Stone Energy Files for Bankruptcy

摘要

US Gulf of Mexico oil and gas producer Stone Energy has asked a federal court in Texas to approve a prepackaged reorganization plan under Chapter 11 of the US bankruptcy code. The previously disclosed plan seeks to eliminate $1.2 billion in debt and would leave Stone's noteholders owning 96% of the reorganized company's stock. The company's existing stockholders would see their combined ownership stake in the reorganized company fall to just 4%. The proposed reorganization has already won the support of Stone's banks and the holders of some 80% of its notes.