Paul F. Boling retired as the vice president, CFO, secretary and treasurer of Carrizo Oil & Gas Inc. (NASDAQ: CRZO), the company said Aug. 12. His retirement became effective Aug. 11, the company added.

David L. Pitts, the current vice president and chief accounting officer, was appointed as CFO and treasurer, the company said. Pitts will retain his current positions, while Boling will remain with the company as a consultant during the transition, the company added.

"Paul has been with Carrizo for over 11 years. In that time, he has contributed significantly to the growth of the company, from one with a market cap of less than $80 million to one with a market cap of more than $2.7 billion today. Paul's accomplishments and integral contribution to the company's success are too numerous to mention, but included raising over $2.5 billion in senior notes, borrowing base and equity during his tenure. Carrizo is grateful that he will stay on to assist in the transition," said S. P. “Chip” Johnson IV, president and CEO.

"David has been with Carrizo since 2010 and has been a key part of the company's senior financial leadership. We have every confidence in David and expect the transition to be seamless," he added about Pitts.

Houston-based Carrizo Oil & Gas Inc. develops and produces domestic oil and natural gas.