UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (date of earliest event reported): May 20, 2009
CARRIZO
OIL & GAS, INC.
(Exact
name of registrant as specified in its charter)
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Texas
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000-29187-87
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76-0415919
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(State
or other jurisdiction of
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(Commission
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(I.R.S.
Employer
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incorporation)
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File
Number)
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Identification
No.)
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1000
Louisiana Street
Suite
1500
Houston,
Texas
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77002
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(Address
of principal executive offices)
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(Zip
code)
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Registrant’s
telephone number, including area code: (713) 328-1000
Not
applicable
(Former
name or former address, if changed since last report.)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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[
]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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[
]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01 Entry
into a Material Definitive Agreement.
On
May 20, 2009, Carrizo Oil & Gas, Inc. (the “Company”) entered into
the Tenth Amendment (the “Tenth Amendment”) to the Credit Agreement dated as of
May 25, 2006 among the Company, certain subsidiaries of the Company,
the lenders party thereto and Guaranty Bank (“Guaranty Bank”), as administrative
agent (the “Credit Agreement”).
Pursuant
to the Tenth Amendment, Wells Fargo Bank, N.A. (“Wells Fargo”) replaced Guaranty
Bank as administrative agent and issuing bank under the Credit
Agreement. In connection with the Tenth Amendment, Guaranty Bank
reduced its individual commitment under the Credit Agreement by assigning to
Wells Fargo $50 million of its commitment.
The Tenth
Amendment also amended the Credit Agreement to, among other things,
(1) provide that the aggregate notional volume of oil and natural gas
subject to swap agreements may not exceed 80% of “forecasted production from
proved producing reserves,” as that term is defined in the Credit Agreement, for
any month, (2) remove a provision that limited the maximum duration of swap
agreements permitted under the Credit Agreement to five years, and
(3) provide that the aggregate notional amount under interest rate swap
agreements may not exceed the amount of borrowings then outstanding under the
Credit Agreement.
The
foregoing description of the Tenth Amendment is not complete and is qualified by
reference to the complete document, which is filed as an exhibit to this Current
Report and incorporated by reference herein.
Item
9.01 Financial Statements and Exhibits.
Exhibit Description
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
CARRIZO
OIL & GAS, INC.
By: /s/Paul F.
Boling
Name: Paul
F. Boling
Title: Vice
President and Chief Financial Officer
Date: May
27, 2009