Attached files

file filename
EX-99.1 - EXHIBIT 99.1 - STONE ENERGY CORPf8k050817ex991.htm
                                    
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

May 8, 2017
Date of report (Date of earliest event reported)

STONE ENERGY CORPORATION
(Exact Name of Registrant as Specified in Charter)

 
Delaware
 
1-12074
 
72-1235413
 
 
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 

625 E. Kaliste Saloom Road
Lafayette, Louisiana

70508
(Address of Principal Executive Offices)
(Zip Code)
 
 
 
 
Registrant’s telephone number, including area code:  (337) 237-0410


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
 
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
¨
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨  


-1-


Item 2.02. Results of Operations and Financial Condition.

On May 8, 2017, we issued a press release with respect to our first quarter 2017 results. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The press release contains non-GAAP financial measures we call “adjusted net loss” and “discretionary cash flow” (discussed below) that may be deemed non-GAAP financial measures as defined in Item 10 of Regulation S-K under the Securities Exchange Act of 1934 (the “Exchange Act”). The most directly comparable generally accepted accounting principle (“GAAP”) financial measure and information reconciling the GAAP and non-GAAP financial measures “adjusted net loss” and “discretionary cash flow” are also included in the press release.

In the press release, we refer to non-GAAP financial measures we call “discretionary cash flow” and “adjusted net loss.” Management believes that these non-GAAP financial measures of discretionary cash flow and adjusted net loss are useful to investors because they are widely used by professional research analysts in the valuation, comparison, rating and investment recommendations of companies in the oil and gas exploration and production industry. Management believes that discretionary cash flow is a financial indicator of our company’s ability to internally fund capital expenditures and service debt.  Discretionary cash flow should not be considered an alternative to net cash provided by operating activities or net income or loss, as defined by GAAP. Discretionary cash flow equals cash flows from operating activities before changes in operating assets and liabilities. 
        
Item 7.01. Regulation FD Disclosure.

The information set forth under Item 2.02 of this Current Report on Form 8-K is hereby incorporated in Item 7.01 by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this report, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall such information, including Exhibit 99.1, be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits
99.1
Press release dated May 8, 2017, “Stone Energy Corporation Announces Results for the Three Months Ended March 31, 2017”
 
 

-2-


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, Stone Energy Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


STONE ENERGY CORPORATION


Date: May 8, 2017
 
By:
/s/ Lisa S. Jaubert
 
 
 
 
     Lisa S. Jaubert
Senior Vice President, General Counsel and Secretary
 


                


-3-


EXHIBIT INDEX

Exhibit Number
Description
 
 
99.1
Press release dated May 8, 2017, “Stone Energy Corporation Announces Results for the Three Months Ended March 31, 2017”
 
 




-4-