GRI Index

Standard Disclosure Title Disclosure and/or location of disclosure
GRI 102: General Disclosures
Organizational Profile 102-1 Name of the organization Carrizo Oil & Gas
102-2 Activities, brands, products, and services https://www.carrizo.com/about/about-us/default.aspx or 2018 Annual Report Form 10-K, Item 1. Business
102-3 Location of headquarters https://www.carrizo.com/about/contact-us/default.aspx
102-4 Location of operations https://www.carrizo.com/about/contact-us/default.aspx or https://www.carrizo.com/operations/our-operations/default.aspx
102-6 Markets served 2018 Annual Report Form 10-K, Item 1. Business
102-7 Scale of the organization 2018 Annual Report Form 10-K
-Item 1. Business
-Item 6. Selected Financial Data
-Consolidated Financial Statements
102-8 Information on employees and other workers
Employment Type and Breakdown


2018 Employment Type Male Female Total
Full time employees 172 67 239
Part time employees 0 0 0
Total employment 172 67 239




2018 Employee by Region Male Female Total
Eagle Ford 55 3 58
Delaware Basin 18 2 20
Niobrara 0 0 0
Appalachia 0 0 0
Corporate/Houston 99 62 161
Total 172 67 239
102-9 Supply chain Carrizo's supply chain is comprised of thousands of suppliers and independent contractors from multinational corporations to local businesses. These suppliers and independent contractors provide Carrizo with products, materials, and services integral to our business. Each operating team within our company is responsible for sourcing and procuring the materials and contractors required for their operations. We utilize a highly distributed supply chain and often diversify our suppliers in order to reduce cost while maintaining high quality products and service standards. In 2016, 2017, and 2018, Carrizo spent approximately $432 MM, $717 MM, and $867 MM, respectively, in total goods and services with our suppliers and independent contractors
102-10 Significant changes to the organization and its supply chain 2018 Annual Report Form 10-K
-Item 1. Business
-Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
102-13 Membership of associations Carrizo is represented in a number of organizations including IPAA, Agape Development, Marine Corps Scholarship Foundation, Open Door Mission, Spindletop Charities, Houston Dynamo Kicks for Kids, Crime Stoppers, Today's Harbor for Children, SEARCH Homeless Services, YesPrep, Western State University's Energy Management Advisory Board
Strategy 102-15 Key impacts, risks, and opportunities 2018 Annual Report Form 10-K, Item 1A. Risk Factors
Ethics and Integrity 102-17 Mechanisms for advice and concerns about ethics See Carrizo Code of Ethics and Business Conduct form on the Governance webpage, "Reporting of violations of this code" and "Compliance Procedures" located on page 3.
Governance 102-18 Governance structure https://www.carrizo.com/about/governance/default.aspx
102-19 Delegating authority Companies in our industry face a broad array of potential risks, including market, operational, strategic, legal, political, sustainability, and financial risks. The Board and its committees oversee and help mitigate these risks by ensuring we have structures and processes in place that are in the best interests of our stakeholders.
102-20 Executive-level responsibility for economic, environmental, and social topics Various members of our management team are responsible for overseeing economic, environmental, and social topics that impact our business and our stakeholders. While these members report to either our CEO or COO, they also have direct interaction with our Board of Directors on these matters when required.
102-22 Composition of the highest governance body and its committees 2019 Proxy
-Our Corporate Governance Practices
-Proposal One: Election of Directors
102-23 Chair of the highest governance body 2019 Proxy Leadership Structure
102-24 Nominating and selecting the highest governance body See Carrizo Nominating and Corporate Governance Committee Charter on Governance webpage.
See 2019 Proxy Proposal One: Election of Directors.
102-25 Conflicts of interest A. Carrizo discloses any conflict of interest in accordance with Item 407(e)(3)(iv) of Regulation S-K promulgated by the Securities and Exchange Commission's Rules and Regulations.
B. 2019 Proxy Proposal 1: Election of Directors discloses each member's cross-board membership.
C. See Carrizo Code of Ethics and Business Conduct form on the Governance webpage, "Honest and ethical conduct; conflicts of interest" located on page 1.
102-26 Role of highest governance body in setting purpose, values, and strategy The business, properties, and affairs of the organization are managed by the CEO under the direction of the Board of Directors. The Board and its committees oversee and help mitigate these risks by ensuring we have structures and processes in place that are in the best interests of our stakeholders.
102-28 Evaluating the highest governance body’s performance Carrizo's Governance Committee meets at least four times per year.
102-30 Effectiveness of risk management processes 2019 Proxy: The Board's Role in Risk Oversight
102-31 Review of economic, environmental, and social topics Carrizo's Board of Directors meet at least four times per year.
102-32 Highest governance body’s role in sustainability reporting Carrizo's Chief Financial Officer formally reviews and approves the company's sustainability report.
102-33 Communicating critical concerns A. 2019 Proxy Shareholder Communication with the Board of Directors
B. Sustainability webpage, see Stakeholder Engagement
102-34 Nature and total number of critical concerns 2018 Annual Report Form 10-K Item 3. Legal Proceedings
102-35 Remuneration policies 2019 Proxy
-Director Compensation
-Executive Compensation
102-36 Process for determining remuneration 2019 Proxy Executive Compensation
102-37 Stakeholders’ involvement in remuneration 2019 Proxy Proposal 2: Advisory Vote to Approve the Compensation of the Named Executive Officers
102-38 Annual total compensation ratio 2019 Proxy Chief Executive Officer Pay Ratio
Stakeholder Engagement 102-40 List of stakeholder groups Carrizo considers our stakeholders to include employees, shareholders, suppliers, customers, vendors, and local communities where we operate, among others.
102-43 Approach to stakeholder engagement Our management team and Board seek to be open with and available to our shareholders and other stakeholders. Developing and maintaining relationships with our stakeholders is fundamental to our business success. Stakeholders are encouraged to communicate with the company, whether it is in writing or through the many ways we interface with the community. Our CEO and management team regularly meet with stakeholders through various conferences and one-on-one meetings to discuss financial as well as technical topics and our Board members are accessible at our annual meeting.
Reporting Practice 102-45 Entities included in the consolidated financial statements See 2018 Annual Report Form 10-K: Exhibit 21.1 contains a list of our significant subsidiaries. The data in this report covers all of our subsidiaries.
102-48 Restatements of information There have been no restatements of information from previous sustainability reports.
102-49 Changes in reporting For the 2018 sustainability report, Carrizo partially adopted the GRI standards and has adjusted the layout and reporting to adhere to the reporting requirements.
102-50 Reporting period Fiscal year 2018
102-51 Date of most recent report The most recent previous report covered fiscal year 2016.
102-52 Reporting cycle Carrizo's sustainability report is normally issued on an annual basis.
102-53 Contact point for questions regarding the report For questions regarding this report, please contact Kim Pinyopusarerk by email at kim.pinyo@carrizo.com or by phone at 713-358-6430.
102-56 External assurance Material omissions to any General Standard disclosure or Specific Standard Disclosure are noted in the "Disclosure and/or location of disclosure" column. The information in this Report has not been externally confirmed.
GRI 200: Economic

Economic Performance 201-3 Defined benefit plan obligations and other retirement plans Carrizo offers a 401(k) savings plan in which employees can enroll and defer before- and/or after-tax contributions. The company matches 100% of the first 6% of employee contributions. Our 401(k) vendor also provides periodic educational sessions discussing various topics and tools to help our employees make the most of their retirement planning.
Market Presence 202-1 Ratios of standard entry level wage by gender compared to local minimum wage Not applicable. The majority of Carrizo employees are exempt employees and thus are not compensated in a manner that would be closely linked to laws or regulations on minimum wage.
202-2 Proportion of senior management hired from the local community
Percentage of Senior Management from Local Community
Area 2018
Eagle Ford 10%
Delaware Basin 5%
Corporate/Houston 40%
Anti-corruption Does the company have an anti-corruption policy/process/control in place? Many 'anti-corruption' guidelines are listed in Carrizo's Code of Conduct, Insider Trading Policy, Company Handbook, IT Acceptable Use Policy, Travel and Expense Policy, Whistleblower Hotline, and Audit, Governance, and Compensation Committee charters. They cover the following corrupt practices: bribery, fraud, fraudulent payments, extortion, collusion, money laundering, embezzlement, extravagant gifts, concealment, etc.
Does the anti-corruption policy apply to suppliers? Yes, Carrizo's MSAs require vendors and suppliers to abide by our Code of Conduct.
205-1 Operations assessed for risks related to corruption Per Carrizo's Audit Committee annual plan, internal and external audits are conducted in many areas of the Company for SOX compliance, suspicious activity, and vendor investigations.
205-2 Communication and training about anti-corruption policies and procedures Employees are given Carrizo policies at hiring and notified when policies have been updated. Committee charters are also available on the Carrizo website under the Governance webpage at https://www.carrizo.com/about/governance/default.aspx.
205-3 Confirmed incidents of corruption and actions taken None applicable/None to disclose
GRI 300: Environmental
Materials 301-1 Materials used by weight or volume In 2018, Carrizo used 45,366,000 barrels of water in its drilling and completion operations.
301-2 Recycled input materials used As of December 2018, up to 20% of the Company’s water demand in the Delaware Basin was met through the use of recycled water.
Energy 302-4 Reduction of energy consumption Carrizo does not have an official energy consumption reduction target. Instead, we focus our efforts on overall corporate energy savings through different projects such as reducing office footprint. In 2018, our corporate office began consolidating office space in order reduce the amount of utilized space and remove wasted space. In total, we were able reduce our physical footprint by 25%.
302-5 Reductions in energy requirements of products and services Not applicable as Carrizo provides a commodity product.
Water 303-1 Water withdrawal by source https://www.carrizo.com/sustainability/environmental-responsibility/
303-2 Water sources significantly affected by withdrawal of water https://www.carrizo.com/sustainability/environmental-responsibility/
303-3 Water recycled and reused As of December 2018, up to 20% of Carrizo's water demand in the Delaware Basin was met through the use of recycled water.
Biodiversity 304-1 Operational sites owned, leased, managed in, or adjacent to protected areas and areas of high biodiversity value outside protected areas Carrizo's operations are not located near heavily populated areas. When assessing potential drilling locations, we carefully look at geography and topography as well as the surrounding area’s biodiversity. We select areas that allow us to avoid or minimize impacts to the environment while also giving us the ability to drill multiple wells from the same pad, thereby reducing overall footprint and impact. If a protected habitat or species is identified, we take appropriate measures such as trying to relocate the site in order to protect that resource.
304-2 Significant impacts of activities, products, and services on biodiversity
304-3 Habitats protected or restored Our operations are largely focused in rural areas away from large communities, areas of high biodiversity, or protected or restored habitats.
304-4 IUCN Red List species and national conservation list species with habitats in areas affected by operators There are no IUCN Red List species located within the areas that Carrizo operates.
Emissions 305-1 Direct (Scope 1) GHG emissions See Total Reported Emissions table on https://www.carrizo.com/sustainability/environmental-responsibility/
305-2 Energy indirect (Scope 2) GHG emissions See Total Reported Emissions table on https://www.carrizo.com/sustainability/environmental-responsibility/
305-3 Other indirect (Scope 3) GHG emissions See Total Reported Emissions table on https://www.carrizo.com/sustainability/environmental-responsibility/
305-4 GHG emissions intensity
Emissions Intensity


Calculated as Tons of CO2e per MBOE Produced



2018 2017 2016
Emissions Intensity 36.04 36.69 41.87
305-5 Reduction of GHG emissions We seek to minimize our emissions by using energy-efficient equipment at our facilities. Examples of this include solar arrays to power meters at our production facilities and natural-gas-powered or lean-burning engines in our operations. We also use low-emission engines for a large number of compressors in each play.
305-6 Emissions of ozone-depleting substances (ODS) Emissions of ozone-depleting substances (ODS) are measured and reported through Greenhouse Gas submittals.
305-7 Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air emissions See Total Reported Emissions table on https://www.carrizo.com/sustainability/environmental-responsibility/
Effluents and Waste 306-1 Water discharge by quality and destination See Oil and Water Spill section on https://www.carrizo.com/sustainability/environmental-responsibility/
Does the company have a business waste recycling program? Our corporate office is an active participant in our building management’s business waste recycling program. Our employee kitchens are equipped with recycling receptacles for paper, aluminum, and plastic. We also strive to reduce toxic hazards from battery disposal by encouraging our employees to bring used batteries to the office for recycling.
306-3 Significant spills See Oil and Water Spill section on https://www.carrizo.com/sustainability/environmental-responsibility/
Does the company have a hazardous waste disposal program? See Hazardous Waste and Toxicity section on https://www.carrizo.com/sustainability/environmental-responsibility/
306-4 Transport of hazardous waste If a vessel or pipe with a reported NORM reading needs to be opened and cleaned out, our policy is to hire a third-party company licensed and trained for the handling and disposal of NORM. If an employee sees potential NORM, it is reported to our EH&S department, and a licensed third-party company would be dispatched to inspect and handle.
306-5 Water bodies affected by water discharges and/or runoff Carrizo does not operate in any areas near water bodies, related habitats, or biodiverse areas.
Environmental Compliance Does the company seek any kind of third party certification for any part of its health and safety processes/systems? No
307-1 Non-compliance with environmental laws and regulations None
Employment 401-1 New employee hires and employee turnover
Employee Turnover


2018 Employee Turnover Male Female Total
Number 39 12 51
Turnover Rate 24% 17% 22.00%
401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees Carrizo is proud to provide highly-competitive compensation and incentive plans that are aligned with shareholder return and based on industry practice for publicly-traded oil and gas companies to include base salary, short-term annual incentive bonus, stock-based long-term incentive plan, and discretionary holiday bonus. Additionally, we offer a variety of health and welfare benefits to employees and their eligible dependents that are very attractive and affordable to our employees. We offer comprehensive medical plans, prescription, dental, vision, group-term life insurance, voluntary life insurance, short-term disability, long-term disability, employee-assistance program, legal service plan(s), flexible spending and health savings plans, dependent care flexible spending plan, and 401(K) retirement plan with a generous company match.

Additionally, Carrizo offers several paid time off benefits such as: eleven (11) company-paid holidays, paid time-off benefits based on previous, relevant industry experience and incremental increases based on tenure with Carrizo. In addition to Family Medical Leave (FMLA) and Short-Term Disability, we also offer paternity leave and adoption leave. Only full-time employees are eligible to earn time-off benefits and medical/life/disability insurance benefits. Full-time employees must work a minimum of thirty hours per week to be eligible for Company-provided benefits.
401-3 Parental leave Carrizo has an Adoption and Paternity Leave Policy available in the Company's Policy and Program Handbook. Fathers are eligible for an additional five days of PTO to be used after the birth or adoption of a child. These days are in addition to the employee’s PTO entitlement and may be used consecutively or periodically during the first year of the birth or adoption of a child. Mothers are eligible for an additional five days of PTO to be used for the adoption of a child. These days are in addition to the employee’s PTO entitlement and may be used consecutively or periodically during the first year of the adoption of a child. In lieu of additional PTO for mothers in connection with the birth of a child, additional Company-paid benefits to the mother associated with the birth of a child while under a doctor's care are included under the Company’s Short-Term Disability Program.
Labor/Management Relations 402-1 Minimum notice periods regarding operational changes Carrizo abides by the WARN act, a statutory law requiring that a minimum notice period (60 days) will be effective in the case of significant layoff, sale resulting in no retention of staff, or operational/office shut-down for locations with over 100 employees.
Occupational Health and Safety 403-1 Workers representation in formal joint management-worker health and safety committees Carrizo has Safety Committees in both the Permian and Eagle Ford field operating areas whose membership consists of both management and workers. These committees meet on a monthly basis to discuss any significant EH&S incidents that may have recently occurred and develop recommendations on how to better perform the task associated with the incident more safely in the future. In early 2018, an Office Safety Committee was formed with members from both the field and corporate offices. The purpose of this committee is to explore ways to make our offices safer and address safety issues from a company-wide perspective. The Office Safety Committee requires each member to participate in at least 80% of the meetings on an annual basis.
403-2 Types of injury and rates of injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities
Total Recordable Incident Rate


Incidents per 200,000 work-hours



2018 2017 2016
Employees 0.42 0.85 0.00
403-3 Workers with high incidence or high risk of diseases related to their occupation Not applicable. Carrizo does not have any operations in countries with a high risk or incidence of communicable diseases.
403-4 Health and safety topics covered in formal agreements with trade unions Not applicable as Carrizo does not have any formal agreements with trade unions.
Training and Education 404-2 Programs for upgrading employee skills and transition assistance programs Sustainability webpage, see Workplace Responsibility http://www.carrizo.com/sustainability/workplace-responsibility/default.aspx
404-3 Percentage of employees receiving regular performance and career development reviews We are in the 3rd year of a formal performance management process. 100% of our employees participated in the performance management process for fiscal year 2018.
Percentage of Employees Receiving Performance and Career Development Review


2018 Employment Type Male Female Total
Full time employees 100% 100% 100%
Part time employees 0 0 0
Does the company have any internal policy/standard/control which addresses issues of workplace harassment, intimidation, freedom of speech, etc.? As an equal opportunity employer, Carrizo believes in an environment free of harassment. Carrizo's Policy and Program Handbook includes an Anti-Harassment Policy that addresses harassment.
Diversity and Equal Opportunity 405-1 Diversity of governance bodies and employees Carrizo disclosed data based on locations where the Company had operations as of December 31, 2017.
Board of Directors Gender Diversity


2018 Male Female
Total 88% 12%




Board of Director Age Diversity


2018 <30 years 30-50 years >50 years
Total 0% 0% 100%




Employee Gender Diversity


2018 Employment Type Male Female
Full time employees 72% 28%
Part time employees 0% 0%
Total employment 72% 28%




Employee Age Diversity


2018 Employee Age Diversity <30 years 30-50 years >50 years
Full time employees 7% 48% 32%
Part time employees 0% 0% 0%
405-2 Ratio of basic salary and remuneration of women to men Carrizo disclosed data based on locations where the Company had operations as of December 31, 2018.
Salary and Remuneration Ratio
Women to Men Pay Ratio 2018
Full time employees 61%
Part time employees n/a


Women to Men Pay Ratio 2018
Eagle Ford 67%
Delaware Basin 32%
Corporate/Houston 48%


Women to Men Pay Ratio 2018
Full time employees
Management 61%
Petrotech 89%
Technical Support 178%
Professional 89%
Administrative 104%
Field Operations (all male employees) 0%
Non-discrimination 406-1 Incidents of discrimination and corrective actions taken No incidents have been reported internally, through the Whistleblower Hoteline, or governmental agencies.
Child Labor 408-1 Operations and suppliers at significant risk for incidents of child labor Not Applicable. All Carrizo operations are in the US and are subject to federal labor laws that prohibit child labor.
Forced or Compulsory Labor 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor Not Applicable. All Carrizo operations are in the US and are subject to federal labor laws that prohibit forced or compulsory labor. Carrizo is also an at-will employer, meaning employees have not entered into a contract regarding the duration of their employment and are not subject to compulsory labor. This policy is addressed in Carrizo's Policy and Program Handbook.
Security Practices 410-1 Security personnel trained in human rights policies or procedures Not applicable. Carrizo does not employ security personnel.
Rights of Indigenous Peoples 411-1 Incidents of violations involving rights of indigenous people Not applicable. Carrizo does not operate in areas where there are indigenous people. However, general terms are covered in Carrizo's anti-harassment and workplace violence policies.
Local Communities 413-1 Operations with local community engagement, impact assessments, and development programs See Social Responsibility section on https://www.carrizo.com/sustainability/social-responsibility
413-2 Operations with significant actual and potential negative impacts on local communities None
Public Policy 415-1 Political contributions Carrizo's Political Contribution and Involvement policy states that the Company practices strict neutrality as it relates to the political process and intends to remain in compliance with all relevant campaign finance laws and other laws, rules, and regulations affecting the political process. As such, Carrizo does not make any monetary or other contributions, directly or indirectly, to any political party or affiliation.