Item 1.01 Entry into a Material Definitive Agreement.
On July 7, 2008, Carrizo Oil & Gas, Inc. (the “Company”) entered into the Sixth Amendment (the “Sixth Amendment”) to the Credit Agreement dated as of May 25, 2006 among the Company, certain subsidiaries of the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, as previously amended by the First Amendment dated December 19, 2006, the Second Amendment dated September 11, 2007, the Third Amendment dated December 20, 2007, the Fourth Amendment dated May 20, 2008 and the Fifth Amendment dated June 11, 2008 (the “Credit Agreement”).
Pursuant to the Sixth Amendment, the Credit Agreement has been amended to, among other things, to increase the maximum duration of swap agreements permitted under the Credit Agreement from four years to five years.
On June 11, 2008, the Company previously entered into the Fifth Amendment to the Credit Agreement (the “Fifth Amendment”). Pursuant to the Fifth Amendment, the Borrowing Base (as such term is defined in the Credit Agreement) was increased to $165 million, and the Conforming Borrowing Base (as such term is defined in the Credit Agreement) was increased to $140 million.
The foregoing descriptions of the Fifth Amendment and Sixth Amendment are not complete and are qualified by reference to the complete documents, which are attached hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
