 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.10      Certificate of Formation of Carrizo (Niobrara) LLC (incorporated by reference to Exhibit 4.12 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).
†4.11      Limited Liability Company Agreement of Carrizo (Niobrara) LLC (incorporated by reference to Exhibit 4.13 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).

 

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EXHIBIT
NUMBER

      

DESCRIPTION

4.12*      Certificate of Formation of Carrizo (Permian) LLC.
4.13*      Limited Liability Company Agreement of Carrizo (Permian) LLC.
4.14**      Certificate of Formation of Carrizo (Utica) LLC.
4.15**      Limited Liability Company Agreement of Carrizo (Utica) LLC.
†4.16      Certificate of Incorporation of Carrizo Marcellus Holding Inc. (incorporated by reference to Exhibit 4.12 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.17      Bylaws of Carrizo Marcellus Holding Inc. (incorporated by reference to Exhibit 4.13 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.18      Certificate of Incorporation of CLLR, Inc. (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.19      Bylaws of CLLR, Inc. (incorporated by reference to Exhibit 4.7 to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.20      Certificate of Incorporation of Hondo Pipeline, Inc. (incorporated by reference to Exhibit 4.10 to the Company’s Post-Effective Amendment to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.21      Bylaws of Hondo Pipeline, Inc. (incorporated by reference to Exhibit 4.11 to the Company’s Post-Effective Amendment to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.22      Certificate of Formation of Mescalero Pipeline, LLC (incorporated by reference to Exhibit 4.18 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.23      Certificate of Amendment to the Certificate of Formation of Mescalero Pipeline, LLC (incorporated by reference to Exhibit 4.19 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.24      Amended and Restated Limited Liability Company Agreement of Mescalero Pipeline, LLC (incorporated by reference to Exhibit 4.20 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.25      Indenture among Carrizo Oil & Gas, Inc., the subsidiaries named therein and Wells Fargo Bank, National Association, as trustee, dated May 28, 2008 (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on May 28, 2008 (File No. 000-29187-87)).
†4.26      First Supplemental Indenture dated May 28, 2008 between Carrizo Oil & Gas, Inc. and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on May 28, 2008 (File No. 000-29187-87)).
†4.27      Second Supplemental Indenture dated May 14, 2009 among Carrizo Oil & Gas, Inc., the subsidiaries named therein and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.21 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.28      Third Supplemental Indenture effective as of October 19, 2009 among Carrizo Oil & Gas, Inc., Pecos Pipeline LLC and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.19 to the Company’s Amendment No. 1 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).

 

II-4


EXHIBIT
NUMBER

      

DESCRIPTION

†4.29      Fourth Supplemental Indenture dated November 2, 2010 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on November 2, 2010 (File No. 000-29187-87)).
†4.30      Fifth Supplemental Indenture dated November 2, 2010 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on November 2, 2010 (File No. 000-29187-87)).
†4.31      Sixth Supplemental Indenture dated May 4, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 (File No. 000-29187-87)).
†4.32      Seventh Supplemental Indenture dated May 4, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 (File No. 000-29187-87)).
†4.33      Eighth Supplemental Indenture dated August 5, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 (File No. 000-29187-87)).
†4.34      Ninth Supplemental Indenture dated August 5, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.4 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 (File No. 000-29187-87)).
†4.35      Tenth Supplemental Indenture dated September 10, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company Current Report on Form 8-K filed on September 13, 2012 (File No. 000-29187-87)).
†4.36      Eleventh Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).
†4.37      Twelfth Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).
†4.38      Thirteenth Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).
†4.39      Fourteenth Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.4 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).

 

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EXHIBIT
NUMBER

      

DESCRIPTION

†4.40      Fifteenth Supplemental Indenture dated October 30, 2014 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on October 30, 2014 (File No. 000-29187-87)).
†4.41      Sixteenth Supplemental Indenture dated April 28, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on April 28, 2015 (File No. 000-29187-87)).
†4.42      Seventeenth Supplemental Indenture dated May 20, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on May 22, 2015 (File No. 000-29187-87)).
†4.43      Eighteenth Supplemental Indenture dated May 20, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on May 22, 2015 (File No. 000-29187-87)).
†4.44      Nineteenth Supplemental Indenture dated May 20, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on May 22, 2015 (File No. 000-29187-87)).
†4.45      Officer’s Certificate, dated November 17, 2011, establishing $200.0 million aggregate principal amount of 8.625% Senior Notes due 2018 (incorporated herein by reference to Exhibit 4.5 to the Company’s Current Report on Form 8-K filed on November 17, 2011 (File No. 000-29187-87)).
†4.46      Officers’ Certificate dated February 23, 2015, establishing $300.0 million aggregate principal amount of 7.50% Senior Notes due 2020 (incorporated herein by reference to Exhibit 4.17 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (File No. 000-29187-87)).
4.47**      Form of Indenture relating to subordinated debt securities of the Company.
5.1**      Opinion of Baker Botts L.L.P.
5.2*      Opinion of Baker Botts L.L.P. as to the legality of the guarantees covered by this Post-Effective Amendment No. 1 to Form S-3.
12.1*      Computation of ratio of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends for the three months ended March 31, 2017 and for each of the years in the five-year period ended December 31, 2016.
23.1*      Consent of KPMG LLP.
23.2*      Consent of Ryder Scott Company, L.P.
23.3*      Consent of Baker Botts L.L.P. (included in Exhibit 5.1).
24.1*      Powers of Attorney (included on signature pages).
25.1*      Form T-1 Statement of Eligibility of Trustee with respect to the Senior Indenture.
25.2*      Form T-1 Statement of Eligibility of Trustee with respect to the Subordinated Indenture.

 

Incorporated by reference as indicated.
* Filed herewith.

 

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** Previously filed as an Exhibit to the Registration Statement.
*** We will file as an exhibit to a Current Report on Form 8-K (i) any underwriting, remarketing or agency agreement relating to the securities offered hereby, (ii) the instruments setting forth the terms of any debt securities, preferred stock or warrants, (iii) any additional required opinions of counsel with respect to legality of the securities offered hereby or (iv) any required opinion of our counsel as to certain tax matters relative to the securities offered hereby.

 

Item 17. Undertakings

The undersigned Registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

 

  (i) to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

 

  (ii) to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and

 

  (iii) to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

provided, however , that paragraphs (i), (ii) and (iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

 

  (A) Each prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

 

  (B)

Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the

 

II-7


  registration statement relating to the securities in the registration statement to which the prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.

(5) That, for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

 

  (i) Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;

 

  (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant;

 

  (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and

 

  (iv) Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.

(6) That, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant’s annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(7) To file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture Act in accordance with the rules and regulations prescribed by the SEC under Section 305(b)(2) of the Trust Indenture Act.

(8) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the claim has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

 

II-8


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, each of the registrants certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Houston, the State of Texas, on June 28, 2017.

 

CARRIZO OIL & GAS, INC.

BANDELIER PIPELINE HOLDING, LLC

CARRIZO (EAGLE FORD) LLC

CARRIZO (MARCELLUS) LLC

CARRIZO (MARCELLUS) WV LLC

CARRIZO (NIOBRARA) LLC

CARRIZO (PERMIAN) LLC

CARRIZO (UTICA) LLC

CARRIZO MARCELLUS HOLDING INC.

CLLR, INC.

HONDO PIPELINE, INC.

MESCALERO PIPELINE, LLC

By:   /s/ David L. Pitts
  Name: David L. Pitts
  Title: Vice President and Chief Financial Officer


CARRIZO OIL & GAS, INC.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President, Chief Executive Officer and

Director (Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Chief Financial Officer

(Principal Financial Officer)

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Vice President and Chief Accounting Officer

(Principal Accounting Officer)

*

(Steven A. Webster)

  

Chairman

*

(Thomas L. Carter, Jr.)

  

Director

*

(F. Gardner Parker)

  

Director

*

(Robert F. Fulton)

  

Director

*

(Roger A. Ramsey)

  

Director

*

(Frank A. Wojtek)

  

Director

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


BANDELIER PIPELINE HOLDING, LLC

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


CARRIZO (EAGLE FORD) LLC

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


CARRIZO (MARCELLUS) LLC

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


CARRIZO (MARCELLUS) WV LLC

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


CARRIZO (NIOBRARA) LLC

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


CARRIZO (PERMIAN) LLC

Each person whose signature appears below appoints S.P. Johnson IV, David L. Pitts, Gerald A. Morton, and Gregory F. Conaway and each of them, each of whom may act without the joinder of the others, as his true and lawful attorneys in fact and agents, will full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys in fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully and for all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys in fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

/s/ S.P. Johnson IV

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

/s/ Gerald A. Morton

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)


CARRIZO (UTICA) LLC

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


CARRIZO MARCELLUS HOLDING INC.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


CLLR, INC.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


HONDO PIPELINE, INC.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


MESCALERO PIPELINE, LLC

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on June 28, 2017.

 

SIGNATURE

  

TITLE

*

(S.P. Johnson IV)

  

President and Director

(Principal Executive Officer)

/s/ David L. Pitts

(David L. Pitts)

  

Vice President and Director

(Principal Financial Officer)

*

(Gerald A. Morton)

  

Director

/s/ Gregory F. Conaway

(Gregory F. Conaway)

  

Chief Accounting Officer

(Principal Accounting Officer)

/s/ David L. Pitts

* As Attorney-in-fact

  

Pursuant to power of attorney included in the

Registration Statement


EXHIBIT INDEX

 

EXHIBIT
NUMBER

      

DESCRIPTION

1.1***      Underwriting Agreement.
†3.1      Composite Articles of Incorporation of the Company (incorporated herein by reference to Exhibit 3.2 to the Company’s Current Report on 8-K filed on May 16, 2017 (File No. 000-29187-87)).
†3.2      Amended and Restated Bylaws of the Company (incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on February 19, 2015 (File No. 000-29187-87)).
†4.1      Form of certificate representing Common Stock (incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement on Form S-1 (Registration No. 333-29187)).
†4.2      Certificate of Formation of Bandelier Pipeline Holding, LLC (incorporated by reference to Exhibit 4.2 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.3      Amended and Restated Limited Liability Company Agreement of Bandelier Pipeline Holding, LLC (incorporated by reference to Exhibit 4.3 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.4      Certificate of Formation of Carrizo (Eagle Ford) LLC (incorporated by reference to Exhibit 4.4 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).
†4.5      Limited Liability Company Agreement of Carrizo (Eagle Ford) LLC (incorporated by reference to Exhibit 4.5 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).
†4.6      Certificate of Formation of Carrizo (Marcellus) LLC (incorporated by reference to Exhibit 4.10 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.7      Limited Liability Company Agreement of Carrizo (Marcellus) LLC (incorporated by reference to Exhibit 4.11 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.8      Certificate of Formation of Carrizo (Marcellus) WV LLC (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.9      Limited Liability Company Agreement of Carrizo (Marcellus) WV LLC (incorporated by reference to Exhibit 4.7 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.10      Certificate of Formation of Carrizo (Niobrara) LLC (incorporated by reference to Exhibit 4.12 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).
†4.11      Limited Liability Company Agreement of Carrizo (Niobrara) LLC (incorporated by reference to Exhibit 4.13 to the Company’s Registration Statement on Form S-4 (Registration No. 333-178929)).
4.12*      Certificate of Formation of Carrizo (Permian) LLC.
4.13*      Limited Liability Company Agreement of Carrizo (Permian) LLC.
4.14**      Certificate of Formation of Carrizo (Utica) LLC.


EXHIBIT
NUMBER

      

DESCRIPTION

4.15**      Limited Liability Company Agreement of Carrizo (Utica) LLC.
†4.16      Certificate of Incorporation of Carrizo Marcellus Holding Inc. (incorporated by reference to Exhibit 4.12 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.17      Bylaws of Carrizo Marcellus Holding Inc. (incorporated by reference to Exhibit 4.13 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.18      Certificate of Incorporation of CLLR, Inc. (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.19      Bylaws of CLLR, Inc. (incorporated by reference to Exhibit 4.7 to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.20      Certificate of Incorporation of Hondo Pipeline, Inc. (incorporated by reference to Exhibit 4.10 to the Company’s Post-Effective Amendment to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.21      Bylaws of Hondo Pipeline, Inc. (incorporated by reference to Exhibit 4.11 to the Company’s Post-Effective Amendment to the Company’s Registration Statement on Form S-3 (Registration No. 333-142346)).
†4.22      Certificate of Formation of Mescalero Pipeline, LLC (incorporated by reference to Exhibit 4.18 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.23      Certificate of Amendment to the Certificate of Formation of Mescalero Pipeline, LLC (incorporated by reference to Exhibit 4.19 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.24      Amended and Restated Limited Liability Company Agreement of Mescalero Pipeline, LLC (incorporated by reference to Exhibit 4.20 to the Company’s Registration Statement on Form S-4 (Registration No. 333-173812)).
†4.25      Indenture among Carrizo Oil & Gas, Inc., the subsidiaries named therein and Wells Fargo Bank, National Association, as trustee, dated May 28, 2008 (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on May 28, 2008 (File No. 000-29187-87)).
†4.26      First Supplemental Indenture dated May 28, 2008 between Carrizo Oil & Gas, Inc. and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on May 28, 2008 (File No. 000-29187-87)).
†4.27      Second Supplemental Indenture dated May 14, 2009 among Carrizo Oil & Gas, Inc., the subsidiaries named therein and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.21 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.28      Third Supplemental Indenture effective as of October 19, 2009 among Carrizo Oil & Gas, Inc., Pecos Pipeline LLC and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.19 to the Company’s Amendment No. 1 to the Company’s Registration Statement on Form S-3 (Registration No. 333-159237)).
†4.29      Fourth Supplemental Indenture dated November 2, 2010 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on November 2, 2010 (File No. 000-29187-87)).


EXHIBIT
NUMBER

      

DESCRIPTION

†4.30      Fifth Supplemental Indenture dated November 2, 2010 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on November 2, 2010 (File No. 000-29187-87)).
†4.31      Sixth Supplemental Indenture dated May 4, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 (File No. 000-29187-87)).
†4.32      Seventh Supplemental Indenture dated May 4, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 (File No. 000-29187-87)).
†4.33      Eighth Supplemental Indenture dated August 5, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 (File No. 000-29187-87)).
†4.34      Ninth Supplemental Indenture dated August 5, 2011 among Carrizo Oil & Gas, Inc. the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.4 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 (File No. 000-29187-87)).
†4.35      Tenth Supplemental Indenture dated September 10, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company Current Report on Form 8-K filed on September 13, 2012 (File No. 000-29187-87)).
†4.36      Eleventh Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).
†4.37      Twelfth Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).
†4.38      Thirteenth Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).
†4.39      Fourteenth Supplemental Indenture dated November 6, 2012 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.4 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 (File No. 000-29187-87)).
†4.40      Fifteenth Supplemental Indenture dated October 30, 2014 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on October 30, 2014 (File No. 000-29187-87)).


EXHIBIT
NUMBER

      

DESCRIPTION

†4.41      Sixteenth Supplemental Indenture dated April 28, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on April 28, 2015 (File No. 000-29187-87)).
†4.42      Seventeenth Supplemental Indenture dated May 20, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on May 22, 2015 (File No. 000-29187-87)).
†4.43      Eighteenth Supplemental Indenture dated May 20, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on May 22, 2015 (File No. 000-29187-87)).
†4.44      Nineteenth Supplemental Indenture dated May 20, 2015 among Carrizo Oil & Gas, Inc., the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on May 22, 2015 (File No. 000-29187-87)).
†4.45      Officer’s Certificate, dated November 17, 2011, establishing $200.0 million aggregate principal amount of 8.625% Senior Notes due 2018 (incorporated herein by reference to Exhibit 4.5 to the Company’s Current Report on Form 8-K filed on November 17, 2011 (File No. 000-29187-87)).
†4.46      Officers’ Certificate dated February 23, 2015, establishing $300.0 million aggregate principal amount of 7.50% Senior Notes due 2020 (incorporated herein by reference to Exhibit 4.17 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (File No. 000-29187-87)).
4.47**      Form of Indenture relating to subordinated debt securities of the Company.
5.1**      Opinion of Baker Botts L.L.P.
5.2*      Opinion of Baker Botts L.L.P. as to the legality of the guarantees covered by this Post-Effective Amendment No. 1 to Form S-3.
12.1*      Computation of ratio of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends for the three months ended March 31, 2017 and for each of the years in the five-year period ended December 31, 2016.
23.1*      Consent of KPMG LLP.
23.2*      Consent of Ryder Scott Company, L.P.
23.3*      Consent of Baker Botts L.L.P. (included in Exhibit 5.1).
24.1*      Powers of Attorney (included on signature pages).
25.1*      Form T-1 Statement of Eligibility of Trustee with respect to the Senior Indenture.
25.2*      Form T-1 Statement of Eligibility of Trustee with respect to the Subordinated Indenture.

 

Incorporated by reference as indicated.
* Filed herewith.
** Previously filed as an Exhibit to the Registration Statement.
*** We will file as an exhibit to a Current Report on Form 8-K (i) any underwriting, remarketing or agency agreement relating to the securities offered hereby, (ii) the instruments setting forth the terms of any debt securities, preferred stock or warrants, (iii) any additional required opinions of counsel with respect to legality of the securities offered hereby or (iv) any required opinion of our counsel as to certain tax matters relative to the securities offered hereby.

Exhibit 4.12

State of Delaware

Secretary of State

Division of Corporations

Delivered 11:57 AM 02/27/2013

FILED 11:35 AM 02/27/2013

SRV 130239919 – 5294945 FILE

CERTIFICATE OF FORMATION

OF

CARRIZO (PERMIAN) LLC

This Certificate of Formation of Carrizo (Permian) LLC (the “Company”) is being executed and filed by the undersigned authorized person for the purpose of forming a limited liability company under the Delaware Limited Liability Company Act.

Article One

The name of the Company is Carrizo (Permian) LLC.

Article Two

The address of the registered office of the Company in the State of Delaware is 1209 Orange Street, Wilmington, New Castle County, Delaware 19801, and the Company’s Registered Agent at that address is The Corporation Trust Company.

IN WITNESS WHEREOF, the undersigned has executed this Certificate of Formation on this 27 th day of February, 2013.

 

By:   /s/ Michael Kennington
  Michael Kennington
  Authorized Person

Exhibit 4.13

L IMITED L IABILITY C OMPANY A GREEMENT

OF

C ARRIZO (P ERMIAN ) LLC

Effective as of February 28, 2013


TABLE OF CONTENTS

 

         Page  

ARTICLE I DEFINITIONS

     1  

ARTICLE II FORMATION OF THE COMPANY

     2  

2.1

  Formation      2  

2.2

  Name      2  

2.3

  Place of Business      2  

2.4

  Registered Office and Registered Agent      2  

2.5

  Term      3  

2.6

  Permitted Business; Powers      3  

2.7

  Authorized Person in the Certificate of Formation      3  

ARTICLE III MEMBER

     3  

3.1

  Member      3  

ARTICLE IV CAPITAL OF THE COMPANY

     3  

4.1

  Capital Contributions      3  

4.2

  Record of Contributions      3  

4.3

  Interest      3  

4.4

  Loans from the Member      4  

4.5

  Loans to Company      4  

4.6

  No Further Obligation      4  

ARTICLE V RIGHTS AND OBLIGATIONS OF MEMBER

     4  

5.1

  Limitation of Member’s Responsibility, Liability      4  

5.2

  Return of Distributions      4  

ARTICLE VI MANAGEMENT BY BOARD OF DIRECTORS

     4  

6.1

  Establishment of Board      4  

6.2

  The Board: Delegation of Authority and Duties      4  

6.3

  Term of Office      5  

6.4

  Meetings of the Board and Committees      5  

6.5

  Voting      6  

6.6

  Responsibility and Authority of the Board      6  

ARTICLE VII OFFICERS

     7  

7.1

  Designation and Appointment      7  

7.2

  Resignation and Removal      7  

7.3

  Duties of Officers Generally      7  

7.4

  President      7  

7.5

  Chief Financial Officer      8  

7.6

  Vice President(s)      8  

7.7

  Secretary      8  

 

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         Page  

ARTICLE VIII INDEMNIFICATION

     9  

8.1

  Exculpation      9  

8.2

  Right to Indemnification      9  

8.3

  Determination of Eligibility      10  

8.4

  Advancement of Expenses      10  

8.5

  Indemnification of Employees and Agents      10  

8.6

  Appearance as a Witness      10  

8.7

  Right of Claimant to Bring Suit      10  

8.8

  Nonexclusivity of Rights      11  

8.9

  Insurance      11  

8.10

  Savings Clause      11  

ARTICLE IX ACCOUNTING PERIOD, RECORDS AND REPORTS

     11  

9.1

  Accounting Method      11  

9.2

  Accounting Period      11  

9.3

  Inspection      11  

9.4

  Preparation of Financial Statements      11  

ARTICLE X TAX MATTERS

     12  

10.1

  Tax Returns and Elections      12  

ARTICLE XI DISSOLUTION AND TERMINATION

     12  

11.1

  Dissolution      12  

11.2

  Effect of Dissolution      12  

11.3

  Winding Up, Liquidating and Distribution of Assets      12  

11.4

  Certificate of Cancellation      13  

ARTICLE XII MISCELLANEOUS

     13  

12.1

  Notices      13  

12.2

  Application of Delaware Law      13  

12.3

  Headings      13  

12.4

  Waivers      13  

12.5

  Rights and Remedies Cumulative      14  

12.6

  Severability      14  

12.7

  Heirs, Successors and Assigns      14  

12.8

  Beneficiaries      14  

 

ii


LIMITED LIABILITY COMPANY AGREEMENT

OF

CARRIZO (PERMIAN) LLC

This Limited Liability Company Agreement (this “Agreement”) is dated as of February 28, 2013, by Carrizo Oil & Gas, Inc. a Texas corporation.

WHEREAS, on February 27, 2013, a certificate of formation respecting Carrizo (Permian) LLC (the “Company”) was filed with the Secretary of State of the State of Delaware; and

WHEREAS, it is desired that the orderly management of the affairs of the Company be provided for; and

WHEREAS, this Agreement shall be effective as of the formation of the Company;

NOW, THEREFORE, it is agreed as follows:

ARTICLE I

DEFINITIONS

The following terms used in this Agreement shall have the following meanings (unless otherwise expressly provided herein):

“Affiliate,” with respect to a specified Person, shall mean a Person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the Person specified. For purposes of this definition, “control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

“Agreement” shall mean this Agreement as originally executed and as it may be amended from time to time hereafter.

“Board” shall mean the Board of Directors of the Company as provided in Section 6.1.

“Capital Contribution” shall mean any contribution to the capital of the Company in cash or property by the Member whenever made.

“Certificate of Formation” shall mean the Certificate of Formation of the Company filed with and endorsed by the Secretary of State of the State of Delaware, as such certificate may be amended from time to time hereafter.

 

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“Code” shall mean the Internal Revenue Code of 1986, as amended, or corresponding provisions of subsequent superseding federal revenue laws.

“Company” has the meaning set forth in the recitals to this Agreement.

“Delaware Act” shall mean the Delaware Limited Liability Company Act, as the same may be amended from time to time hereafter.

“Directors” shall mean the directors appointed by the Member as provided in Section 6.1.

“DGCL” has the meaning set forth in Section 8.2.

“Entity” shall mean any foreign or domestic general partnership, limited partnership, limited liability company, corporation, joint enterprise, trust, business trust, employee benefit plan, cooperative or association.

“Member” shall mean Carrizo Oil & Gas, Inc., a Texas corporation.

“Officer” means each Person who has been designated as, and who has not ceased to be, an Officer of the Company pursuant to Article VII hereof, which Person has been appointed as an Officer of the Company by a duly adopted resolution of the Board.

“Person” shall mean any individual or Entity, and any heir, executor, administrator, legal representative, successor or assign of such “Person” where the context so admits.

“Proceeding” has the meaning set forth in Section 8.2.

ARTICLE II

FORMATION OF THE COMPANY

2.1 Formation . On February 27, 2013, the Certificate of Formation of the Company was filed with the Secretary of State of the State of Delaware pursuant to the Delaware Act.

2.2 Name . The name of the Company is Carrizo (Permian) LLC. If the Company shall conduct business in any jurisdiction other than the State of Delaware, it shall register the Company or its trade name, as appropriate, with the appropriate authorities in such jurisdiction and take such other action as may be necessary or appropriate for the legal existence of the Company to be recognized.

2.3 Place of Business . The Company may locate its places of business and registered office at any place or places as the Board may from time to time deem advisable.

2.4 Registered Office and Registered Agent . The Company’s registered office shall be at the office of its Registered Agent at Corporation Trust Center, 1209 Orange Street, City of Wilmington, County of New Castle, Delaware, 19801, and the name of its initial Registered Agent at such address shall be The Corporation Trust Company.

 

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2.5 Term . The Company shall continue and this Agreement shall remain in effect until the earliest of (a) such time as all of the Company’s assets have been sold or otherwise disposed of, or (b) such time as the Company’s existence has been terminated as otherwise provided herein or in the Delaware Act.

2.6 Permitted Business; Powers . The Company may carry on any lawful business, purpose, or activity that may lawfully be carried on by a limited liability company organized under the Delaware Act. The Company shall possess and may exercise all the powers and privileges granted by the Delaware Act or by any other law or by this Agreement, together with any powers incidental thereto, including such powers and privileges as are necessary or convenient to the conduct of the business, purposes or activities of the Company.

2.7 Authorized Person in the Certificate of Formation . The execution of the Certificate of Formation by Michael Kennington and the filing thereof in the office of the Secretary of State of the State of Delaware are hereby ratified, confirmed and approved by the Member.

ARTICLE III

MEMBER

3.1 Member . The name and place of business of the Member is as follows:

Carrizo Oil & Gas, Inc.

500 Dallas Street

Suite 2300

Houston, Texas 77002

ARTICLE IV

CAPITAL OF THE COMPANY

4.1 Capital Contributions . The Member shall make an initial capital contribution to the Company of $1,000. The Member may, but shall not be required to, make Capital Contributions in the future. Any contributions may be in the form of cash, securities or tangible assets at the option of the Member.

4.2 Record of Contributions . The books and records of the Company shall include true and full information regarding the amount of cash and cash equivalents and a description and statement of the value of any other property contributed by the Member to the Company.

4.3 Interest . No interest shall be paid by the Company on Capital Contributions.

 

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4.4 Loans from the Member . Loans by the Member to the Company shall not be considered Capital Contributions.

4.5 Loans to Company . Nothing in this Agreement shall prevent the Member from making secured or unsecured loans to the Company by agreement with the Company.

4.6 No Further Obligation . Except for the obligation to make the Capital Contribution required to be made by Section 4.1, the Member shall not have any obligation to provide funds to the Company, whether by Capital Contributions, loans, return of monies received pursuant to the terms of this Agreement or otherwise.

ARTICLE V

RIGHTS AND OBLIGATIONS OF MEMBER

5.1 Limitation of Member’s Responsibility, Liability . The Member shall not be obligated personally for any debt, obligation or liability of the Company, whether arising in contract, tort or otherwise, solely by reason of being a member of the Company.

5.2 Return of Distributions . The Member will be obligated to return any distribution from the Company only to the extent, and during the period, such return is required by Section 18-607 of the Delaware Act.

ARTICLE VI

MANAGEMENT BY BOARD OF DIRECTORS

6.1 Establishment of Board . The Member hereby establishes a Board of Directors (the “Board”) to be comprised of such number of directors (“Directors”) as shall be determined as set forth in this Section 6.1. The initial number of Directors shall be three (3). The number of Directors may be changed from time to time by the Member; provided, however, that pursuant to a resolution adopted by the Board, the number of Directors may be increased and a Director(s) may be appointed to the Board to fill the vacancy created by such increase.

6.2 The Board: Delegation of Authority and Duties .

(a) Members and Board . The business and affairs of the Company shall be managed by the Board, which shall possess all rights and powers which are possessed by managers under the Delaware Act and otherwise by law, pursuant to Section 18-402 of the Delaware Act, subject to the provisions of this Agreement. Except as otherwise expressly provided for herein, the Member hereby consents to the exercise by the Board of all such powers and rights conferred on them by the Delaware Act or otherwise by law with respect to the management and control of the Company. To the fullest extent permitted by applicable law, each Director shall have such rights and duties as are applicable to directors of a corporation under the laws of the State of Delaware.

 

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(b) Delegation by the Board . The Board shall have the power and authority to delegate to one or more other persons the Board’s rights and powers to manage and control the business and affairs of the Company, including delegating such rights and powers of the Board to agents and employees of the Company (including Officers). The Board may authorize any Person (including, without limitation, any Member, Director or Officer) to enter into any document on behalf of the Company and perform the obligations of the Company thereunder. Notwithstanding the foregoing, the Board shall not have the power and authority to delegate any rights or powers customarily requiring the approval of the directors of a corporation under the laws of the State of Delaware and no Officer or other Person shall be authorized or empowered to act on behalf of the Company in any way beyond the customary rights and powers of an officer of a corporation under the laws of the State of Delaware.

(c) Committees . The Board may, from time to time, establish one or more committees and may delegate certain of its responsibilities to such committees. Any such committee shall have such powers and authority of the Board as provided in the enabling resolution of the Board with respect thereto. The Board shall have power at any time to fill vacancies in, to change the membership of, or to dissolve any committee.

6.3 Term of Office . Once designated pursuant to Section 6.1, a Director shall continue in office until the removal of such Director in accordance with the provisions of this Agreement or until the earlier death or resignation of such Director. Any Director may resign at any time by giving written notice of such Director’s resignation to the Board. Any such resignation shall take effect at the time the Board receives such notice or at any later effective time specified in such notice. Unless otherwise specified in such notice, the acceptance by the Board of such Director’s resignation shall not be necessary to make such resignation effective. Notwithstanding anything herein or at law to the contrary, any Director may be removed at any time with or without cause by the Member.

6.4 Meetings of the Board and Committees .

(a) Meetings . The Board (or any committee of the Board) shall meet at such time and at such place as the Chairman of the Board (or the chairman of such committee) may designate. Written notice of all regular meetings of the Board (or any committee of the Board) must be given to all Directors (or all members of such committee) at least ten days prior to the regular meeting of the Board (or such committee). Special meetings of the Board (or any committee of the Board) shall be held at the request of a majority of the Directors (or a majority of the members of such committee) upon at least two (2) days (if the meeting is to be held in person) or twenty-four hours (if the meeting is to be held telephonically) oral or written notice to the Directors (or the members of such committee) or upon such shorter notice as may be approved by the Directors (or the members of such committee). All notices and other communications to be given to Directors (or members of a committee) shall be sufficiently given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service or three days after being mailed by certified or registered mail, return receipt requested, with appropriate postage prepaid, or when received in the form of a telegram, email or facsimile, and shall be directed to the address or facsimile number as such Director (or member) shall designate by notice to the Company. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board (or committee) need be specified in the notice of such meeting. Any Director (or member of such committee) may waive the requirement of such notice as to such Director (or such member).

 

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(b) Conduct of Meetings . Any meeting of the Board (or any committee of the Board) may be held in Person or by conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in Person at such meeting.

(c) Quorum . A majority of all Directors (or members of a committee of the Board), present in Person or participating in accordance with Section 6.4(b), shall constitute a quorum for the transaction of business, but if at any meeting of the Board (or committee) there shall be less than a quorum present, a majority of the Directors (or members) present may adjourn the meeting without further notice. The Directors (or members of a committee of the Board) present at a duly organized meeting may continue to transact business until adjournment, notwithstanding the withdrawal of enough Directors (or members) to leave less than a quorum; provided, however, that only the acts of the Directors (or members of such committee) meeting the requirements of Section 6.5 shall be deemed to be acts of the Board (or such committee).

(d) Procedures . To the extent not inconsistent with this Agreement or the Delaware Act, the procedures and rights governing the Board and its committees shall be as provided to the board of directors and its committees of a corporation under the laws of the State of Delaware.

(e) Chairman of the Board . The chairman of the Board shall preside at all meetings of the Board. The Directors also may elect a vice-chairman to act in the place of the chairman upon his absence or inability to act.

6.5 Voting . Except as otherwise provided in this Agreement, the effectiveness of any vote, consent or other action of the Board (or any committee of the Board) in respect of any matter shall require either (i) the presence of a quorum and the affirmative vote of greater than a majority of the Directors (or members of such committee) present or (ii) the unanimous written consent (in lieu of meeting) of the Directors (or members of such committee) who have been designated and who are then in office. Any Director may vote in Person or by proxy (pursuant to a power of attorney) on any matter that is to be voted on by the Board at a meeting thereof.

6.6 Responsibility and Authority of the Board . Except as otherwise specifically provided in this Agreement, the authority and functions of the Board, on the one hand, and the Officers, on the other hand, shall be identical to the authority and functions of the board of directors and officers, respectively, of a corporation organized under the laws of the State of Delaware. The Officers shall be vested with such powers and duties as are set forth in Article VII hereof and as are specified by the Board from time to time. Accordingly, except as otherwise specifically provided in this Agreement, the business and affairs of the Company shall be managed under the direction of the Board, and the day-to-day activities of the Company shall be conducted on the Company’s behalf by the Officers who shall be agents of the Company.

 

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ARTICLE VII

OFFICERS

7.1 Designation and Appointment . The Board may, from time to time, employ and retain Persons as may be necessary or appropriate for the conduct of the Company’s business (subject to the supervision and control of the Board), including employees, agents and other Persons (any of whom may be a Member or Director) who may be designated as Officers of the Company, with titles including but not limited to “chief executive officer,” “president,” “vice president,” “treasurer,” “secretary,” “general counsel” and “chief financial officer,” as and to the extent authorized by the Board. Any number of offices may be held by the same Person. In the Board’s discretion, the Board may choose not to fill any office for any period as it may deem advisable. Officers need not be residents of the State of Delaware or a Member. Any Officers so designated shall have such authority and perform such duties as the Board may, from time to time, delegate to them. The Board may assign titles to particular Officers. Each Officer shall hold office until his successor shall be duly designated and shall have qualified as an Officer or until his death or until he shall resign or shall have been removed in the manner hereinafter provided. The salaries or other compensation, if any, of the Officers of the Company shall be fixed from time to time by the Board.

7.2 Resignation and Removal . Any Officer may resign as such at any time. Such resignation shall be made in writing and shall take effect at the time specified therein, or if no time be specified, at the time of its receipt by the Board. The acceptance by the Board of a resignation of any Officer shall not be necessary to make such resignation effective, unless otherwise specified in such resignation. Any Officer may be removed as such, either with or without cause, at any time by the Board. Designation of any Person as an Officer by the Board pursuant to the provisions of Section 7.1 shall not in and of itself vest in such Person any contractual or employment rights with respect to the Company.

7.3 Duties of Officers Generally . The Officers, in the performance of their duties as such, shall (i) owe to the Company duties of loyalty and due care of the type owed by the officers of a corporation to such corporation and its stockholders under the laws of the State of Delaware, and (ii) keep the Board reasonably apprised of material developments in the business of the Company.

7.4 President . The president shall be responsible for the general management of the affairs of the Company and shall perform all duties incidental to such person’s office that may be required by law and all such other duties as are properly required of him by the Board. He shall make reports to the Board and shall see that all orders and resolutions of the Board and of any committee thereof are carried into effect. The President may sign, with the Secretary, an Assistant Secretary or any other Officer of the Company thereunto duly authorized by the Board, any deeds, mortgages, bonds, contracts or other instruments that the Board has authorized to be executed, except in cases where the execution thereof shall be expressly delegated by the Board

 

7


or by this Agreement to some other Officer or agent of the Company, or shall be required by applicable law to be otherwise executed. The President, if he is also a director, shall, in the absence of or because of the inability to act of the chairman of the Board, perform all duties of the chairman of the Board and preside at all meetings of the Board.

7.5 Chief Financial Officer . The chief financial officer shall keep complete and accurate records of account, showing at all times the financial condition of the Company. He shall be the legal custodian of all money, notes, securities and other valuables which may from time to time come into the possession of the Company. He shall furnish at meetings of the Board, or whenever requested, a statement of the financial condition of the Company, and shall perform such other duties and have such other powers as the president of the Company or the Board may from time to time prescribe.

7.6 Vice President(s) . The vice president(s) of the Company shall perform such duties and have such other powers as the president of the Company or the Board may from time to time prescribe. A vice president may be designated as an Executive Vice President, a Senior Vice President, an Assistant Vice President, or a vice president with a functional title.

7.7 Secretary .

(a) The secretary of the Company shall attend all meetings of the Board, record all the proceedings of the meetings and perform similar duties for the committees of the Board when required.

(b) The secretary of the Company shall keep all documents as may be required under the Delaware Act. The Secretary (i) shall see that all notices are duly given in accordance with the provisions of this Agreement and as required by applicable law; (ii) shall be custodian of the records and the seal of the Company and affix and attest the seal to all documents to be executed on behalf of the Company under its seal; (iii) shall see that the books, reports, statements, certificates and other documents and records required by applicable law to be kept and filed are properly kept and filed; and (iv) in general, shall have the general duties, powers and responsibilities of a secretary of a corporation and shall perform such other duties and have such other authority as may be prescribed elsewhere in this Agreement or from time to time by the president of the Company or the Board.

(c) If the Board chooses to appoint an assistant secretary or assistant secretaries, the assistant secretaries, in the order of seniority, shall in the Company secretary’s absence, disability or inability to act, perform the duties and exercise the powers of the secretary of the Company, and shall perform such other duties as the president of the Company or the Board may from time to time prescribe.

 

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ARTICLE VIII

INDEMNIFICATION

8.1 Exculpation . Notwithstanding anything to the contrary set forth in this Agreement, no Member, Officer or Director shall be liable for monetary damages to the Company, any Member or any other Person who has acquired an interest in the Company for losses sustained or liabilities incurred as a result of any act or omission of such Member, Officer or Director unless there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter in question, such Member, Officer or Director acted in bad faith or engaged in fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge that his or her conduct was criminal. To the extent that, at law or in equity, a Member, Officer or Director has duties (including fiduciary duties) and liabilities relating thereto to the Company or to the Members, no Member, Officer or Director acting in connection with the Company’s business or affairs shall be liable to the Company or to any Member for its good faith reliance on the provisions of this Agreement. Any amendment, modification or repeal of this Section 8.1 or any provision hereof shall be prospective only and shall not in any way affect the limitations on the liability of any Member, Director or Officer under this Section 8.1 as in effect immediately prior to such amendment, modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted.

8.2 Right to Indemnification . Subject to the limitations and conditions provided in this Article VIII, each Person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, arbitrative or investigative, or any appeal in such a proceeding or any inquiry or investigation that could lead to such a proceeding (any such proceeding, appeal, inquiry or investigation being hereinafter called a “Proceeding”), by reason of the fact that such Person (a) is or was the Member or a Director or is or was serving as an Officer of the Company or (b) while the Member or a Director or a Person serving as an Officer of the Company is or was serving at the written request of the Company as a manager, member, director, officer, partner, venturer, proprietor, trustee, employee, agent, or similar official or functionary of another foreign or domestic limited liability company, corporation, partnership, joint venture, sole proprietorship, trust, employee benefit plan or other enterprise, shall be indemnified by the Company to the fullest extent that would be permitted by the General Corporation Law of the State of Delaware (“DGCL”) as the same exists or may hereafter be amended (but in the case of any such amendment, only to the extent that such amendment provides broader indemnification rights than were provided by the DGCL prior to such amendment) if the Company were a corporation organized under the DGCL and the Member or Director were a director of such a corporation and each such Officer were an officer of such a corporation, against judgments, penalties (including excise and similar taxes and punitive damages), fines, settlements, claims, other liabilities and reasonable expenses (including, without limitation, attorneys’ fees) actually incurred by such Person in connection with such Proceeding, and indemnification under this Article VIII shall continue as to a Person who has ceased to serve in the capacity which initially entitled such Person to indemnity hereunder with respect to actions or omissions prior to such cessation and shall inure to the benefit of the heirs, executors and administrators of such Person. The rights granted pursuant to this Article VIII shall be deemed contract rights, and no amendment, modification or repeal of this Article VIII shall have the effect of limiting or denying any such rights with respect to actions or omissions or Proceedings arising prior to any such amendment, modification or repeal. It is expressly acknowledged that the indemnification provided in this Article VIII could involve indemnification for negligence or liabilities under

 

9


theories of strict liability. Notwithstanding any other provision of this Article VIII, no Person shall be entitled to indemnification or advancement of expenses under this Article VIII with respect to any Proceeding (or any claim in any Proceeding) initiated or made by such Person without the express prior approval of the Board. Notwithstanding any other provision of this Article VIII, and in addition to the other limitations on indemnification under the DGCL incorporated herein as aforesaid, no Person shall be entitled to indemnification under this Article VIII against judgments, penalties, fines, settlements and expenses to the extent they result from actions or omissions involving gross negligence or willful misconduct on the part of such Person.

8.3 Determination of Eligibility . To the extent the DGCL requires a determination as to whether a standard of conduct expressed in Section 145 thereof has been met by a Person or any other determination bearing on whether a Person is entitled to indemnification, such determination shall be made by the Board.

8.4 Advancement of Expenses . A Person who is or was a Member, Director or Officer of the Company who may be entitled to indemnification under this Article VIII shall have the right to be paid or reimbursed by the Company the reasonable expenses (including attorneys’ fees) incurred by such Person in defending a Proceeding in respect of which such indemnity is sought in advance of the final disposition of the Proceeding, upon written request to the Company with a written undertaking, by or on behalf of such Person, to repay the amount so paid or reimbursed if it shall ultimately be determined that such Person is not entitled to be indemnified under this Article VIII.

8.5 Indemnification of Employees and Agents . The Company, by action of the Board, may indemnify and advance expenses to an employee or agent of the Company who is not an Officer of the Company to the same or lesser extent (subject to the same or more restrictive conditions) as it may indemnify and advance expenses to the Member, any Director or any Person serving as an Officer under this Article VIII.

8.6 Appearance as a Witness . Notwithstanding any other provision of this Article VIII, the Company may pay or reimburse expenses incurred by the Member, any Director or any Officer in connection with such Member’s, Director’s or Officer’s appearance as a witness or other participation in a Proceeding at a time when such Member, Director or Officer is not a named defendant or respondent in the Proceeding.

8.7 Right of Claimant to Bring Suit . If a written claim received by the Company from or on behalf of an indemnified party under this Article VIII is not paid in full by the Company within 90 days after such receipt, the claimant may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim and, if successful in whole or in part, the claimant shall be entitled to be paid also the expense of prosecuting such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in advance of its final disposition where the required undertaking, if any is required, has been tendered to the Company) that the claimant has not met the standards of conduct which make it permissible under the DGCL for the Company to indemnify the claimant for the amount claimed, but the burden of proving such defense shall be on the Company. Neither the failure of the Company (including the Board, independent legal

 

10


counsel, or the Member) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because he or she has met the applicable standard of conduct set forth in the DGCL, nor an actual determination by the Company (including the Board, independent legal counsel, or the Member) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of conduct.

8.8 Nonexclusivity of Rights . The right to indemnification and advancement and payment of expenses conferred in this Article VIII shall not be exclusive of any other right which the Member, Director or other Person indemnified pursuant to Section 8.2 may have or hereafter acquire under any law (common or statutory), provision of the Certificate of Formation or this Agreement, agreement, action of the Member or Directors or otherwise.

8.9 Insurance . The Company may purchase and maintain insurance, at its expense, to protect itself and any Person who is the Member or a Director or was serving as an Officer, employee or agent of the Company, whether or not the Company would have the power to indemnify such Person against such expense, liability or loss under this Article VIII.

8.10 Savings Clause . If this Article VIII or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify and hold harmless the Member, any Director or any other Person indemnified pursuant to this Article VIII as to costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative to the full extent permitted by any applicable portion of this Article VIII that shall not have been invalidated and to the fullest extent permitted by applicable law.

ARTICLE IX

ACCOUNTING PERIOD, RECORDS AND REPORTS

9.1 Accounting Method . The books and records of account of the Company shall be maintained in accordance with any permissible method of accounting as determined by the Board or the appropriate Officers.

9.2 Accounting Period . The Company’s accounting period shall be the calendar year.

9.3 Inspection . The books and records of the Company shall be maintained at the principal place of business of the Company and shall be open to inspection by the Member at all reasonable times during any business day.

9.4 Preparation of Financial Statements . The appropriate Officers shall cause to be prepared from the books of the Company and delivered to the Member and the Board such financial statements and reports as the Member shall from time to time request.

 

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ARTICLE X

TAX MATTERS

10.1 Tax Returns and Elections . The appropriate Officers or the Board shall cause the preparation and timely filing of all tax returns required to be filed by the Company pursuant to the Code and all other tax returns deemed necessary and required in each jurisdiction in which the Company does business and shall make such elections on behalf of the Company under applicable tax laws as the Board or the appropriate Officers shall determine. Copies of such returns, or pertinent information therefrom, shall be furnished to the Member promptly after filing.

ARTICLE XI

DISSOLUTION AND TERMINATION

11.1 Dissolution . The Company shall dissolve if the Member or the Board so determine in writing or as otherwise provided under the Delaware Act.

11.2 Effect of Dissolution . Upon dissolution of the Company, the Company shall cease to carry on its business, except insofar as may be necessary for the winding up of its business, but its separate existence shall continue until a Certificate of Cancellation has been issued by the Secretary of State or until a decree dissolving the Company has been entered by a court of competent jurisdiction.

11.3 Winding Up, Liquidating and Distribution of Assets .

(a) Upon dissolution, an accounting shall be made of the accounts of the Company and of the Company’s assets, liabilities and operations, from the date of the last previous accounting until the date of dissolution. The Board shall immediately proceed to wind up the affairs of the Company.

(b) If the Company is dissolved and its affairs are to be wound up, the Board shall (1) sell or otherwise liquidate all of the Company’s assets as promptly as practicable (except to the extent the Board determines to distribute any assets in kind to the Member), (2) allocate any income or loss resulting from such sales to the Member in accordance with this Agreement, (3) discharge all liabilities to creditors in the order of priority as provided by law, (4) establish such reserves as the Board may reasonably determine to be necessary to provide for contingent liabilities of the Company, (5) discharge any liabilities of the Company to the Member other than on account of its interest in Company capital or profits, including all costs relating to the dissolution, winding up and liquidation and distribution of assets and (6) distribute the remaining assets to the Member, either in cash or in kind. If any assets of the Company are to be distributed in kind, the net fair market value of such assets as of the date of dissolution shall be determined by the Board or by independent appraisal.

 

12


(c) Notwithstanding anything to the contrary in this Agreement, upon a liquidation of the Company the Member shall not have any obligation to make any contribution to the capital of the Company other than any Capital Contributions the Member agreed to make in accordance with this Agreement.

(d) Upon completion of the winding up, liquidation and distribution of the assets, the Company shall be deemed terminated.

(e) The Board shall comply with any applicable requirements of applicable law pertaining to the winding up of the affairs of the Company and the final distribution of its assets.

11.4 Certificate of Cancellation . When all debts, liabilities and obligations have been paid and discharged or adequate provisions have been made therefore and all of the remaining property and assets have been distributed to the Member, a Certificate of Cancellation shall be executed, and verified by the Person signing the Certificate of Cancellation and filed with the Delaware Secretary of State, which Certificate shall set forth the information required by the Delaware Act.

ARTICLE XII

MISCELLANEOUS

12.1 Notices . Any notice, demand or communication required or permitted to be given by any provision of this Agreement shall be deemed to have been sufficiently given or served for all purposes if delivered personally to the party against receipt or to an officer of the party to whom the same is directed against receipt or if sent by registered or certified mail, postage and charges prepaid, addressed to the Member’s and/or Company’s address, as appropriate, which is set forth in this Agreement. If mailed, any such notice shall be deemed to be delivered two calendar days after being deposited in the United States mail with postage thereon prepaid, addressed and sent as aforesaid.

12.2 Application of Delaware Law . This Agreement shall be governed by the law of the State of Delaware applicable to agreements as if made and to be performed wholly within such state (without giving effect to any principles of conflicts of laws that would refer the same to the laws of another jurisdiction), and specifically the Delaware Act.

12.3 Headings . The headings of the provisions of this Agreement are inserted for convenience of reference and are not intended to describe, interpret, define or limit the scope or intent of this Agreement or any provision hereof.

12.4 Waivers . No waiver of any right under this Agreement shall be effective unless evidenced in writing and executed by the Person entitled to the benefits thereof. The failure of any party to seek redress for violation of or to insist upon the strict performance of any covenant or condition of this Agreement shall not prevent another act or omission, which would have originally constituted a violation, from having the effect of an original violation.

 

13


12.5 Rights and Remedies Cumulative . The rights and remedies provided by this Agreement are cumulative and the use of any one right or remedy by any party shall not preclude or waive the right to use any or all other rights or remedies. Said rights and remedies are given in addition to any other rights the parties may have by law, statute, ordinance or otherwise.

12.6 Severability . If any provision of this Agreement or the application thereof to any Person or circumstance shall be invalid, illegal or unenforceable to any extent, the remainder of this Agreement and the application thereof shall not be affected and shall be enforceable to the fullest extent permitted by law.

12.7 Heirs, Successors and Assigns . Each and all of the covenants, terms, provisions and agreements herein contained shall be binding upon and inure to the benefit of the parties hereto and, to the extent permitted by this Agreement, their respective heirs, legal representatives, successors and assigns.

12.8 Beneficiaries . None of the provisions of this Agreement shall be for the benefit of or enforceable by any Person other than the Company and the Member.

 

14


The undersigned, being the sole Member of the Company, hereby certifies that the foregoing Agreement is the Limited Liability Company Agreement of the Company, that such Agreement has been duly adopted and is binding on the Company and its Member, and that such Member agrees to be bound by the terms of the foregoing Agreement.

EXECUTED to be effective as of the date first above written.

 

MEMBER:
CARRIZO OIL & GAS, INC., a Texas corporation
By:   /s/ Paul F. Boling
  Paul F. Boling
  Vice President

Exhibit 5.2

 

 

LOGO

  

ONE SHELL PLAZA

910 LOUISIANA

HOUSTON, TEXAS

77002-4995

 

TEL +1 713.229.1234

FAX +1 713.229.1522

BakerBotts.com

  

AUSTIN

BEIJING

BRUSSELS

DALLAS

DUBAI

HONG KONG

HOUSTON

  

LONDON

MOSCOW

NEW YORK

PALO ALTO

RIYADH

SAN FRANCISCO

WASHINGTON

June 28, 2017

Carrizo Oil & Gas, Inc.

500 Dallas Street, Suite 2300

Houston, Texas 77002

Ladies and Gentlemen:

As set forth in the Post-Effective Amendment No. 1 (the “Amendment”) to Registration Statement on Form S-3 (No. 333-198459) (the “Registration Statement”) of Carrizo Oil & Gas, Inc., a Texas corporation (the “Company”), Bandelier Pipeline Holding, LLC, a Delaware limited liability company (“Bandelier”), Carrizo (Eagle Ford) LLC, a Delaware limited liability company (“Eagle Ford LLC”), Carrizo (Marcellus) LLC, a Delaware limited liability company (“Marcellus LLC”), Carrizo (Marcellus) WV LLC, a Delaware limited liability company (“Marcellus WV LLC”), Carrizo (Niobrara) LLC, a Delaware limited liability company (“Niobrara LLC”), Carrizo (Permian) LLC, a Delaware limited liability company (“Permian LLC”), Carrizo (Utica) LLC, a Delaware limited liability company (“Utica LLC”), Carrizo Marcellus Holding Inc., a Delaware corporation (“Marcellus Holding”), CLLR, Inc., a Delaware corporation (“CLLR”), Hondo Pipeline, Inc., a Delaware corporation (“Hondo Pipeline”) and Mescalero Pipeline, LLC, a Delaware limited liability company (“Mescalero,” and together with Bandelier, Eagle Ford LLC, Marcellus LLC, Marcellus WV LLC, Niobrara LLC, Permian LLC, Utica LLC, Marcellus Holding, CLLR and Hondo Pipeline, the “Subsidiary Guarantors”), to be filed on or about the date hereof with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Act”), relating to the offering of securities that may be issued and sold by the Company and the Subsidiary Guarantors, certain legal matters in connection with the securities are being passed upon for the Company by us. Such securities include guarantees by the Subsidiary Guarantors (the “Subsidiary Guarantees”) of the unsecured debt securities of the Company that are registered on the Registration Statement (the “Debt Securities”). At your request, this opinion is being furnished to you for filing as Exhibit 5.2 to the Registration Statement.

In our capacity as your counsel in the connection referred to above, we have examined (i) the Amended and Restated Articles of Incorporation of the Company, as amended to date, and the Amended and Restated Bylaws of the Company, as amended to date, (ii) the Certificate of Incorporation and the Bylaws of each of CLLR, Hondo Pipeline and Marcellus Holding, each as amended to date, and the Certificate of Formation and Limited Liability Company Agreement of each of Bandelier, Eagle Ford LLC, Marcellus LLC, Marcellus WV LLC, Niobrara LLC, Permian LLC, Utica LLC and Mescalero, each as amended to date, (iii) the Indenture dated as of May 28, 2008 among the Company, the Subsidiary Guarantors, as potential subsidiary guarantors, and Wells Fargo Bank, National Association, as trustee and filed as an exhibit to the Registration Statement, as supplemented and amended by (A) a First Supplemental Indenture thereto, dated as of May 28, 2008 (“First Supplemental Indenture”), (B) a Second Supplemental Indenture thereto, dated as of May 14, 2009 (“Second Supplemental Indenture”), (C) a Third Supplemental Indenture thereto, dated as of October 19, 2009 (“Third Supplemental


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Carrizo Oil & Gas, Inc.    - 2 -    June 28, 2017

 

Indenture”), (D) a Fourth Supplemental Indenture thereto, dated as of November 2, 2010 (“Fourth Supplemental Indenture”), (E) a Fifth Supplemental Indenture thereto, dated as of November 2, 2010 (“Fifth Supplemental Indenture”), (F) a Sixth Supplemental Indenture thereto, dated as of May 4, 2011 (“Sixth Supplemental Indenture”), (G) a Seventh Supplemental Indenture thereto, dated as of May 4, 2011 (“Seventh Supplemental Indenture”), (H) an Eighth Supplemental Indenture thereto, dated as of August 5, 2011 (“Eighth Supplemental Indenture”), (I) an Officers’ Certificate of the Company dated as of November 17, 2011 (the “2011 Officer’s Certificate”) (J) a Ninth Supplemental Indenture thereto, dated as of August 5, 2011 (“Ninth Supplemental Indenture”), (K) a Tenth Supplemental Indenture thereto, dated as of September 10, 2012 (“Tenth Supplemental Indenture”), (L) an Eleventh Supplemental Indenture thereto, dated as of November 6, 2012 (“Eleventh Supplemental Indenture”), (M) a Twelfth Supplemental Indenture thereto, dated as of November 6, 2012 (“Twelfth Supplemental Indenture”), (N) a Thirteenth Supplemental Indenture thereto, dated as of November 6, 2012 (“Thirteenth Supplemental Indenture”), (O) a Fourteenth Supplemental Indenture thereto, dated as of November 6, 2012 (“Fourteenth Supplemental Indenture”), (P) a Fifteenth Supplemental Indenture thereto, dated as of October 30, 2014 (“Fifteenth Supplemental Indenture”), (Q) an Officers’ Certificate of the Company dated as of February 23, 2015 (the “2015 Officer’s Certificate”), (R) a Sixteenth Supplemental Indenture thereto, dated as of April 28, 2015 (“Sixteenth Supplemental Indenture”), (S) a Seventeenth Supplemental Indenture thereto, dated as of May 20, 2015 (“Seventeenth Supplemental Indenture”), (T) a Eighteenth Supplemental Indenture thereto, dated as of May 20, 2015 (“Eighteenth Supplemental Indenture”), and (U) a Nineteenth Supplemental Indenture thereto, dated as of May 20, 2015 (“Nineteenth Supplemental Indenture”) (such Indenture, as amended and supplemented by the First Supplemental Indenture, Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental Indenture, the Seventh Supplemental Indenture, the Eighth Supplemental Indenture, the 2011 Officers’ Certificate, the Ninth Supplemental Indenture, the Tenth Supplemental Indenture, the Eleventh Supplemental Indenture, the Twelfth Supplemental Indenture, the Thirteenth Supplemental Indenture, the Fourteenth Supplemental Indenture, the Fifteenth Supplemental Indenture, the 2015 Officers’ Certificate, the Sixteenth Supplemental Indenture, the Seventeenth Supplemental Indenture, the Eighteenth Supplemental Indenture, and the Nineteenth Supplemental Indenture, the “Senior Debt Indenture”), (iv) the Form of Subordinated Indenture, in the form filed as an exhibit to the Registration Statement (the “Subordinated Debt Indenture”), (v) the originals, or copies certified or otherwise identified, of corporate records of the Company and the Subsidiary Guarantors and (vi) certificates of public officials and of representatives of the Company, statutes and other instruments and documents as a basis for the opinions hereinafter expressed.

In giving such opinions, we have relied, without independent investigation, upon certificates of officers of the Company and of public officials with respect to the accuracy of the material factual matters contained in such certificates. In giving the opinions below, we have assumed, without independent investigation, that the signatures on all documents examined by us are genuine, that all documents submitted to us as originals are accurate and complete, that all documents submitted to us as copies are true and correct copies of the originals thereof and that all information submitted to us was accurate and complete.


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Carrizo Oil & Gas, Inc.    - 3 -    June 28, 2017

 

In connection with this opinion, we have also assumed that (i) the Registration Statement, and any amendments thereto (including the Amendment and any other post-effective amendments), will have become effective under the Act; (ii) a prospectus supplement will have been prepared and filed with the Commission describing the Subsidiary Guarantees offered thereby; (iii) all Subsidiary Guarantees will be offered, issued and sold in compliance with applicable securities laws and in the manner stated in the Registration Statement and the appropriate prospectus supplement; and (iv) a definitive purchase, underwriting or similar agreement with respect to any Subsidiary Guarantees offered will have been duly authorized and validly executed and delivered by the Company, the Subsidiary Guarantors, if applicable, and the other parties thereto.

On the basis of the foregoing, and subject to the assumptions, limitations and qualifications set forth herein, we are of the opinion that:

1. With respect to any Subsidiary Guarantees to be included in the Debt Securities and issued under the Senior Debt Indenture, when (i) any applicable supplemental indenture to the Senior Debt Indenture has been duly authorized and validly executed and delivered by the Company, the Subsidiary Guarantors, if applicable, and Wells Fargo Bank, National Association, as trustee, (ii) the Senior Debt Indenture and any applicable supplemental indenture thereto have been duly qualified under the Trust Indenture Act of 1939, as amended, (iii) the Board has taken all necessary corporate action to approve and establish the terms of such Subsidiary Guarantees, to approve the issuance thereof and the terms of the offering thereof and related matters and such Subsidiary Guarantees do not include any provision that is unenforceable, (iv) the Board of Directors (or equivalent thereof) of each Subsidiary Guarantor, if applicable, has taken all necessary action (corporate or other organizational) to approve and establish the terms of the Subsidiary Guarantee, to approve the issuance thereof and the terms of the offering thereof and related matters, and (v) such Subsidiary Guarantees have been duly executed, authenticated, issued and delivered in accordance with both the provisions of the Senior Debt Indenture and any applicable supplemental indenture thereto and the provisions of the applicable definitive purchase, underwriting or similar agreement approved by the Board upon payment of the consideration therefor provided for therein, such Subsidiary Guarantees will constitute legal, valid and binding obligations of the Subsidiary Guarantors enforceable against the Subsidiary Guarantors, except as the enforceability thereof is subject to the effect of (i) any applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other laws relating to or affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) any implied covenants of good faith and fair dealing.


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Carrizo Oil & Gas, Inc.    - 4 -    June 28, 2017

 

2. With respect to any Subsidiary Guarantees included in the Debt Securities and issued under the Subordinated Debt Indenture, when (i) the Subordinated Debt Indenture and any applicable supplemental indenture thereto has been duly authorized and validly executed and delivered by the Company, the Subsidiary Guarantors, if applicable, and Wells Fargo Bank, National Association, as trustee, (ii) the Subordinated Debt Indenture and any applicable supplemental indenture thereto have been duly qualified under the Trust Indenture Act of 1939, as amended, (iii) the Board has taken all necessary corporate action to approve and establish the terms of such Subsidiary Guarantees, to approve the issuance thereof and the terms of the offering thereof and related matters and such Subsidiary Guarantees do not include any provision that is unenforceable, (iv) the Board of Directors (or equivalent thereof) of each Subsidiary Guarantor, if applicable, has taken all necessary action (corporate or other organizational) to approve and establish the terms of the Subsidiary Guarantee, to approve the issuance thereof and the terms of the offering thereof and related matters, and (v) such Subsidiary Guarantees have been duly executed, authenticated, issued and delivered in accordance with both the provisions of the Subordinated Debt Indenture and any applicable supplemental indenture thereto and the provisions of the applicable definitive purchase, underwriting or similar agreement approved by the Board upon payment of the consideration therefor provided for therein, such Subsidiary Guarantees will constitute legal, valid and binding obligations of the Subsidiary Guarantors enforceable against the Subsidiary Guarantors, except as the enforceability thereof is subject to the effect of (i) any applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other laws relating to or affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) any implied covenants of good faith and fair dealing.

The opinions set forth above are limited in all respects to matters of the contract law of the State of New York, the laws of the State of Texas, the General Corporation Law of the State of Delaware, the Delaware Limited Liability Company Act and the applicable federal laws of the United States, in each case as in effect on the date hereof. We hereby consent to the filing of this opinion of counsel as Exhibit 5.2 to the Amendment and any related 462(b) Registration Statement. We also consent to the reference to our Firm under the heading “Legal Matters” in the prospectus forming a part of the Registration Statement. In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

 

Very truly yours,
/s/ Baker Botts L.L.P.

Exhibit 12.1

CARRIZO OIL & GAS, INC.

STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In thousands, except ratios)

 

     Years Ended December 31,     Three
Months
Ended
March 31,
 
     2016     2015     2014     2013     2012     2017  

Earnings

            

Income (loss) from continuing operations before income taxes

   ($ 675,474   ($ 1,298,760   $ 350,210     $ 34,761     $ 82,133     $ 40,021  

Fixed charges

     100,299       105,003       90,451       86,795       74,852       25,295  

Interest capitalized

     (17,026     (32,090     (34,545     (29,889     (24,848     (3,781
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings

   ($ 592,201   ($ 1,225,847   $ 406,116     $ 91,667     $ 132,137     $ 61,535  

Fixed Charges

            

Interest expense

   $ 96,429     $ 101,285     $ 87,716     $ 84,578     $ 73,006     $ 24,352  

Interest portion of rental expense

     3,870       3,718       2,735       2,217       1,846       943  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

   $ 100,299     $ 105,003     $ 90,451     $ 86,795     $ 74,852     $ 25,295  

Ratio of Earnings to Fixed Charges

     (1)     (2)     4.49       1.06       1.77       2.43  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Earnings for the year ended December 31, 2016 were insufficient to cover fixed charges by $692.5 million primarily due to non-cash impairments of proved oil and gas properties of $576.5 million.
(2) Earnings for the year ended December 31, 2015 were insufficient to cover fixed charges by $1.3 billion primarily due to non-cash impairments of proved oil and gas properties of $1.2 billion.

We had no preferred stock outstanding for any period presented, and accordingly, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

The Board of Directors

Carrizo Oil & Gas, Inc.:

We consent to the use of our reports dated February 27, 2017, with respect to the consolidated balance sheets of Carrizo Oil & Gas, Inc. as of December 31, 2016 and 2015, and the related consolidated statements of operations, shareholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2016, and the effectiveness of internal control over financial reporting as of December 31, 2016, incorporated herein by reference and to the reference to our firm under the heading “Experts” in the registration statement.

Our report dated February 27, 2017 refers to a change in method of accounting for deferred tax assets and liabilities.

/s/ KPMG LLP

Houston, Texas

June 28, 2017

Exhibit 23.2

CONSENT OF INDEPENDENT PETROLEUM ENGINEERS

We hereby consent to the incorporation by reference in this Post-Effective Amendment No. 1 to Registration Statement on Form S-3 (No. 333-198459) (the “Registration Statement”) of Carrizo Oil & Gas, Inc., a Texas corporation, of the information contained in our reserve report that is summarized as of December 31, 2016, in our summary letter dated February 3, 2017, relating to estimates of proved reserves attributable to certain interests of Carrizo Oil & Gas, Inc. as of December 31, 2016.

We hereby consent to all references to such report, letter, or this firm in the Registration Statement and each Prospectus to which the Registration Statement relates. We further consent to our being named as an expert in the Registration Statement and each Prospectus to which the Registration Statement relates.

 

/s/ RYDER SCOTT COMPANY, L.P.
RYDER SCOTT COMPANY, L.P.
TBPE Firm Registration No. F-1580

Houston, Texas

June 28, 2017

Exhibit 25.1

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

 

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

 

 

A National Banking Association   94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No.)

101 North Phillips Avenue

Sioux Falls, South Dakota

  57104
(Address of principal executive offices)   (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17 th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

CARRIZO OIL & GAS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Texas
  76-0415919

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification No.)

500 Dallas Street, Suite 2300

Houston, Texas 77002

(713) 328-1000

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 

 

Senior Notes

Guarantees of Senior Notes

 

Exact Name of Additional Registrants

as Specified in Their Respective Charters*

  

Jurisdiction of
Incorporation/

Organization

  

I.R.S. Employer
Identification
Number

Bandelier Pipeline Holding, LLC

   Delaware    27-0629697

Carrizo (Eagle Ford) LLC

   Delaware    45-2648836

Carrizo (Marcellus) LLC

   Delaware    26-3529055

Carrizo (Marcellus) WV LLC

   Delaware    27-3279601

Carrizo (Niobrara) LLC

   Delaware    45-2648909

Carrizo (Permian) LLC

   Delaware    46-2191866

Carrizo (Utica) LLC

   Delaware    45-3092066

Carrizo Marcellus Holding Inc.

   Delaware    26-3528920

CLLR, Inc.

   Delaware    20-5154104

Hondo Pipeline, Inc.

   Delaware    26-1309563

Mescalero Pipeline, LLC

   Delaware    27-0638159

 

* The address and telephone number of each additional registrant’s principal executive office is 500 Dallas Street, Suite 2300, Houston, Texas 77002, Telephone (713) 328-1000.

 

 

 


Item 1. General Information. Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency

Treasury Department

Washington, D.C.

Federal Deposit Insurance Corporation

Washington, D.C.

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee . Not applicable.

Item 16. List of Exhibits . List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1.    A copy of the Articles of Association of the trustee now in effect.*
Exhibit 2.    A copy of the Comptroller of the Currency Certificate of Corporate Existence for Wells Fargo Bank, National Association, dated January 14, 2015.**
Exhibit 3.    A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated January 6, 2014.**
Exhibit 4.    Copy of By-laws of the trustee as now in effect.**
Exhibit 5.    Not applicable.
Exhibit 6.    The consent of the trustee required by Section 321(b) of the Act.
Exhibit 7.    A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.    Not applicable.
Exhibit 9.    Not applicable.


* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of file number 333-130784.
** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit to the Filing 305B2 dated March 13, 2015 of file number 333-190926.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Dallas and State of Texas on the 28 th of June, 2017.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

LOGO

 

Patrick T. Giordano
Vice President


EXHIBIT 6

June 28, 2017

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.

 

Very truly yours,
WELLS FARGO BANK, NATIONAL ASSOCIATION
LOGO
Patrick T. Giordano
Vice President


Exhibit 7

Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business March 31, 2017, filed in accordance with 12 U.S.C. §161 for National Banks.

 

            Dollar Amounts
In Millions
 

ASSETS

     

Cash and balances due from depository institutions:

     

Noninterest-bearing balances and currency and coin

      $ 18,876  

Interest-bearing balances

        227,559  

Securities:

     

Held-to-maturity securities

        107,924  

Available-for-sale securities

        278,250  

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        111  

Securities purchased under agreements to resell

        27,170  

Loans and lease financing receivables:

     

Loans and leases held for sale

        13,728  

Loans and leases, net of unearned income

     916,710     

LESS: Allowance for loan and lease losses

     10,285     

Loans and leases, net of unearned income and allowance

        906,425  

Trading Assets

        45,041  

Premises and fixed assets (including capitalized leases)

        7,728  

Other real estate owned

        845  

Investments in unconsolidated subsidiaries and associated companies

        11,241  

Direct and indirect investments in real estate ventures

        271  

Intangible assets

     

Goodwill

        22,669  

Other intangible assets

        17,237  

Other assets

        64,101  
     

 

 

 

Total assets

      $ 1,749,176  
     

 

 

 

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 1,245,096  

Noninterest-bearing

     408,018     

Interest-bearing

     837,078     

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        122,120  

Noninterest-bearing

     981     

Interest-bearing

     121,139     

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        8,893  

Securities sold under agreements to repurchase

        7,261  


     Dollar Amounts
In Millions
 

Trading liabilities

     13,575  

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

     153,308  

Subordinated notes and debentures

     13,199  

Other liabilities

     28,578  
  

 

 

 

Total liabilities

   $ 1,592,030  

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0  

Common stock

     519  

Surplus (exclude all surplus related to preferred stock)

     106,707  

Retained earnings

     50,815  

Accumulated other comprehensive income

     (1,291

Other equity capital components

     0  
  

 

 

 

Total bank equity capital

     156,750  

Noncontrolling (minority) interests in consolidated subsidiaries

     396  
  

 

 

 

Total equity capital

     157,146  
  

 

 

 

Total liabilities, and equity capital

   $ 1,749,176  
  

 

 

 

I, John R. Shrewsberry, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

 

John R. Shrewsberry
Sr. EVP & CFO

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

                    Directors

Enrique Hernandez, Jr

Stephen Sanger

Lloyd Dean

Exhibit 25.2

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

 

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

 

 

A National Banking Association   94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No.)

101 North Phillips Avenue

Sioux Falls, South Dakota

  57104
(Address of principal executive offices)   (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17 th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

CARRIZO OIL & GAS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Texas
  76-0415919

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification No.)

500 Dallas Street, Suite 2300

Houston, Texas 77002

(713) 328-1000

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 

 

Senior Subordinated Notes

Guarantees of Senior Subordinated Notes

 

Exact Name of Additional Registrants

as Specified in Their Respective Charters*

  

Jurisdiction of

Incorporation/

Organization

  

I.R.S. Employer
Identification Number

Bandelier Pipeline Holding, LLC

   Delaware    27-0629697

Carrizo (Eagle Ford) LLC

   Delaware    45-2648836

Carrizo (Marcellus) LLC

   Delaware    26-3529055

Carrizo (Marcellus) WV LLC

   Delaware    27-3279601

Carrizo (Niobrara) LLC

   Delaware    45-2648909

Carrizo (Permian) LLC

   Delaware    46-2191866

Carrizo (Utica) LLC

   Delaware    45-3092066

Carrizo Marcellus Holding Inc.

   Delaware    26-3528920

CLLR, Inc.

   Delaware    20-5154104

Hondo Pipeline, Inc.

   Delaware    26-1309563

Mescalero Pipeline, LLC

   Delaware    27-0638159

 

* The address and telephone number of each additional registrant’s principal executive office is 500 Dallas Street, Suite 2300, Houston, Texas 77002, Telephone (713) 328-1000.

 

 

 


Item 1. General Information. Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency

Treasury Department

Washington, D.C.

Federal Deposit Insurance Corporation

Washington, D.C.

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

Item 2. Affiliations with Obligor . If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee . Not applicable.

Item 16. List of Exhibits . List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1.    A copy of the Articles of Association of the trustee now in effect.*
Exhibit 2.    A copy of the Comptroller of the Currency Certificate of Corporate Existence for Wells Fargo Bank, National Association, dated January 14, 2015.**
Exhibit 3.    A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated January 6, 2014.**
Exhibit 4.    Copy of By-laws of the trustee as now in effect.**
Exhibit 5.    Not applicable.
Exhibit 6.    The consent of the trustee required by Section 321(b) of the Act.
Exhibit 7.    A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.    Not applicable.
Exhibit 9.    Not applicable.


* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of file number 333-130784.

 

** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit to the Filing 305B2 dated March 13, 2015 of file number 333-190926.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Dallas and State of Texas on the 28 th of June, 2017.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

LOGO

 

Patrick T. Giordano
Vice President


EXHIBIT 6

June 28, 2017

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.

 

Very truly yours,
WELLS FARGO BANK, NATIONAL ASSOCIATION

LOGO

 

Patrick T. Giordano
Vice President


Exhibit 7

Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business March 31, 2017, filed in accordance with 12 U.S.C. §161 for National Banks.

 

            Dollar Amounts
In Millions
 

ASSETS

     

Cash and balances due from depository institutions:

     

Noninterest-bearing balances and currency and coin

      $ 18,876  

Interest-bearing balances

        227,559  

Securities:

     

Held-to-maturity securities

        107,924  

Available-for-sale securities

        278,250  

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        111  

Securities purchased under agreements to resell

        27,170  

Loans and lease financing receivables:

     

Loans and leases held for sale

        13,728  

Loans and leases, net of unearned income

     916,710     

LESS: Allowance for loan and lease losses

     10,285     

Loans and leases, net of unearned income and allowance

        906,425  

Trading Assets

        45,041  

Premises and fixed assets (including capitalized leases)

        7,728  

Other real estate owned

        845  

Investments in unconsolidated subsidiaries and associated companies

        11,241  

Direct and indirect investments in real estate ventures

        271  

Intangible assets

     

Goodwill

        22,669  

Other intangible assets

        17,237  

Other assets

        64,101  
     

 

 

 

Total assets

      $ 1,749,176  
     

 

 

 

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 1,245,096  

Noninterest-bearing

     408,018     

Interest-bearing

     837,078     

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        122,120  

Noninterest-bearing

     981     

Interest-bearing

     121,139     

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        8,893  

Securities sold under agreements to repurchase

        7,261  


     Dollar Amounts
In Millions
 

Trading liabilities

     13,575  

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

     153,308  

Subordinated notes and debentures

     13,199  

Other liabilities

     28,578  
  

 

 

 

Total liabilities

   $ 1,592,030  

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0  

Common stock

     519  

Surplus (exclude all surplus related to preferred stock)

     106,707  

Retained earnings

     50,815  

Accumulated other comprehensive income

     (1,291

Other equity capital components

     0  
  

 

 

 

Total bank equity capital

     156,750  

Noncontrolling (minority) interests in consolidated subsidiaries

     396  
  

 

 

 

Total equity capital

     157,146  
  

 

 

 

Total liabilities, and equity capital

   $ 1,749,176  
  

 

 

 

I, John R. Shrewsberry, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

 

John R. Shrewsberry
Sr. EVP & CFO

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

                            Directors

Enrique Hernandez, Jr

Stephen Sanger

Lloyd Dean