HOUSTON and LAFAYETTE,
Louisiana, May 3, 2018 /PRNewswire/ -- Talos Energy LLC
("Talos") and Stone Energy Corporation (NYSE: SGY); ("Stone") today
announced that a majority of the stockholders of Stone have
approved and adopted the previously announced transaction agreement
under which Talos and Stone will combine in an all-stock
transaction. As a result, no further action by any Stone
stockholder is required under applicable law or otherwise to adopt
the transaction agreement.
Subject to satisfaction or waiver of the remaining customary
closing conditions in the transaction agreement, the
transaction is expected to close on or about May 10, 2018, at which time the common stock of
Stone will cease to be traded on the New York Stock Exchange
("NYSE"). The combined company will be named Talos Energy Inc. and
is expected to trade on the NYSE under the new ticker symbol
"TALO."
About Talos Energy LLC
Talos Energy LLC is a technically driven, independent oil and
gas exploration and production company with operations in
the United States Gulf of Mexico and in the shallow waters off
the coast of Mexico. Talos's
expertise in the United States
Gulf of Mexico is based on
exploring, acquiring, exploiting and developing primarily Deepwater
assets near existing infrastructure. The shallow waters off the
coast of Mexico provide Talos with
high impact exploration opportunities in an emerging basin. The
company's website is located at www.talosenergyllc.com.
About Stone Energy Corporation
Stone Energy Corporation is an independent oil and natural gas
exploration and production company headquartered in Lafayette, Louisiana with an additional office
in New Orleans. Stone is engaged
in the acquisition, exploration, development, and production of
properties in the Gulf of Mexico
basin. The company's website is located
at www.stoneenergy.com.
Cautionary Statement Regarding Forward-Looking
Information
This communication may contain certain forward-looking
statements, including certain plans, expectations, goals,
projections, and statements about the expected benefits of the
proposed transaction, Talos's and Stone's plans, objectives,
expectations and intentions, the expected timing of completion of
the transaction, and other statements that are not historical
facts. Such statements are subject to numerous assumptions, risks,
and uncertainties. Statements that do not describe historical or
current facts, including statements about beliefs and expectations,
are forward-looking statements. Forward-looking statements may be
identified by words such as expect, anticipate, believe, intend,
estimate, plan, project, target, goal, or similar expressions, or
future or conditional verbs such as will, may, might, should,
would, could, or similar variations.
While there is no assurance that any list of risks and
uncertainties or risk factors is complete, below are certain
factors which could cause actual results to differ materially from
those contained or implied in the forward-looking statements
including: the timing, extent, and volatility of changes in
commodity prices for oil and gas; operating risks; liquidity
risks; political and regulatory developments and legislation,
including developments and legislation relating to Talos's and
Stone's operations in the Gulf of Mexico basin; the
possibility that the proposed transaction does not close when
expected or at all because required regulatory or other approvals
are not received or other conditions to the closing, including the
successful completion of the notes exchange, are not satisfied or
waived on a timely basis or at all; potential adverse reactions or
changes to business or employee relationships, including those
resulting from the announcement or completion of the transaction;
uncertainties as to the timing of the transaction; competitive
responses to the transaction; the possibility that the anticipated
benefits of the transaction are not realized when expected or at
all, including as a result of the impact of, or problems arising
from, the integration of the two companies; the possibility that
the transaction may be more expensive to complete than anticipated,
including as a result of unexpected factors or events; diversion of
management's attention from ongoing business operations and
opportunities; the ability to complete the combination and
integration of Talos and Stone successfully; litigation relating to
the transaction; and other factors that may affect future results
of Talos and Stone. Additional factors that could cause results to
differ materially from those described above can be found in
Stone's Annual Report on Form 10-K for the year ended December 31, 2017, which is on file with the SEC
and available in the "Investor Center" section of Stone's
website, www.stoneenergy.com under the heading "SEC
Filings" and in other documents Stone files with the SEC.
All forward-looking statements speak only as of the date they
are made and are based on information available at that time.
Neither Talos nor Stone assumes any obligation to update
forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements were made or to
reflect the occurrence of unanticipated events except as required
by federal securities laws. As forward-looking statements involve
significant risks and uncertainties, caution should be exercised
against placing undue reliance on such statements.
Contact
Sergio Maiworm
Director of Investor Relations and Strategic Planning
(713) 328-3008
investor@talosenergyllc.com
