The company closed on the sale of its Marcellus and Utica assets earlier in November. "The sale of the D-J Basin assets is another step towards achieving our leverage reduction goals and positioning Carrizo to be able to deliver strong, high-return production growth within cash flow," S.P. "Chip" Johnson IV, Carrizo's president and CEO, said in a statement. As of third-quarter 2017 and pro forma for transactions to date, Sorbara estimates Carrizo has total debt of about $1.5 billion and total liquidity of $892.7 million. He noted that Carrizo has also previously discussed the possibility of selling non-strategic assets in the Eagle Ford and Delaware Basin with proceeds going towards reducing debt. "We believe the company is well positioned to execute with a streamlined portfolio concentrated on two core assets," he said. Carrizo said it expects to close the D-J Basin sale in January. The effective date of the transaction is Sept. 1.