Stone Energy’s borrowing base reaffirmed at $500 million

Stone Energy Corp.’s (NYSE: SGY) borrowing base under its bank credit facility was reaffirmed at $500 million following its lenders' scheduled semi-annual redetermination process. There were no other changes to the terms of the credit facility resulting from this borrowing base redetermination. 

As of Oct. 13, the credit facility was substantially undrawn with only $19.2 million in letters of credit outstanding.

Stone Energy is engaged in the acquisition, exploration, development, and production of properties in the Gulf of Mexico and Appalachian basins. 

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