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Started By
Message
Stone Energy Delcares Chapter 11 Bankruptcy
Posted on 10/21/16 at 12:37 pm
Posted on 10/21/16 at 12:37 pm
quote:
Stone Energy Corporation has confirmed months of speculation and formally announced entry into a comprehensive restructuring support agreement that "contemplates" filing for Chapter 11 bankruptcy.
In a release posted on its website Thursday, the company (NYSE: SGY) confirmed that it has been discussing restructuring with its stakeholders for some time. The agreement was signed today, the release states, which calls for the restructuring of terms of a pre-packaged plan of the company and the filing of Chapter 11, as well as the sale of the company's Appalacian holdings.
LINK
6
Posted on 10/21/16 at 12:38 pm to ragincajun03
Well, good for them.
Posted on 10/21/16 at 12:39 pm to ragincajun03
Explain why this is OT worthy and not Money Board.
Posted on 10/21/16 at 12:39 pm to ragincajun03
I'm thinking of going long on winter wheat. What do you think, Valentine?
Posted on 10/21/16 at 12:40 pm to ragincajun03
Isnt their golf tournament today, per the poster the other day asking how to act at it?
Posted on 10/21/16 at 12:40 pm to Jones
I thought they only had a gumbo cookoff??
Posted on 10/21/16 at 12:41 pm to Jones
Well this will kill the party atmosphere at the tournament.
Except for the top dogs who are all getting Golden Parachutes.
Except for the top dogs who are all getting Golden Parachutes.
Posted on 10/21/16 at 12:42 pm to upgrayedd
I can think of 3 really good reasons why you don't want to do that.
Posted on 10/21/16 at 12:43 pm to jbgleason
Seeing now someone did post it on the Money Board.
Then again, all the flag kneeling and black lives/racial stuff gets posted here, Political and Sports Board.
Mods...feel free to delete this thread if necessary.
Then again, all the flag kneeling and black lives/racial stuff gets posted here, Political and Sports Board.
Mods...feel free to delete this thread if necessary.
Posted on 10/21/16 at 12:43 pm to ragincajun03
ah that might be it 
Posted on 10/21/16 at 12:44 pm to GRTiger
Posted on 10/21/16 at 12:45 pm to ragincajun03
quote:
I thought they only had a gumbo cookoff??
It was a good time!
Posted on 10/22/16 at 3:02 pm to ragincajun03
quote:
Stone Energy Delcares Chapter 11 Bankruptcy
Very misleading title.
Posted on 10/24/16 at 2:42 pm to crazycubes
Any opportunities here?
Posted on 10/25/16 at 7:47 am to Fat Harry
I asked that same question in the other thread . If Stone cancels their current shares, then buying SGY shares is buying worthless paper . If they keep the shares active , then maybe there is some value there
Posted on 10/25/16 at 12:25 pm to ragincajun03
quote:
"Although the Company intends to pursue the restructuring in accordance with the terms set forth in the (restructuring agreement) , there can be no assurance that the Company will be successful in completing a restructuring or any other similar transaction on the terms set forth in the (restructuring agreement), on different terms or at all."
Well........ Doesn't that just give you the warm and fuzzies......
Posted on 10/25/16 at 4:17 pm to Sid in Lakeshore
Report today that Tidewater is exploring Chapter 11 as well. Yikes
Posted on 10/25/16 at 4:27 pm to Fat Harry
Hornebeck is probably close as well.
Posted on 10/25/16 at 6:16 pm to GREENHEAD22
I've seen more HOS boats stacked in fourchon more than any other boat.
Posted on 10/25/16 at 7:15 pm to b-rab2
One of the last wells I did had there biggest and newest boat supplying. For the day rate they were getting I would bet they were maybe covering operating cost.
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