Stone

Stone Energy Emerges From Bankruptcy, Exits Appalachia, Sticks With GOM

Stone Energy Corp. this week completed its reorganization and exited Chapter 11 bankruptcy proceedings, eliminating $1.2 billion of debt and exiting the Appalachian Basin with a $527 million asset sale to EQT Corp.

March 2, 2017

Consolidation Continues as EQT Grabs More Core Appalachia Acreage For $527M

EQT Corp. on Thursday followed through again with its intent to continue consolidating core acreage in Appalachia, this time announcing that it outbid two other producers during a bankruptcy auction for about 85,000 net acres from Stone Energy Corp.

February 9, 2017

Stone Energy Files For Bankruptcy

After months of negotiations with its creditors, Stone Energy Corp. has filed for Chapter 11 bankruptcy protection to wipe out $1.2 billion of debt through a pre-packaged restructuring plan that would turn the company over to its noteholders if approved.

December 16, 2016

Stone Energy’s 2Q Production Boosted by Appalachian Volumes

Stone Energy Corp. expects to report second quarter production near the high end of its guidance for the period, estimating that it produced 174 MMcfe/d for what would be a better-than-expected finish on incremental production from the Appalachian Basin that came back online in June.

July 26, 2016
Stone Energy Ends Appalachian Curtailments With New Midstream Contract

Stone Energy Ends Appalachian Curtailments With New Midstream Contract

Nearly a year after it shut in its largest field in the Appalachian Basin, Stone Energy Corp. has signed an interim gathering and processing agreement with Williams to begin steadily ramping up its gas flows and end the curtailments by August, Stone said Wednesday.

July 1, 2016
Stone Energy’s Borrowing Base Cut; Default A Possibility

Stone Energy’s Borrowing Base Cut; Default A Possibility

Stone Energy Corp.’s credit facility has been reduced from $500 million to $300 million, resulting in a borrowing base deficiency of $175.3 million, which could lead to a breach of its lending agreement and default, the company said.

April 18, 2016
Stone Energy’s Borrowing Base Cut; Default A Possibility

Stone Energy’s Borrowing Base Cut; Default A Possibility

Stone Energy Corp.’s credit facility has been reduced from $500 million to $300 million, resulting in a borrowing base deficiency of $175.3 million, which could lead to a breach of its lending agreement and default, the company said.

April 18, 2016

Stone Energy Turns Away From Appalachia, Exploring Alternatives as Debt Mounts

Stone Energy Corp. said this month that it has borrowed another $385 million to cover general costs, maxing out its $500 million borrowing base and pushing its debt to $1.1 billion, which the company warned could lead to a default on its credit facility.

March 15, 2016

Brief — Stone Energy

Stone Energy Corp. said in its year-end earnings report that it would continue to shut in natural gas production from the Mary Field in West Virginia throughout 2016. The 39,200-acre field is the company’s largest in the Appalachian Basin. Low commodity prices and negative differentials forced it to shut in the assets last September and curtail 100-110 MMcfe/d of Marcellus Shale production (see Shale Daily,Sept. 25, 2015). This year’s $200 million budget would mostly go toward the company’s deepwater Gulf of Mexico assets and maintaining core leasehold interests and maintenance in Appalachia.

February 23, 2016

Stone Energy Curtails Nearly All Appalachian Production on Low Prices

Stone Energy Corp. has shut-in its largest field in the Appalachian Basin, curtailing between 100 and 110 MMcfe/d of Marcellus Shale production to offset low commodity prices and negative differentials that had reached “unacceptable levels,” the company said.

September 25, 2015
‹ Previous 1 2 3