Stone Energy vote solicitation launch deadline extended to Nov. 17

By Caroline Salls

Pittsburgh, Nov. 16 – Stone Energy Corp. and some of the holders of its 1.75% senior convertible notes due 2017 and 7˝% senior notes due 2022 entered into a third amendment to their restructuring support agreement, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The third amendment extends the company’s deadline for beginning solicitation of votes on its pre-packaged plan of reorganization to Nov. 17 from Nov. 15.

Also under the amendment, the noteholders will have the option to terminate the support agreement at any time that they determine that changes to specified employee plans are not acceptable and changes to indemnification provisions are not reasonably satisfactory.

Stone Energy is a Lafayette, La., oil and gas exploration and production company.

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