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Stone Energy Corp (SGY.N)

SGY.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Talos Energy LLC to combine with Stone Energy Corp
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - Stone Energy Corp :Talos Energy LLC to combine with Stone Energy Corp .Stone Energy Corp - ‍at closing, Talos stakeholders will own 63 pct and Stone shareholders will own 37 pct of combined company​.Stone Energy Corp - boards of directors of co and ‍Talos Energy unanimously approved combination of Talos and Stone in an all-stock transaction​.Stone Energy Corp - ‍Talos, Stone will become wholly-owned subsidiaries of new holding company, which at closing of deal will become publicly traded entity​.Stone Energy Corp - ‍under terms of deal, each outstanding share of co's common stock will be exchanged for one share of Talos Energy, Inc. Common stock.Stone Energy Corp - ‍combined co will be named Talos Energy Inc, expected to trade on New York Stock Exchange under new ticker symbol TALO​.Stone Energy Corp - ‍Timothy S. Duncan, Talos's chief executive officer, will be chief executive officer of Talos Energy Inc​.Stone Energy Corp - as per terms of proposed deal, ‍Talos will have initial equity market capitalization of about $1.9 billion, enterprise value of about $2.5 billion​.Stone Energy Corp - combined co's board comprised of 10 members, including 6 members designated by Talos, 4 members designated by Stone from current board.Stone Energy Corp - ‍Neal P. Goldman will serve as non-executive chairman of board of directors of combined co​.  Full Article

Stone Energy Corp receives notice from Bank Of America
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Stone Energy Corp ::Stone Energy Corp - ‍on Nov 8, co received notice from Bank Of America that its borrowing base under credit agreement had been reduced to $100 million.Stone Energy Corp - ‍prior to November 8, 2017 redetermination, available borrowings under credit agreement were $150 million .  Full Article

Stone Energy Corp reports qtrly earnings per share $0.06
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Stone Energy Corp :Stone Energy Corp announces third quarter 2017 results.Stone Energy Corp - ‍production volumes averaged 19.2 thousand barrels of oil equivalent per day for three months ended september 30, 2017​.Stone Energy Corp - qtrly total oil, natural gas and ngls revenue $69.8 million ‍​.Stone Energy Corp - qtrly earnings per share $0.06‍​.  Full Article

Stone Energy Corp says bankruptcy court entered an order confirming reorganization plan
Wednesday, 15 Feb 2017 

Stone Energy Corp :On February 15, 2017, bankruptcy court entered an order, confirming reorganization plan -SEC filing.  Full Article

Stone Energy in talks to sell Appalachian assets to reduce debt
Tuesday, 23 Aug 2016 

Stone Energy Corp : In Talks To Sell Appalachian Assets To Reduce Debt - Sec filing .Stone energy says $150 million of net proceeds, in connection with sale of appalachia shall be no less than $350 million, to be paid to noteholders in cash.  Full Article

Stone Energy Q2 adjusted loss per share $7.45 excluding items
Tuesday, 2 Aug 2016 

Stone Energy Corp : Q2 adjusted loss per share $7.45 excluding items . Says production guidance for q3 of 2016 is estimated at 35 - 37 mboe per day . Says updated production guidance for fy 2016 is 33 - 35 mboe (198 - 210 mmcfe) per day . Q2 loss per share $35.05 .Says net daily production for q2 averaged 29.,000 barrels of oil equivalent (mboe) per day versus 34.5 mboe (207 mmcfe) per day.  Full Article

Stone Energy Corp says estimated production for quarter of about 29 mboe per day
Monday, 25 Jul 2016 

Stone Energy Corp : Expect production rates from Mary Field to reach over 125 mmcfe per day in August . Stone energy corporation provides production update . Estimated production for quarter ended june 30, 2016 of approximately 29 mboe (174 mmcfe) per day .Says updated guidance for remainder of 2016 will be provided in q2 earnings press release.  Full Article

Stone Energy amends credit agreement to increase borrowing base to $360.0 mln - SEC filing
Tuesday, 14 Jun 2016 

Stone Energy Corp : Entered into Amendment No. 3 to fourth amended and restated credit agreement dated as of June 24, 2014 . Amendment amends credit agreement to increase borrowing base to $360.0 million from $300 million - SEC filing . Repaid $56.8 million in borrowings under credit agreement . Following payment, company has cash on hand of about $185 million . Company continues to assess various strategic alternatives to address its liquidity and capital structure Source: (http://1.usa.gov/1S4tuEj ) Further company coverage: [SGY.N] (Bengaluru Newsroom: +1 646 223 8780).  Full Article

Stone Energy says confidentiality agreements with noteholders terminated without reaching agreement
Friday, 3 Jun 2016 

Stone Energy Corp : Stone energy corp says confidentiality agreements with noteholders terminated without reaching an agreement . Also discussing with certain vendors the terms of existing contracts in an attempt to renegotiate those contracts .Continues to analyze strategic alternatives including refinancing alternatives, asset sales and chapter 11 bankruptcy proceeding.  Full Article

Stone Energy Corp announces 1-for-10 reverse stock split
Wednesday, 1 Jun 2016 

Stone Energy Corporation : 1-For-10 reverse stock split will be effective after market closes on june 10, 2016 .Announces 1-For-10 reverse stock split.  Full Article

Offshore U.S. oil firms Talos, Stone Energy plan $2.5 bln merger

NEW YORK, Nov 21 Talos Energy LLC and Stone Energy Corp, two U.S. exploration and production companies focused on the Gulf of Mexico, announced on Tuesday plans to merge and create a new company valued around $2.5 billion including debt, sending Stone's shares down nearly 13 percent.