At Carrizo, we strive to deliver sustainable growth for our shareholders. In order to do this, we believe we must not only focus on the bottom line but also act as a good corporate citizen. As a result, we are committed to an operating philosophy that provides our employees a safe work place while at the same time conducting operations in a manner that is environmentally sensitive and community aware.
Our industry, oil and gas exploration and production, is a cyclical commodity business. As companies in our industry have little control over the price received for our product, we believe oil and gas companies must be low cost operators in order to deliver sustainable growth. To achieve this, we have focused on acquiring acreage in plays that have the potential to be low on the cost curve. But having good assets only provides the foundation for delivering sustainable growth. A strong technical and operational team is also required to generate profitable, long-term growth for our shareholders, so we strive to make Carrizo a great place to work, where our employees can enjoy highly rewarding careers and share in the success of the Company.
In addition to focusing on generating profitable, long-term growth for our shareholders, we are also committed to operating in a responsible and environmentally-sensitive manner. At a minimum, it is our policy to comply with all local, state, and federal regulations governing our business in order to protect the health and safety of the communities where we operate. We strive to work with our communities to minimize the impact of oil and gas development and ensure that they also benefit from our operations.