2016 Press Releases
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12/05/16Stone Energy Corporation Announces Amethyst Operational Update
LAFAYETTE, La., Dec. 5, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) ("Stone") today announced an operational update on its Amethyst well. As previously reported, production from Stone's Amethyst well (the "Well") was shut in during late April 2016 to allow for a technical evaluation.  During the first week of November, we initiated acid stimulation work and intermittently flowed the Well during the month of November at a rate of 10 – 15 million cubic feet of gas per day, while o... 
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11/07/16Stone Energy Corporation Announces Third Quarter 2016 Results
LAFAYETTE, La., Nov. 7, 2016 Stone Energy Corporation (NYSE: SGY) today announced financial and operational results for the third quarter of 2016. Some items of note include: Production volumes exceeded the upper end of third quarter 2016 guidance Execution of a restructuring support agreement with noteholders Execution of a purchase and sale agreement for Appalachian assets Amethyst well stimulation initiated Financial Results Stone reported a third quarter of 2016 net loss ... 
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10/20/16STONE ENERGY CORPORATION Announces Entry into Comprehensive Restructuring Support Agreement With Senior Noteholders; Agrees to Sell Appalachia Assets to an affiliate of Tug Hill, Inc.
LAFAYETTE, La., Oct. 20, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced entry into a comprehensive restructuring support agreement and a purchase and sale agreement for its properties in the Appalachia basin. Restructuring Support Agreement As previously disclosed, Stone Energy Corporation ("Stone") has been involved in discussions with certain of its stakeholders in respect of a possible restructuring of the indebtedness and capitalization of Stone and certain o... 
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08/02/16Stone Energy Corporation Announces Second Quarter 2016 Results
LAFAYETTE, La., Aug. 2, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced financial and operational results for the second quarter of 2016. Some items of note include: Production volumes exceeded the upper end of second quarter 2016 guidance Bank credit agreement amendment included $360 million borrowing base and covenant relief through year end 2016 Termination of our long term deep water rig contract Mary field in Appalachia came back online in late June 2016... 
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07/25/16Stone Energy Corporation Provides Production Update
LAFAYETTE, La., July 25, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced estimated production for the quarter ended June 30, 2016 of approximately 29 MBoe (174 MMcfe) per day, consisting of approximately 59% oil, 9% natural gas liquids ("NGLs") and 32% natural gas.  This rate is slightly above the upper end of guidance for the quarter.  These production volumes included approximately 23 MBoe (138 MMcfe) per day from the Gulf of Mexico and 6 MBoe (36 MMcfe) per day from ... 
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06/29/16Stone Energy Corporation Announces Contract Agreements
LAFAYETTE, La., June 29, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced the termination of an existing long term deep water rig commitment and the execution of a new interim Appalachian midstream contract.  Stone and Ensco have agreed to terminate Stone's current contract with Ensco for total consideration of $20 million, approximately $5 million of which was a deposit previously provided to Ensco pursuant to the drilling services contract.  Further, Stone agreed t... 
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06/13/16Stone Energy Corporation Announces Completion of Reverse Stock Split
LAFAYETTE, La., June 13, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced that at the close of business on June 10, 2016, it effected a 1-for-10 reverse stock split. Every 10 shares of Stone's issued and outstanding common stock were automatically converted into one share of common stock. Stone's common stock will begin trading on a split-adjusted basis when the market opens on June 13, 2016. Pursuant to the reverse stock split, every 10 shares of Stone's issued and ... 
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06/01/16Stone Energy Corporation Announces 1-for-10 Reverse Stock Split
LAFAYETTE, La., June 1, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced that the Board of Directors of Stone has approved a 1-for-10 reverse split of its issued and outstanding shares of common stock.  The 1-for-10 reverse stock split will be effective upon the filing and effectiveness of a certificate of amendment to Stone's certificate of incorporation after the market closes on June 10, 2016, and Stone's common stock will begin trading on a split-adjusted basis when ... 
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05/20/16Stone Energy Corporation Announces NYSE Notice of Non-Compliance
LAFAYETTE, La., May 20, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced the receipt of formal notice of non-compliance with the New York Stock Exchange ("NYSE") market capitalization listing standard. On May 17, 2016, we were notified by the NYSE that our average global market capitalization has been less than $50 million over a consecutive 30 trading-day period at the same time that our stockholders' equity is less than $50 million, which is non-compliant with Section ... 
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05/19/16Stone Energy Corporation Announces the Rescission of BOEM Notice Letters
LAFAYETTE, La., May 19, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced the rescission of notice letters received from the Bureau of Ocean Energy Management ("BOEM"). As previously disclosed, in March of 2016, Stone received notice letters from BOEM stating that BOEM had determined that Stone no longer qualified for a supplemental bonding waiver under the financial criteria specified in BOEM's current guidance to lessees.  The notice letters required that Stone provide ... 
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05/04/16Stone Energy Corporation Announces First Quarter 2016 Results
LAFAYETTE, La., May 4, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced financial and operational results for the first quarter of 2016. Some of the highlights include: Production volumes exceeded the upper end of first quarter of 2016 guidance The four Cardona wells are currently producing gross volumes of approximately 20,000 Boe per day (65% working interest) Amethyst production averaged approximately 24 MMcfe per day (100% working interest) for the first qua... 
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04/19/16Stone Energy Corporation Names Independent Director as Special Liaison
LAFAYETTE, La., April 19, 2016 /PRNewswire/ -- In support of Stone's recent announcement of the retention of professionals to assist in analyzing and considering financial, transactional and strategic alternatives, the Independent Directors of Stone's Board of Directors recently named current board member David T. Lawrence as a Special Liaison of the Independent Directors to work together with the management of Stone to help with assessing strategic alternatives and restructuring alternatives fo... 
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04/14/16Stone Energy Corporation Provides Activity Update and Borrowing Base Redetermination
LAFAYETTE, La., April 14, 2016 /PRNewswire/ -- Stone Energy Corporation ("Stone") today announced an update on its first quarter operational activities and its borrowing base redetermination.  First quarter results are expected to be reported in early May 2016. Production for the first quarter of 2016 was approximately 34 MBoe (or 204 MMcfe) per day, above the first quarter production guidance of 32-33 MBoe per day provided by Stone in its earnings release for year-end 2015 results.  Gross vo... 
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03/10/16Stone Energy Corporation Provides Bank Borrowing Update
LAFAYETTE, La., March 10, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced that it has borrowed $385 million under Stone's Bank Credit Facility, which represents substantially all of the remaining undrawn amount that was available under the Credit Facility. These funds are intended to be used for general corporate purposes. As of March 10, 2016, following the funding of this borrowing, the aggregate principal amount of borrowings under the Credit Facility was $477 millio... 
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02/22/16Stone Energy Corporation Provides Fourth Quarter and Year-End 2015 Results and Reserves
LAFAYETTE, La., Feb. 22, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced financial and operational results for the fourth quarter and year-end of 2015. Some of the highlights include: Average daily production for the fourth quarter of 2015 was 24 MBoe per day, or 145 MMcfe per day, which was impacted by the shut-in of the Mary field in Appalachia for the entire quarter; average daily production for the year 2015 was 40 MBoe per day (238 MMcfe per day), which was wi... 
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02/19/16Stone Energy Corporation Schedules 2015 Fourth Quarter and Year End Earnings Release and Conference Call
LAFAYETTE, La., Feb. 19, 2016 /PRNewswire/ -- Stone Energy Corporation (NYSE:SGY) today announced it plans to report fourth quarter and year end 2015 earnings results on Monday, February 22, 2016, after the market close.  The release will provide year end reserves results, financial and operational results, and provide production and expense guidance for the first quarter and full year 2016.  The company has also scheduled a conference call on Tuesday, February 23, 2016 at 9:00 a.m. Central time... 
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