Stone Energy Corporation (SGY)

[PinkBu]

Keep an eye on this... will be a good one to get into come Dec.:

http://www.wsj.com/articles/key-energy-files-for-chapter-11-after-striking-restructuring-deal-1477317707

“The agreement with our note holders will provide value to all of our stockholders, improves our liquidity and better positions us to be profitable during a historically difficult time in our industry.

“Importantly, this agreement will allow all stakeholders to share in potential valuation growth if commodity prices improve.”

[swamp-rat]

(The Daily Advertiser) – Stone Energy has announced steps toward filing for Chapter 11 bankruptcy protection by Dec. 9, the company said in an issued statement.

Spokeswoman Jennifer E. Mercer said Friday that Stone, burdened with some $850 million in debt during a lingering downturn in energy prices, will sell its holdings in Appalachia for $350 million and has made agreements with senior bondholders, creditors and others to restructure operations.

“The company will continue to work,” Mercer said. “Stone is open for business and operating. People are showing up and working and getting paid; customers are being served. This will have no impact on day-to-day business.”

Mercer said the company has developed a pre-packaged reorganization plan, which should help Stone navigate Chapter 11 proceedings and “come out on the other side,” perhaps as early as mid-2017.

“The execution of the RSA is the culmination of months of hard work to right-size our balance sheet in response to a sustained period of low oil and natural gas commodity prices,” Dave Welch, Stone’s chairman, president and CEO said in an issued statement late Thursday. “The agreement with our note holders will provide value to all of our stockholders, improves our liquidity and better positions us to be profitable during a historically difficult time in our industry.

“Importantly, this agreement will allow all stakeholders to share in potential valuation growth if commodity prices improve.”

Stone is an independent oil and gas exploration and production company. Though headquartered in Lafayette, it has additional offices in New Orleans, Houston and Morgantown, West Virginia.

The company’s strategy, as revealed on its web site, has been to grow oil reserves in deepwater Gulf of Mexico and onshore oil; grow gas reserves in Appalachia and the Gulf of Mexico basin; and maintain stable Gulf of Mexico shelf oil production.

Like other exploration and production companies, Stone has suffered since oil prices plunged from over $100 a barrel in mid-2014 to as low as $26 a barrel in February.

By late Friday morning, Stone’s stock prices had slipped 30 percent to $6.74.

[swamp-rat]

Stone Energy to file for bankruptcy
12:06 pm
Stone Energy has announced steps toward filing for Chapter 11 bankruptcy protection by Dec. 9, the company said in an issued statement.

They have headquarter in Lafayette La.
go to KLFY.com

[Yo-Yo]

Nope not yet, still waiting after their news pr to see what the market or day traders think

[John_Langston]

Did you get filled?

[Yo-Yo]

Well you sure did SGY!!! Wow!!!

[Yo-Yo]

Come on a little bit more SGY!!!

[Yo-Yo]

Come on down a bit more SGY!!!

[stocktrademan]

SGY bullish 12.75

cmf crossup scan

[legalizeMJ]

SGY vs BAS(Oil industry comparisons)

1)SGY and BAS are in the oil&gas industry
2)SGY= $13.27 per share
3)BAS = $0.56 per share.

Oil is UP and SGY and BAS go UP with it.
4)BAS has good news. Here's the link:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11583330

5)BAS has more UPSIDE potentials because its pps is the smallest, ONLY $0.56 per share.

[stocktrademan]

I checked out that chart and found that the easy money has already been made on AREX and buying now would be chasing. It just made a topping tail candlestick.

If someone was interested in AREX as well as SGY, one could camp out in SGY for a little while until AREX provides a dip to buy...just a thought...no need to say one is 'better' than the other...they both can be profitable but this board is about SGY as well...

[legalizeMJ]

SGY vs AREX(Oil industry comparisons)

1)SGY and AREX are oil and gas stocks.

2)As of 9/2/16,
SGY= $11.10 per share,
AREX= $3.56 per share.

4)AREX has MORE upside potentials because its pps is the smallest, ONY $3.56 per share.


About AREX:
AREX properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin. As of December 31, 2015, it had estimated proved reserves of approximately 166.6 million barrels of oil equivalent in Crockett and Schleicher counties, Texas; and owned and operated 803 producing oil and gas wells in the Permian Basin. Approach Resources, Inc. was incorporated in 2002 and is headquartered in Fort Worth, Texas.

[stocktrademan]

SGY bullish 11.36

inverted head and shoudlers bottom

[RISK-TAKER]

I like how the writer picks certain parts of the latest 8k and write what they want for their own benefit and profit..See it all the time..and see it backfire a lot...
Good luck..

[56Chevy]

Stone Energy Negotiates Sale Of Marcellus In Restructuring Bid

2016/08/26

Stone Energy (NYSE: SGY) is talking to potential buyers for its Marcellus assets as it attempts to back into a possible bankruptcy filling with a restructuring agreement in place among its creditors.

The Layfette, La.-based company plans to sell its Appalachian assets to an unrelated third party for a net price of $350 million, according to Securities and Exchange Commission filings. Previous market tests indicated that Stone Energy’s assets could fetch a sales price ranging from $250 million to $400 million, depending on commodity prices.

Under the company’s plan, $150 million from the net proceeds—about 43%—would be paid to noteholders. The remaining money would be used to pay bank debt and to fund working capital needs. If the Appalachia assets sell for more than $350 million, noteholders would receive 60% of the proceeds.

<to continue reading>

http://www.oilandgasinvestor.com/stone-energy-negotiates-sale-marcellus-restructuring-bid-1348076

Marker:
Stone Energy Corp. (SGY)
$11.37 up 0.28 (2.52%)
Volume: 1,062,448

*rut roh....

[dude iligence]

SGY $11.47 coudn't breakout so breakdown. RS which took the float to 4 mil at the same time they increased the AS to 300mil. Convertible debt/dilution Major Dilution is in SGY's future.

[dude iligence]

SGY $12.2s setting up to breakout above the 50ma $12.44

[ClearlyStocks]

$12.34

[ClearlyStocks]

SGY $11.70 looks like she wants to run into close.

[ClearlyStocks]

$12.23*

[ClearlyStocks]

$12.34

[ClearlyStocks]

$12.10

[ClearlyStocks]

$11.79

[ClearlyStocks]

$11.30 here she goes again

[jones99]

SGY is a stock to look at but not interested as energy stocks running up on no news can run higher as they're affected by rising oil prices

[Yo-Yo]

Nice day SGY!!! How high ya gonna fly this time ?

[ClearlyStocks]

$10.90 NEW HIGHS

[ClearlyStocks]

$10.50 break and SAEX part 2 possible

[ClearlyStocks]

Flying from $9

[ClearlyStocks]

Looks like she's about to go $11+

[Lehrjet]

Good job now might be a good time to cover

[JimBobWalnut]

Hope you're still short on this one.

[Yo-Yo]

Will she hold the 13's or break back through 12.5 SGY

[dude iligence]

$11-12 as predicted up $10 per share on the current short. 10 to 1 RS at the same time an increase of the AS to a WHOPPING 300 mil can be for only 1 reason. DILUTION. SGY MGT making bagholders of all the shareholders that bought as high as $25.5 a mere 9 days ago. MGT is rooting tooting diluting brand spanking new shares as fast as they can get them off the printing press. YEE HAW!

[crudeoil24]

NEWS: http://ih.advfn.com/p.php?pid=nmona&article=72045930

[Yo-Yo]

Looking like $12.50 is gonna break, wonder if $10 then $8 are in the near future here at SGY,

[JimBobWalnut]

That's great. I was in @ 9.64 and sold @ 24.49. Still out. Not shorting.

[dude iligence]

re shorted 2 days ago when it couldnt get above 21 now sittiing st 17.5s. fall below current levels could see $11-12 pretty quick. AS increased to 300 mil means mgt is all about dumping shares on shareholders making them bagholders. just ask the fools that bought above 21 how they are feeling right now at 17. they are going to love 12 lol

[dude iligence]

gap closed short covered $6 per share gain. do it again on next pop, 10 to 1 rs with AS increase to 300 mil. Dilultion is the name

[JimBobWalnut]

Looks like she took a breather today.

[JimBobWalnut]

Looks like you got in at a good time. Keep up the great work.

[dude iligence]

Yesterday covered when it went above $21, no gain. Re shorted at the open when it spiked above $24. 300mil AS, lot of selling this morning kinda looks like shares being dumped. I don't trust the Morons running this company. Give one good reason to increase the AS to 300mil. I can think of only one reason and its not good for shareholders. DILUTION





Time to go close that big ole narly gap up $17.5-$19.5 approx

[Yo-Yo]

This ticker could be HULK, it's a big, green money monster, congrats to all, wonder if $30 can be touched tomorrow ?

[UP Trend]

Amazing run! Congrats!

[ClearlyStocks]

$25 Wowzers

[JimBobWalnut]

Sure hope you covered that short by now. It think she's just getting started.

[dude iligence]

Big ole Narly gap $19.5 up this morning. Who bought this for $21 after closing at $17.76 yesterday. From .27 to $2.17 in about 6 weeks this has been an amazing run. Can it make it to the 200ma at $30/$3 pre-rs? Stop limit is in place, time to go do some yard work

[dude iligence]

I shorted it this morn on the pop over $21 I been playing both long and short. The float is so small since the rs, makes for big swings. 300 mil AS is a dark cloud. If it looks like dilution, smells like and tastes like dilution, its dilution. When that happens will knock this on its azz. Run it as high as possible first then dump some shares.

[JimBobWalnut]

Surely not.

[crudeoil24]

You still shorting? ...

Short covered just over $2 move. Low float SGY rebound with crude/NG move this morn, but for how long? AS increased to 300mil is ominous sign of things to come. List one good reason to increase the AS to 300mil. Bet you can't