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Started By
Message
re: Stone energy. Anyone with info
Posted on 4/13/16 at 1:57 pm to GREENHEAD22
Posted on 4/13/16 at 1:57 pm to GREENHEAD22
I've worked for stone as an independent contractor for 4 years on and off and they shut our last major project down and laid off the decommissioning manager and over 100 people in the lafayette office, I doubt they will recover from the downfall.
Posted on 4/13/16 at 2:03 pm to burke985
Not with that attitude they won't.
Posted on 4/13/16 at 4:31 pm to burke985
That's one Shitty attitude.
This post was edited on 4/13/16 at 4:41 pm
Posted on 4/14/16 at 8:39 am to LSUChamp06
quote:
On April 13, 2016, Stone received notice from Bank of America, N.A., as administrative agent and issuing bank under the Fourth Amended and Restated Credit Agreement dated June 24, 2014 (the "Credit Facility"), that its borrowing base had been reduced to $300 million from $500 million, effective April 13, 2016. On March 9, 2016, Stone borrowed $385 million under the Credit Facility, which represented substantially all of the remaining undrawn amount that was available under the Credit Facility. As of April 13, 2016, Stone had $457 million of outstanding borrowings and $18.3 million of outstanding letters of credit under the Credit Facility, or $175.3 million in excess of the redetermined borrowing base (referred to as a borrowing base deficiency). The Credit Facility provides that within 30 days after notification of a borrowing base deficiency, Stone must elect to cure the borrowing base deficiency through any combination of the following actions: (1) repay amounts outstanding sufficient to cure the deficiency within 10 days after Stone's written election to do so; (2) add additional oil and gas properties acceptable to the banks to the borrowing base and take such actions necessary to grant the banks a mortgage in such oil and gas properties within 30 days after Stone's written election to do so; and/or (3) arrange to pay the deficiency in six equal monthly installments. As of April 13, 2016, Stone had cash on hand of approximately $360 million. The new borrowing base will be in effect until Stone's next borrowing base redetermination for the Credit Facility.
Posted on 4/14/16 at 9:21 am to LSUAfro
I probably should've bought those puts yesterday...
But it'll be alright for SGY. A good attitude can pay off all of that debt, or so I've heard.
But it'll be alright for SGY. A good attitude can pay off all of that debt, or so I've heard.
Posted on 4/14/16 at 9:56 am to GREENHEAD22
This was a stock I've been following since 2008. Owned it for a short time in '09 when it was around $3. Sold it soon after, then regrettably watched it climb into the 30's over the next few years. It's been an interesting observation in investing.
Any chance they will be bought out? If so, at what price do yall see a someone picking this up.
Any chance they will be bought out? If so, at what price do yall see a someone picking this up.
Posted on 4/14/16 at 11:39 am to Chuker
quote:Anything's possible I guess, but you have a better chance of winning the Powerball. SGY has too much debt for any company to consider buying them out. If someone else wants SGY's assets, they'll just wait to buy those assets on the auction block for cheap after Stone goes bankrupt.
Any chance they will be bought out?
Posted on 4/14/16 at 4:18 pm to Omada
I actually don't know how this even has any value left. It's going to have to file and reorganize at some point here in the near future. They'll be broke within 6 months. They are in violation of all their debt covenants to their lenders at this point. I hate to see it with a company like stone too.
This post was edited on 4/14/16 at 4:28 pm
Posted on 4/14/16 at 4:56 pm to LSUAfro
The most valuable thing you can get out of Stone right now is this lesson: when times are good, enjoy it, but store up plenty and prepare for the hard times so you can survive to see the next good times.
Also:
Be greedy when others are fearful and fearful when others are greedy.
Conservative investors sleep well.
Also:
Be greedy when others are fearful and fearful when others are greedy.
Conservative investors sleep well.
Posted on 4/27/16 at 8:46 am to Omada
quote:
I probably should've bought those puts yesterday...
Posted on 4/27/16 at 5:47 pm to LSUAfro
Nice 28.5% jump today, damn.
So I'm expecting a 37% fall tomorrow
So I'm expecting a 37% fall tomorrow
Posted on 4/27/16 at 6:04 pm to Brettesaurus Rex
Naw, it's heading to $10 a share
Y'all should buy and hold
Y'all should buy and hold
This post was edited on 4/27/16 at 6:05 pm
Posted on 5/11/16 at 7:56 pm to crazycubes
quote:
Naw, it's heading to $10 a share
Y'all should buy and hold
Bump to
Posted on 5/11/16 at 8:36 pm to CajunAlum Tiger Fan
Haha
Man, I though I had the Midas touch at 1.10 , yep I'm a dumbass . I'm just going to hang on for the ride now
Man, I though I had the Midas touch at 1.10 , yep I'm a dumbass . I'm just going to hang on for the ride now
Posted on 5/12/16 at 7:18 am to CajunAlum Tiger Fan
I didn't put that much in, no worries . I didn't bet the home mortgage or anything
Posted on 5/12/16 at 7:26 am to crazycubes
quote:
I'm just going to hang on for the ride now
Good call. When a company is almost certainly going to file bankruptcy, might as well keep your money there until it does so, so you end up with nothing.
This post was edited on 5/12/16 at 7:39 am
Posted on 5/12/16 at 9:52 am to CajunAlum Tiger Fan
Very thankful I jumped ship at 1.06 at that quick bump last week
Posted on 5/12/16 at 2:04 pm to LSUAfro
quote:
Good call. When a company is almost certainly going to file bankruptcy, might as well keep your money there until it does so, so you end up with nothing.
You have inside info?
ETA:
Well, I took a tiny gamble on this stock. If I sell now , I loose very little. If t goes to zero, I loose very little . However, if it goes to $10, I do quite well.
This post was edited on 5/12/16 at 2:09 pm
Posted on 5/12/16 at 4:09 pm to crazycubes
quote:
You have inside info?
It doesn't take inside info to read the 10-K of a public company. And if you do read SGY's, you should pay attention to their debt levels, the maturity dates of said debt, and that they say in their own report that they'll likely end up defaulting and/or going bankrupt in a matter of months...
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