Carrizo Oil & Gas Inc. (NASDAQ: CRZO) has entered a definitive agreement to sell its wholly owned subsidiary, Carrizo UK Huntington Ltd., and all of its interest in the Huntington Field located in the UK North Sea to a subsidiary of Iona Energy Inc. (TSXV: INA) for a cash consideration of $184 million.

Carrizo expects to net approximately $116 million, after payment of approximately $70 million to retire and close its UK credit facility, working capital adjustments, and transaction related costs. This transaction is expected to close on or before ...