Stone Energy Corp. (SGY) announced that net daily production for the third quarter is expected to average between 230-235 MMcfe, which is in the upper end of the prior range of 215-235 Mmcfe.
Stone now expects its full year 2009 average daily production to be in the range of 210-220 MMcfe per day compared to its previous annual guidance of 205-225 MMcfe per day.
The company announced that its semi-annual borrowing base re-determination process has been completed and the borrowing base will remain at $425 million. As of September 30, 2009, Stone had $250 million in borrowings outstanding on its credit facility and another $69 million in outstanding letters of credit, leaving $106 million in availability on the facility. Stone's cash position as of September 30, 2009 was approximately $97 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.