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Stone Energy has emerged from bankruptcy.
Liquidity Update
Upon emergence from bankruptcy, the Company eliminated approximately $1.2 billion in principal amount of outstanding debt, resulting in remaining debt outstanding of approximately $236.3 million, consisting of $225.0 million of 7.50% senior second lien notes due 2022, and approximately $11.3 million outstanding under a building loan.
Board of Directors
A new board of directors was appointed. The new board of directors consists of seven members including Neal P. Goldman, John "Brad" Juneau, David Rainey, Charles M. Sledge, James M. Trimble, David N. Weinstein and David H. Welch.
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