Carrizo Oil & Gas Inc. (NASDAQ: CRZO) opened a private offering of $250 million, in aggregate principal amount, of 7.5% senior notes due 2020, the company said Oct. 27.

Net proceeds will fund the $243 million acquisition of Eagle Ford properties from Eagle Ford Minerals LLC, and will support general corporate purposes, Carrizo said.

At closing, $93 million was paid. This came from revolving credit facility borrowings and it will be repaid by proceeds, Carrizo said. The remaining $150 million will be paid, by borrowings, on a deferred basis no later than Feb. 16, 2015.

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