Key Developments: Stone Energy Corp (SGY.N)
25.05USD
2 Aug 2013
$-0.19 (-0.75%)
$25.24
$24.95
$25.05
$24.95
10,841
166,630
$27.87
$17.38
Latest Key Developments (Source: Significant Developments)
Stone Energy Corp Issues Q2 2013 Production Guidance; Reaffirms FY 2013 Production Guidance
Stone Energy Corp announced that for the second quarter of 2013 is expected to be 38-40 MBoe (230-240 MMcfe) per day. FOr fiscal 2013, it expects production guidance of 40-43 MBoe (240-255 MMcfe) per day. Full Article
Stone Energy Corp Issues Q1 2013 Production Guidance; Lowers FY 2013 Production Guidance
Stone Energy Corp announced that for the first quarter of 2013 is expected to be 38-40 MBoe (230-240 MMcfe) per day. Updated production guidance for the full year 2013 is now 40-43 MBoe (240-255 MMcfe) per day with just over 50% projected as natural gas. Full Article
Stone Energy Corp Sees Q4 2012 Production At High End Of Prior Range; Reaffirms FY 2013 Production Guidance
Stone Energy Corp announced that the production guidance for the fourth quarter of 2012 of 42,500 - 45,000 Boe per day (255-270 Mmcfe per day) is confirmed towards the upper end of the range and production guidance for fiscal 2013 remains at 41,000 - 44,000 Boe per day (245-265 Mmcfe per day). Full Article
Stone Energy Corp Issues Q4 2012 Production Guidance; Narrows FY 2012 Production Guidance
Stone Energy Corp announced that for the fourth quarter of 2012, it expects production to be in the range of 255-270 MMcfe per day and fiscal 2012 production to be between 250-255 MMcfe per day. Full Article
Stone Energy Corp Issues Q3 2012 Production Guidance; Lowers High End Of Prior FY 2012 Production Guidance
Stone Energy Corp announced that it expects third quarter of 2012 production to be in the range of 245-260 MMcfe per day and fiscal 2012 production to be between 245-260 MMcfe per day. Full Article
Stone Energy Corp Announces Appointment Of David H. Welch As Chairman
Stone Energy Corp announced at its annual meeting of stockholders that the Stone Energy Board of Directors has appointed David H. Welch as Chairman of the Board, replacing Mr. Richard A. Pattarozzi. Mr. Welch will retain his position as Chief Executive Officer and President of Stone Energy. Mr. Pattarozzi will remain as the lead Director on the Board. Full Article
Stone Energy Corp Announces Definitive Agreement With Anadarko For Acquisition Of Pompano Field Working Interest
Stone Energy Corp announced the signing of a definitive agreement with Anadarko Petroleum Corporation, which provides for the acquisition by Stone of Anadarko's 25% working interest in the five block deep water Pompano field in Mississippi Canyon, a 22% working interest in Mississippi Canyon Block 29, and a 10% working interest in portions of MC 72. The purchase price under the agreement is $67 million in cash plus the assumption of asset retirement obligations, subject to customary closing adjustments. Current net production from the Pompano field attributable to this acquisition is approximately 1,000 barrels of oil per day and 3 million cubic feet of natural gas per day. Stone's estimate of proved reserves attributable to this acquisition is approximately 5.9 million barrels of oil equivalent at December 31, 2011. Stone's reserves estimate is based on Netherland Sewell & Associates year-end reserve estimate for Stone's portion of the Pompano field, proportionately reduced for the different working interest. The acquisition is subject to preferential rights (MC 29 and MC 72 only), due diligence, and other customary closing conditions, and is expected to close by late second quarter of 2012. Full Article
Stone Energy Corp Updates Q2 2012 Production Guidance; Narrows FY 2012 Production Guidance
Stone Energy Corp announced that it has updated its second quarter of 2012 and fiscal 2012 production guidance and now expects second quarter 2012 production to be in the range of 240-260 MMcfe per day and fiscal 2012 production to be between 245-270 MMcfe per day. Full Article
Stone Energy Corp Reaffirms FY 2012 Production Guidance-Conference Call
Stone Energy Corp announced that it expects 240 to 275 million cubic feet equivalents per day, which is about a 15% to 28% potential production growth. Full Article
Stone Energy Corp Announces Pricing of Private Offering Of $275 Million of Convertible Notes
Stone Energy Corp announced that it has priced its private offering of $275 million aggregate principal amount of Convertible Notes due 2017. The private offering was upsized from the previously announced $250 million aggregate principal amount of Convertible Notes. The Company granted an over-allotment option to the initial purchasers for up to an additional $25 million aggregate principal amount of Convertible Notes. The Convertible Notes will pay interest semiannually at a rate of 1.75% and will be convertible into cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock, at the Company's election, based on the applicable conversion rate at such time. The Company expects to close the offering on or about March 6, 2012. The Company intends to apply a portion of the net proceeds from the sale of the Convertible Notes and the proceeds from the warrant transactions to fund the cost of the convertible note hedge transactions entered into between the Company and the Option Counterparties. The Company expects to apply the remaining approximately $239 million of net proceeds for general corporate purposes, which may include providing longer term financing for the recently closed Pompano, Wideberth and Appalachian acquisitions and the repayment of outstanding borrowings under the Company's bank credit facility. Full Article

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