Stone Energy emerges from Chapter 11

• Stone Energy (SGY +0.8%) announces the successful completion of conditions required to emerge from Chapter 11 bankruptcy protection, and shares will begin trading tomorrow on the NYSE; trading is halted.
• As previously disclosed, pre-petition holders of SGY's unsecured notes receive 19M new common shares, representing a 95% total stake, while pre-petition stockholders receive 1M new common shares, or 0.176263 share for each existing share, representing a 5% stake.