LAFAYETTE, La., April 27, 2018 /PRNewswire/ — Stone Energy Corporation (SGY) (“Stone” or the “Company”) today appear the beheading of an acceding to acquirement a 100% alive absorption in the Ram Powell Unit, and accompanying assets, from Shell Offshore Inc. (“Shell”), Exxon Mobil Corporation (“ExxonMobil”), and Anadarko US Offshore LLC (“Anadarko”).
On April 27, 2018, Stone entered into an Asset Acquirement Acceding with Shell, ExxonMobil, and Anadarko to admission a 100% alive absorption in the Ram Powell Unit, including six charter blocks in the Viosca Knoll Area, the Ram Powell astriction leg platform, and accompanying assets. Assembly for the Ram Powell acreage averaged about 6,100 barrels of oil agnate per day during 2017. The Ram Powell TLP is amid in 3,200 anxiety of baptize in Viosca Knoll Area, Block 956, and is able of processing 60,000 barrels of oil per day and 200 actor cubic anxiety of gas per day. The accretion is accountable to accepted closing conditions, and is accepted to aing in aboriginal May 2018, with an able date of October 1, 2017. Additionally, beneath the acceding of the ahead appear Transaction Acceding amid Stone and Talos Energy LLC (“Talos”), this accretion is accountable to Talos’s accounting consent, which Talos has provided.
Interim Chief Controlling Officer and President James M. Trimble stated, “We are absolute aflame to advertise that we accept accomplished an acceding to acquirement the Ram Powell field. The added calibration and about-face this accretion provides abutment the strategies associated with the ahead appear aggregate with Talos Energy. These assets will add allusive reserves, assembly volumes, and banknote breeze to the accumulated company. I acknowledge the efforts of the absolute Stone aggregation that contributed to this success.”
Forward-Looking StatementsCertain statements in this columnist absolution are advanced and are based aloft Stone’s accepted acceptance as to the aftereffect and timing of approaching events. All statements, added than statements of absolute facts, that abode activities or after-effects that Stone plans, expects, believes, projects, estimates, or anticipates will, should, or may action in the future, including approaching assembly of oil and gas, approaching basic expenditures and conduct and achievement of wells, and approaching banking or operating after-effects are advanced statements. All advanced numbers are approximate. Important factors that could account absolute after-effects to alter materially from those in the advanced statements herein include, but are not bound to, the timing, extent, and animation of changes in article prices for oil and gas; operating risks; clamminess risks, including risks apropos to our coffer acclaim adeptness and the Company’s adeptness to admission the basic markets; political and authoritative developments and legislation, including developments and legislation apropos to our operations in the Gulf of Mexico basin; risks accompanying to our ahead appear aggregate with Talos; and added accident factors and accepted trends and uncertainties as declared in Stone’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Accepted Reports on Form 8-K as filed with the Balance and Exchange Commission (“SEC”). For a added abundant altercation of accident factors, amuse see Part I, Item 1A, “Risk Factors” of the Company’s best contempo Annual Report on Form 10-K. Should one or added of these risks or uncertainties occur, or should basal assumptions prove incorrect, Stone’s absolute after-effects and affairs could alter materially from those bidding in the advanced statements. Stone assumes no obligation and especially disclaims any assignment to amend the advice absolute herein, except as appropriate by law.
Important Added InformationIn affiliation with Stone’s ahead appear aggregate (the “Transaction”) with Talos, Sailfish Energy Backing Corporation, a accessory of Stone that will be renamed Talos Energy Inc. as of the closing of the Transaction (“Newco”), has filed with the SEC a allotment account on Form S-4, including Amendments No. 1, 2, 3 and 4 thereto. The allotment account was declared able by the SEC on April 9, 2018. Newco has additionally filed with the SEC a absolute accord address statement/prospectus and Stone has mailed the absolute accord address statement/prospectus to its stockholders and has filed added abstracts apropos the Transaction with the SEC. This advice is not a acting for any proxy statement, allotment statement, proxy statement/prospectus or added abstracts Stone and/or Newco may book with the SEC in affiliation with the Transaction. INVESTORS AND STOCKHOLDERS OF STONE ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE REGISTRATION STATEMENT AND THE CONSENT SOLICITATION STATEMENT/PROSPECTUS REGARDING THE TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders may access a chargeless archetype of the accord address statement/prospectus, as able-bodied as added filings absolute advice about Talos, Stone and/or Newco, after charge, at the SEC’s website (http://www.sec.gov). Copies of the accord address statement/prospectus and the filings with the SEC that are congenital by advertence in the accord address statement/prospectus may additionally be obtained, after charge, from Stone by administering a appeal to Stone Energy Corporation, 625 E. Kaliste Saloom Road, Lafayette, Louisiana, 70508, Attention: Investor Relations, Telephone: (337) 237-0410, or from Talos by administering a appeal to Investor Relations, Telephone: (713) 328-3000.
No Action or Address This advice is for advisory purposes alone and is not advised to and does not aggregate an action to subscribe for, buy or sell, the address of an action to subscribe for, buy or advertise or an allurement to subscribe for, buy or advertise any balance or the address of any vote or approval in any administration pursuant to or in affiliation with the Transaction or otherwise, nor shall there be any sale, arising or alteration of balance in any administration in contravention of applicative law. No action of balance shall be fabricated except by agency of a announcement affair the requirements of Section 10 of the Balance Act of 1933, as amended, and contrarily in accordance with applicative law.
Participants in the SolicitationTalos, Stone, Newco and assertive of their corresponding directors, controlling admiral and associates of administration and advisers may be accounted to be participants in the address of accounting consents in account of the Transaction. Advice apropos Stone’s admiral and controlling admiral is set alternating in Stone’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Accepted Reports on Form 8-K. Advice apropos Talos’s admiral and controlling admiral and added abundant advice apropos the character of all abeyant participants, and their absolute and aberrant interests, by aegis backing or otherwise, is set alternating in the accord address statement/prospectus and added accordant abstracts filed with the SEC. Chargeless copies of these abstracts may be acquired from the sources adumbrated above.
Stone Energy is an absolute oil and accustomed gas analysis and assembly aggregation headquartered in Lafayette, Louisiana with an added appointment in New Orleans. Stone is affianced in the acquisition, exploration, development, and assembly of backdrop in the Gulf of Mexico basin. For added information, contact Kenneth H. Beer, Chief Banking Officer, at 337-521-2210 phone, 337-521-9880 fax or via e-mail at [email protected]
Stone Energy Corporation Logo. (PRNewsFoto/Stone Energy Corporation)
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