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. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...