8-K

                       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): July 30, 2003

                             CARRIZO OIL & GAS, INC.
             (Exact name of registrant as specified in its charter)


            TEXAS                       000-22915              76-0415919
(State or other jurisdiction of        (Commission          (I.R.S. Employer
        incorporation)                 File Number)        Identification No.)


         14701 ST. MARY'S LANE
               SUITE 800
             HOUSTON, TEXAS                                      77079
(Address of principal executive offices)                       (Zip code)




       Registrant's telephone number, including area code: (281) 496-1352


ITEM 5.  FINANCIAL STATEMENTS AND EXHIBITS.

         (c)  Exhibits

              The following exhibit is furnished pursuant to Item 12:

              99.1 Press Release, dated July 30, 2003, Announcing Second Quarter
                   2003 Production

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL
         CONDITION.

         The press release attached hereto as Exhibit 99.1 announces production,
prices and other operational results for the second quarter of 2003.

         None of the information furnished in Item 12 and the accompanying
exhibit will be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, not will it be incorporated by reference into any
registration statement filed by Carrizo Oil & Gas under the Securities Act of
1933, as amended, unless specifically identified therein as being incorporated
therein by reference. The furnishing of the information in this report is not
intended to, and does not, constitute a determination or admission by Carrizo
Oil & Gas, that the information in this report is material or complete, or that
investors should consider this information before making an investment decision
with respect to any security of Carrizo Oil & Gas.


                                       2

                                   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/ S. P. Johnson IV
                                       -----------------------------------------
                                    Name:  S.P. Johnson IV
                                    Title: President and Chief Executive Officer

Date:  August 5, 2003


                                       3

                                  EXHIBIT INDEX


Exhibit
Number          Description
- -------         -----------
 99.1           Press Release, dated July 30, 2003, Announcing Second Quarter
                2003 Production


                                       4

EX-99.1

                                                                    EXHIBIT 99.1


PRESS RELEASE                             CONTACT: CARRIZO OIL & GAS, INC.
                                                   B. ALLEN CONNELL, DIRECTOR OF
                                                   INVESTOR RELATIONS
                                                   (281) 496-1352

CARRIZO OIL & GAS, INC. ANNOUNCES SECOND QUARTER PRODUCTION AND ESTIMATES
CURRENT DAILY PRODUCTION OF 22 MMCFE

HOUSTON, JULY 30, 2003 - CARRIZO OIL & GAS, INC. (NASDAQ: CRZO) today announced
the operating results for the second quarter of 2003. In the Company's core
areas in South Texas and Louisiana, the Company participated in the drilling of
12 gross exploratory wells, all of which were successful, resulting in a 100
percent apparent success rate for the quarter. Nine of these successful wells
have been completed, two wells are in the process of being completed and a third
well is currently under evaluation for possible sidetrack. Drilling operations
were underway on four additional wells at the end of the quarter. Since the
beginning of the year, Carrizo has now drilled 16 wells, 14 of which have been
successful.

Production during the second quarter of 2003 was estimated to be 1.66 Bcfe, or
12 percent below the 1.88 Bcfe production in the second quarter of 2002. The
second quarter 2003 production decrease was largely due to mechanical
difficulties on the Delta Farms #1 and production delays on both the Pauline
Huebner #2 due to testing and the Hankamer #1 due to delays in acquiring the
pipeline right-of-way. All these matters have been resolved, and the estimated
daily production has been 22 MMcfe per day since early July (excluding Carrizo's
share of production from the Bobcat wells, approximately 400 Mcfed, contributed
in its investment in Pinnacle Gas Resources, Inc. in June 2003) as compared to
18.2 MMcfe per day averaged in the second quarter of 2003.

Production during the first half of 2003 was estimated at 3.6 Bcfe, or 9 percent
above the 3.3 Bcfe of production in the first half of 2002.

Natural gas comprised 59 percent of second quarter 2003 production. The Company
estimates that second quarter 2003 sales prices averaged approximately $5.47 per
Mcf and $26.33 per barrel. These prices include the effects of hedging
activities, which resulted in a reduction of the realized price of natural gas
sold by $0.28 per Mcf and the realized price of oil sold by $1.74 per barrel.
The oil sales price reflects the large volume of condensate production relative
to total oil production.

Operating highlights during the second quarter of 2003 included the following:

o    The "Beachhouse #1" well in Chambers County, Texas reached total depth on
     June 25, 2003 and logged approximately 67 feet of apparent net pay in the
     lower Vicksburg section at approximately 11,500 feet. The well is expected
     to be completed and turned online in mid to late August. The Company is
     operator and owns a 28.8 percent working interest in the well.

o    The "Espree #1" well in Liberty County, Texas reached total depth on May
     22, 2003 and logged pay in multiple zones. The Company is operator and owns
     a 46.3 percent working interest. The Espree #1 commenced production on June
     27, 2003 at a rate of approximately 5,500 Mcf and 160 barrels of condensate
     (6,460 Mcfe) per day.


o    The "Pauline Huebner A-382 #3" well ("Huebner #3)" in the Company's
     Providence Field in Matagorda County, Texas, reached total depth on April
     20, 2003 and logged approximately 54 feet of apparent net pay in two
     potential pay intervals. Carrizo operates the wells and owns a 39.75
     percent working interest. The lower interval averaged 2,500 Mcfe per day
     for the first month of production but began producing high water rates. The
     lower zone has been shut-in and the upper zone is now producing at a rate
     of approximately 400 barrels of oil and 1,000 Mcf (3,400 Mcfe) per day. The
     lower zone is expected to be returned to production at a later date.

o    The Delta Farms #1 well (Carrizo's working interest is 40 percent) began
     producing sand and was curtailed to a rate of 4,200 Mcfed. A successful
     workover completed in June resulted in the rate being increased to 8,200
     Mcfe per day. The well was off production for 27 days during the workover
     operations.

"Our recent drilling success has been outstanding as evidenced by two more
successful Huebner wells in Matagorda County, the Espree well in Liberty County
and the Beachhouse well in Chambers County", commented S.P. Johnson IV,
Carrizo's President and Chief Executive Officer. The quarterly drop in
production was due to extended testing of three new wells to better quantify
reserve potential in every pay zone, pipeline delays at the Hankamer well in
April and the workover on the Delta Farms #1. This workover was particularly
rewarding since pressure data indicates that we found additional reserves in the
same zone during the workover.

"We expect to post excellent third quarter production volumes based on the high
current rate of 22 MMcfed combined with additions planned from the Beachhouse
completion and a proposed recompletion on the Huebner #2. By dually completing
the Huebner #2 we can add one of the remaining two uncompleted zones to the
current 3,000 Mcfe per day interval. Four additional wells are currently
drilling; two deep Wilcox wells in South Texas (15.5 percent and 38.5 percent
working interest) and two deep high impact wells in South Louisiana (20 percent
and 35.5 percent working interest)."

Carrizo Oil & Gas, Inc., is a Houston-based energy company engaged in the
exploration, development, exploitation and production of oil and natural gas in
proven onshore trends primarily along the Texas and Louisiana Gulf Coast
regions. Carrizo controls significant prospective acreage blocks and utilizes
advanced 3-D seismic techniques to identify potential oil and gas reserves and
drilling opportunities.

Statements in this news release, including but not limited to those relating to
the Company's or management's intentions, beliefs, expectations, hopes,
projections, assessment of risks, estimations, plans or predictions for the
future including potential effects or timing, timing of completion of the
Beachhouse #1 well, the return to production of the lower zone of the Huebner #3
well, projections of third quarter production volumes and other statements that
are not historical facts are forward looking statements that are based on
current expectations. Although the Company believes that its expectations are
based on reasonable assumptions, it can give no assurance that these
expectations will prove correct. Important factors that could cause actual
results to differ materially from those in the forward looking statements
include the results and dependence on exploratory drilling activities, operating
risks, oil and gas price levels, land issues, availability of equipment, weather
and other risks described in the Company's Form 10-K for the year ended December
31, 2002 and its other filings with the Securities and Exchange Commission.