Carrizo Prices Public Offering of Common Stock

Carrizo Oil & Gas has priced an underwritten public offering of 2,250,000 shares of its common stock (or 8% of total shares outstanding) under an effective shelf registration statement at a price to the public of $54.50 per share. The underwriters will have an option to purchase up to an additional 337,500 shares from Carrizo to cover any over-allotments.

Carrizo intends to use the proceeds from the offering primarily to partially fund its leasing and drilling program, including accelerating its Barnett Shale leasing and drilling activities in southeast Tarrant County. Pending such use, Carrizo intends to use a portion of the net proceeds to repay the outstanding principal amount under its revolving credit facility.

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