LAFAYETTE, La., May 1, 2018 /PRNewswire/ -- Stone Energy
Corporation (NYSE: SGY) ("Stone" or the "Company") today announced
that the Company closed the transaction contemplated under the
previously announced Asset Purchase Agreement dated April 27, 2018 to purchase a 100% working
interest in the Ram Powell Unit, and related assets, from Shell
Offshore Inc., Exxon Mobil Corporation, and Anadarko US Offshore
LLC.
Forward-Looking Statements
Certain statements in this
press release are forward-looking and are based upon Stone's
current belief as to the outcome and timing of future events. All
statements, other than statements of historical facts, that address
activities or results that Stone plans, expects, believes,
projects, estimates, or anticipates will, should, or may occur in
the future, including future production of oil and gas, future
capital expenditures and drilling and completion of wells, and
future financial or operating results are forward-looking
statements. All forward-looking numbers are
approximate. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements herein include, but are not limited to, the timing,
extent, and volatility of changes in commodity prices for oil and
gas; operating risks; liquidity risks, including risks relating to
our bank credit facility and the Company's ability to access the
capital markets; political and regulatory developments and
legislation, including developments and legislation relating to our
operations in the Gulf of Mexico
basin; risks related to our previously announced combination with
Talos Energy LLC; and other risk factors and known trends and
uncertainties as described in Stone's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as
filed with the Securities and Exchange Commission ("SEC").
For a more detailed discussion of risk factors, please see Part I,
Item 1A, "Risk Factors" of the Company's most recent Annual Report
on Form 10-K. Should one or more of these risks or
uncertainties occur, or should underlying assumptions prove
incorrect, Stone's actual results and plans could differ materially
from those expressed in the forward-looking statements. Stone
assumes no obligation and expressly disclaims any duty to update
the information contained herein, except as required by law.
Stone Energy is an independent oil and natural gas
exploration and production company headquartered in Lafayette,
Louisiana with an additional office in New Orleans.
Stone is engaged in the acquisition, exploration,
development, and production of properties in the Gulf of Mexico basin. For additional
information, contact Kenneth H. Beer, Chief Financial Officer,
at 337-521-2210 phone, 337-521-9880 fax or via e-mail at
CFO@StoneEnergy.com
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SOURCE Stone Energy Corporation