Stone Energy (SGY) Closes One-for-Ten Reverse Stock Split

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Stone Energy (SGY) Borrowing Base Increased to $360M from $300M

June 15, 2016 7:26 AM EDT

Stone Energy (NYSE: SGY) adds to Tuesday gains after the company entered into Amendment No. 3 to the Fourth Amended and Restated Credit Agreement dated as of June 24, 2014 among the Company, certain of the Companys subsidiaries, as guarantors, and the financial institutions party thereto. The Amendment, among other things, amends the Credit Agreement to increase the borrowing base to $360.0 million from $300 million.

From the filing:

On June 14, 2016, Stone Energy Corporation (the Company) entered... More

S&P Upgrades Stone Energy (SGY) to 'CCC-'; Outlook Negative

June 14, 2016 3:17 PM EDT

S&P Global Ratings said it raised its corporate credit rating on oil and gas exploration and production company Stone Energy Corp. (NYSE: SGY) to 'CCC-' from 'D'. The outlook is negative.

We also raised the issue-level rating on the company's senior unsecured debt to 'CCC-' from 'D'. The recovery rating is '3', indicating our expectation of meaningful... More

Stone Energy (SGY) Gains After Saying it Will Make Interest Payment

June 14, 2016 10:36 AM EDT

Stone Energy (NYSE: SGY) is gaining early following a disclosure that it intends to make the Interest Payment on June 14, 2016 and, as a result, will be in compliance with its obligations under the indenture. In addition, on June 13, 2016, the Company made the second borrowing base deficiency payment of approximately $29.2 million pursuant to the terms of that certain Fourth Amended and Restated Credit Agreement, dated as of June 24,... More