re: Stone energy. Anyone with info

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Have fun with the nasty wash sale rule. That thing isn't fun at all. But it's all in place to protect the average guy, ain't that right, SEC?

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I actually read up on that and it was more than 30 days after I sold that I bought back in, so I don't expect to have any issues.

I'm nearing actually breaking even to my original buy in, so I'm gonna watch it for a little while and see if I can top that.

We'll see if I break even or not, but yeah the timing worked out pretty well so far to ride it back up a little

You're welcome to anyone who braved sticking around. Up and over $9 again this morning

They just announced a contract termination with Ensco for a deep water well, and a renegotiation for another Appalacian well (probably their largest asset) that had been shut in for some time. So I'm assuming that well is coming online immediately.

These two were very significant for stone from what it seems.

Let it climb.

I can.

I'm now only down 5% now...I think I can, I think I can, I think I can, I think I can, I think I can, I think I can, I think I can, I think I can, I think I can, ....

Looks like these announced agreements likely have alot to do with this spike

LINK

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Stone and Ensco have agreed to terminate Stone's current contract with Ensco for total consideration of $20 million, approximately $5 million of which was a deposit previously provided to Ensco pursuant to the drilling services contract. Further, Stone agreed to provide Ensco the opportunity to perform certain drilling services commenced before December 31, 2019, and Stone paid Ensco a $5 million deposit to be used as a credit against future drilling activities initiated before March 31, 2017, subject to extension in certain circumstances. The ENSCO 8503 deep water rig contract was at a day rate of $341,000 and was scheduled to expire in August 2017. Separately, Stone entered into an interim gas gathering and processing agreement with Williams at the Mary field in Appalachia. The mutually beneficial interim agreement provides near-term relief for Stone by permitting Stone to resume production at the Mary field, thereby providing greater volume to Williams. Volumes from the Mary field are now at approximately 45 MMcfe per day and are expected to climb to over 60 MMcfe per day in July and then over 100 MMcfe per day in August. These volumes are in addition to the approximately 20 MMcfe per day producing from the Heather and Buddy fields. The effects of this agreement on annual guidance, including production volumes and associated costs, are still being assessed. Updates to annual guidance will be provided in Stone's second quarter 2016 press release.

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This is correct, but stone Energy is doing so bad they cancel contract to reduce costs further. This is a sad time for all the Ensco employees because they will probably get laid off in the next month.

Up another 1.00 before 9am. Some people must be pumping some serious $$ into this company right now.