Stone Energy Corp. - 2016-03-10

Borrowed the remaining undrawn amount under the bank credit facility. These funds will support general corporate purposes. On March 10, there were $477 million of borrowings under the facility after the $385 million was withdrawn; the $477 million is in addition to about $19 million of outstanding letters of credit. Lazard retained as financial adviser and Latham & Watkins LLP as its legal adviser to assist with financial, transactional and strategic alternatives. Vinson & Elkins LLP will continue providing ongoing corporate and finance representation.