According to Carrizo 2015 Annual Report "We seek to provide additional stability and cash flow visibility by employing an active hedging strategy." What is the market within which Carrizo believes that they compete? What may transform Carrizo's market place? Who does Carrizo or other sources state are the competitors that Carrizo must contend with? Select the single best answer from those available below.

Group of answer choices

Carrizo believes the market direction for an oil price recovery decline is already in motion. Carrizo believes that the oil and gas industry is characterized by rapid and significant technological advancements and introductions of new products and services using new technologies that may make one or more of its current technologies now or in the future obsolete and operations materially adversely affected. Carrizo or other sources identify Triana Energy, Gulfport Energy Corporation, Jones Energy, Inc W&T Offshore, Inc, Abraxas Perroleum Corporation, Delta Petroleum Corporation, Cimarex Energy Co. as competitors.

Carrizo believes the market direction for an oil price recovery is already in motion. Carrizo believes if they are able to use the most advanced commercially available technology, their business, financial condition and results of operations could be materially adversely affected. Carrizo or other sources identify Triana Energy, Gulfport Energy Corporation, Jones Energy, Inc W&T Offshore, Inc, Abraxas Perroleum Corporation, Delta Petroleum Corporation, Cimarex Energy Co. as competitors.

Carrizo competes within in the production of oil and gas market from resource plays located in the United States. Carrizo believes if they are unable to use the most advanced commercially available technology, their business, financial condition and results of operations could be materially adversely affected. Carrizo or other sources identify Shell Global Corporation, ExxonMobil, Chevron Corporation, Shell USA Corporation, and BP as competitors.

Carrizo competes within the exploration, development, and production of oil and gas market from resource plays located in the United States. Carrizo believes if they are unable to use the most advanced commercially available technology, their business, financial condition and results of operations could be materially adversely affected. Carrizo or other sources identify Shell Global Corporation, ExxonMobil, Chevron Corporation, Shell USA Corporation, and BP as competitors.

Carrizo competes within the exploration, development, and production of oil and gas market from resource plays located in the United States. Carrizo believes that the oil and gas industry is characterized by rapid and significant technological advancements and introductions of new products and services using new technologies that may make one or more of its current technologies now or in the future obsolete and operations materially adversely affected. Carrizo or other sources identify Triana Energy, Gulfport Energy Corporation, Jones Energy, Inc W&T Offshore, Inc, Abraxas Perroleum Corporation, Delta Petroleum Corporation, Cimarex Energy Co. as competitors.

Carrizo's believes that with the domestic crude oil rig count down more than 40% from its late 2014 peak and with global oil demand projected to grow at a pace of approximately 1 MMBbls/d per year. Carrizo believes that the oil and gas industry is characterized by rapid and significant technological advancements and introductions of new products and services using new technologies that may make one or more of its current technologies now or in the future obsolete and operations materially adversely affected. Carrizo or other sources identify Shell Global Corporation, ExxonMobil, Chevron Corporation, Shell USA Corporation, and BP as competitors.