0001193125-15-347028.txt : 20151019 0001193125-15-347028.hdr.sgml : 20151019 20151019162052 ACCESSION NUMBER: 0001193125-15-347028 CONFORMED SUBMISSION TYPE: POSASR PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20151019 DATE AS OF CHANGE: 20151019 EFFECTIVENESS DATE: 20151019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STONE ENERGY CORP CENTRAL INDEX KEY: 0000904080 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 721235413 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: POSASR SEC ACT: 1933 Act SEC FILE NUMBER: 333-184532 FILM NUMBER: 151164436 BUSINESS ADDRESS: STREET 1: 625 E KALISTE SALOOM RD CITY: LAFAYETTE STATE: LA ZIP: 70508 BUSINESS PHONE: 3182370410 MAIL ADDRESS: STREET 1: 625 E KALISTLE SALOOM RD CITY: LAFAYETTE STATE: LA ZIP: 70508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Stone Energy Offshore, L.L.C. CENTRAL INDEX KEY: 0001463174 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 721235413 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: POSASR SEC ACT: 1933 Act SEC FILE NUMBER: 333-184532-01 FILM NUMBER: 151164437 BUSINESS ADDRESS: STREET 1: 625 EAST KALISTE SALOOM RD. CITY: LAFAYETTE STATE: LA ZIP: 70508 BUSINESS PHONE: 337-237-0410 MAIL ADDRESS: STREET 1: 625 EAST KALISTE SALOOM RD. CITY: LAFAYETTE STATE: LA ZIP: 70508 POSASR 1 d81958dposasr.htm POSASR POSASR

As filed with the Securities and Exchange Commission on October 19, 2015

Registration No. 333-184532

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

POST-EFFECTIVE AMENDMENT NO. 1

TO

FORM S-3

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

STONE ENERGY CORPORATION

STONE ENERGY OFFSHORE, L.L.C.

(Exact names of registrants as specified in their charters)

 

 

 

Delaware   72-1235413
Delaware   72-1235413

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification Numbers)

625 E. Kaliste Saloom Road

Lafayette, Louisiana 70508

(337) 237-0410

(Address, including zip code, and telephone number, including area code, of registrants’ principal executive offices)

 

 

Lisa S. Jaubert

Senior Vice President, General Counsel and Secretary

625 E. Kaliste Saloom Road

Lafayette, Louisiana 70508

(337) 237-0410

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

 

Copies to:

Shelley A. Barber

Vinson & Elkins L.L.P.

666 Fifth Avenue, 26th Floor

New York, New York 10103

(212) 237-0000

(212) 237-0100 (Fax)

 

 

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.  ¨

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.  x

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ¨

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ¨

If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.  x

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer   x    Accelerated filer   ¨
Non-accelerated filer   ¨  (Do not check if a smaller reporting company)    Smaller reporting company   ¨

 

 

 

 

Title of Each Class of

Securities to be Registered(1)(2)

  Amount
to be
Registered(1)(2)
  Proposed
Maximum
Offering Price
Per Unit (1)(2)
  Proposed
Maximum
Aggregate Offering
Price(1)(2)
  Amount of
Registration
Fee(1)(2)(3)

Debt Securities

  —     —     —     —  

Common Stock, par value $.01 per share

  —     —     —     —  

Preferred Stock, par value $.01 per share

  —     —     —     —  

Warrants

  —     —     —     —  

Guarantees of Debt Securities(3)

  —     —     —     —  

Rights

  —     —     —     —  

Units

  —     —     —     —  

Depositary Shares(4)

  —     —     —     —  

Total

  —     —     $500,000,000   $50,350

 

 

(1) Any securities registered hereunder may be sold separately or as units with other securities registered hereunder. The securities which may be offered pursuant to this Registration Statement include, pursuant to Rule 416 under the Securities Act of 1933, as amended (the “Securities Act”), such additional number of shares of the common stock of Stone Energy Corporation (“Stone”) that may become issuable as a result of any stock split, stock dividends or similar event. In the event Stone elects to offer to the public fractional interests in its shares of preferred stock registered hereunder, depositary shares, evidenced by depository receipts issued pursuant to a deposit agreement, will be distributed to those persons purchasing fractional interests and the shares of preferred stock will be issued to the depository under any such agreement.
(2) In accordance with Rule 415(a) under the Securities Act, Stone is amending this Registration Statement to pay a registration fee for an aggregate amount of securities registered hereunder. Previously, Stone had deferred payment of the entire registration fee pursuant to Rules 456(b) and 457(r) under the Securities Act.
(3) A subsidiary of Stone, Stone Energy Offshore, L.L.C., which is named as a co-registrant, may fully and unconditionally guarantee on an unsecured basis the debt securities of Stone. Pursuant to Rule 457(n) of the Securities Act, no separate fee will be payable with respect to the guarantees of the securities.
(4) The depositary shares registered hereunder will be evidenced by depositary receipts issued pursuant to a deposit agreement. If Stone elects to offer to the public fractional interests in shares of preferred stock, then Stone will distribute depositary receipts to those persons purchasing the fractional interests and will issue the shares of preferred stock to the depositary under the deposit agreement.

 

 

 


EXPLANATORY NOTE

This Post-Effective Amendment No. 1 (this “Amendment”) to Stone Energy Corporation’s Registration Statement on Form S-3 (File No. 333-184532) is being filed to (i) pay the registration fee for an aggregate amount of securities registered hereunder and (ii) file or incorporate by reference the required exhibits to the Registration Statement. No changes or additions are being made pursuant to this Amendment to the Prospectuses that form a part of the Registration Statement. Accordingly, the Prospectuses have been omitted from this filing.


PART II

INFORMATION NOT REQUIRED IN PROSPECTUS

 

ITEM 14. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION.

The following table sets forth the estimated expenses in connection with the issuance and distribution of the securities covered by this Registration Statement, other than underwriting discounts and commissions. All of the expenses will be borne by the Company except as otherwise indicated.

 

SEC registration fee

   $  50,350   

Legal fees and expenses

     *   

Accounting fees and expenses

     *   

Listing fee

     *   

Transfer and Disbursement Agent fees

     *   

Printing costs

     *   

Financial Industry Regulatory Authority fee

     *   

Miscellaneous expenses

     *   
  

 

 

 

Total

   $ *   
  

 

 

 

 

* These fees are calculated based on the number of issuances and amount of securities offered and accordingly cannot be estimated at this time.

 

ITEM 15. INDEMNIFICATION OF DIRECTORS AND OFFICERS.

Stone Energy Corporation

Section 145 of the Delaware General Corporation Law (“DGCL”) provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that such person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. Section 145 further provides that a corporation similarly may indemnify any such person serving in any such capacity who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that such person is or was a director, officer, employee or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees) actually and reasonably incurred in connection with the defense or settlement of such action or suit if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Delaware Court of Chancery or such other court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other court shall deem proper.

Article VI of the Bylaws of Stone Energy Corporation provides that indemnification shall be to the fullest extent permitted by the DGCL for all current or former directors or officers of Stone Energy Corporation. It sets out the standard under which Stone Energy Corporation will indemnify directors and officers, provides for reimbursement in such instances, for the advancement or reimbursement for expenses reasonably incurred in defending an action, and for the extension of indemnity to persons other than directors and officers. It also establishes the manner of handling indemnification when a lawsuit is settled. It is not intended that this Bylaw is an exclusive method of indemnification.

 

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We entered into an indemnification agreement with each of our directors and executive officers. The indemnification agreements provide that we indemnify each of our directors and executive officers to the fullest extent permitted by our Certificate of Incorporation, Bylaws and the DGCL. This means, among other things, that we must indemnify the indemnitee against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement that are actually and reasonably incurred in an action, suit or proceeding by reason of the fact that the person is or was a director, officer, employee or agent of Stone Energy Corporation or is or was serving at the request of Stone Energy Corporation as a director, officer, employee or agent of another corporation or other entity if the indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of Stone Energy Corporation and was not otherwise unlawful. Also, the indemnification agreements require that we advance expenses in defending such an action provided that the indemnitee undertakes to repay the amounts if the person ultimately is determined not to be entitled to indemnification. We will also make the indemnitee whole for taxes imposed on the indemnification payments and for costs in any action to establish indemnitee’s right to indemnification, whether or not wholly successful.

In general, the disinterested directors on the Board of Directors or a committee of disinterested directors have the authority to determine an indemnitee’s right to indemnification. However, such determination may also be made by (i) independent legal counsel if there are no disinterested directors or (ii) by our stockholders if the Board of Directors so directs. In the event of a change of control, the indemnitee’s right to indemnification shall be determined by independent legal counsel.

The indemnification agreements shall continue until and terminate upon the later of: (i) ten (10) years after the date that Indemnitee shall have ceased to serve as a director or executive officer of the Company or (ii) one (1) year after the final termination of any action, suit or proceeding for which the Indemnitee is entitled to indemnification.

We carry directors and officers liability coverages designed to insure our officers and directors and those of our subsidiaries against certain liabilities incurred by them in the performance of their duties, and also providing for reimbursement in certain cases to us and our subsidiaries for sums paid to directors and officers as indemnification for similar liability.

Stone Energy Offshore, L.L.C.

Section 18-108 of the Limited Liability Company Act of Delaware empowers a limited liability company, subject to such standards and restrictions, if any, as are set forth in its limited liability company agreement, to indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever. The limited liability company agreement of Stone Energy Offshore, L.L.C. does not set forth any standards or restrictions with respect to indemnification of members or managers or other person.

 

ITEM 16. EXHIBITS.

The following documents are filed as exhibits to this Registration Statement, including those exhibits incorporated herein by reference to a prior filing of the registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, as indicated in parentheses:

 

Exhibit
Number

  

Description

1.1***      Form of Underwriting Agreement.
3.1      Certificate of Incorporation of the Registrant, as amended (incorporated by reference to Exhibit 3.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
3.2      Amended & Restated Bylaws of Stone Energy Corporation, dated December 19, 2013 (incorporated by reference to Exhibit 3.2 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2013 filed February 27, 2014 (File No. 001-12074)).

 

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Exhibit
Number

  

Description

4.1      Second Supplemental Indenture, dated January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., successor to JPMorgan Chase Bank, as trustee (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed January 29, 2010 (File No. 001-12074)).
4.2      Senior Indenture, dated January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed January 29, 2010 (File No. 001-12074)).
4.3      First Supplemental Indenture, dated January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.3 to the Registrant’s Current Report on Form 8-K filed January 29, 2010 (File No. 001-12074)).
4.4      Indenture related to the 1 3/4% Senior Convertible Notes due 2017, dated as of March 6, 2012, among Stone Energy Corporation, Stone Energy Offshore, L.L.C. and The Bank of New York Mellon Trust Company, N.A., as trustee (including form of 1 3/4% Senior Convertible Senior Note due 2017) (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed March 6, 2012 (File No. 001-12074)).
4.5      Second Supplemental Indenture, dated as of November 8, 2012, to the Indenture, dated as of January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed November 8, 2012 (File No. 001-12074)).
4.6      Third Supplemental Indenture, dated as of November 26, 2013, to the Indenture, dated as of January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A, as trustee (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed November 27, 2013 (File No. 001-12074)).
4.7      First Supplemental Indenture and Guarantee, dated as of May 7, 2015, among SEO A LLC, SEO B LLC, Stone Energy Corporation, Stone Energy Offshore LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
4.8      Fourth Supplemental Indenture, dated as of May 7, 2015, among SEO A LLC, SEO B LLC, Stone Energy Corporation, Stone Energy Offshore LLC and The Bank of New York Mellon Trust Company, N.A. as trustee (incorporated by reference to Exhibit 10.3 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
4.9      Form of Subordinated Indenture (incorporated by reference to Exhibit 4.3 to the Registrant’s Registration Statement on Form S-3, initially filed on May 5, 2009 (Registration No. 333-158998)).
4.10***      Form of Senior Note.
4.11***      Form of Subordinated Note.
4.12***      Form of Deposit Agreement.
4.13***      Form of Depositary Receipt.
4.14***      Form of Warrant Agreement, including Form of Warrant Certificate.
4.15***      Form of Guarantee Agreement.
4.16***      Form of Rights Agreement, including Form of Rights Certificate.

 

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Exhibit
Number

  

Description

  4.17      Fourth Amended and Restated Credit Agreement among Stone Energy Corporation as Borrower, Bank of America, N.A. as Administrative Agent and Issuing Bank, and the financial institutions named therein, dated June 24, 2014 (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed June 25, 2014 (File No. 001-12074)).
  4.18      Amendment No. 1 to Credit Agreement, dated as of May 1, 2015, among Stone Energy Corporation as Borrower, Bank of America, N.A. as Administrative Agent and Issuing Bank, and the financial institutions party to the Fourth Amended and Restated Credit Agreement (incorporated by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
  5.1**      Opinion of Vinson & Elkins L.L.P. as to the legality of the securities being registered.
12.1*      Statement of Computation of Ratio of Earnings to Fixed Charges.
23.1*      Consent of Ernst & Young LLP.
23.2*      Consent of Netherland, Sewell & Associates, Inc.
23.3**      Consent of Vinson & Elkins L.L.P. (contained in Exhibit 5.1).
24.1*      Powers of Attorney (contained on signature pages).
25.1*      Form T-1 Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 respecting the Senior Indenture.
25.2****      Form T-1 Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 respecting the Subordinated Indenture.

 

* Filed herewith.
** Previously filed.
*** To be filed by amendment or as an exhibit to a current report on Form 8-K of the registrant.
**** To be filed in accordance with Section 310(a) of the Trust Indenture Act of 1939, as amended.

 

ITEM 17. UNDERTAKINGS.

(a) Each undersigned registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

(ii) To reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and

(iii) To include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement;

provided, however, that paragraphs (i), (ii) and (iii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the

 

II-4


registrants pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of this registration statement.

(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

(i) Each prospectus filed by the registrants pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

(ii) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.

(5) That, for the purpose of determining liability of the registrants under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, each undersigned registrant undertakes that in a primary offering of securities of such undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, such undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

(i) Any preliminary prospectus or prospectus of such undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(ii) Any free writing prospectus relating to the offering prepared by or on behalf of such undersigned registrant or used or referred to by such undersigned registrant;

(iii) The portion of any other free writing prospectus relating to the offering containing material information about such undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

(iv) Any other communication that is an offer in the offering made by such undersigned registrant to the purchaser.

(b) Each undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of such registrant’s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

II-5


(c) Each undersigned registrant hereby undertakes to supplement the prospectus, after the expiration of the subscription period to set forth the results of the subscription offer, the transactions by the underwriters during the subscription period, the amount of unsubscribed securities to be purchased by the underwriters, and the terms of any subsequent reoffering thereof. If any public offering by the underwriters is to be made on terms differing from those set forth on the cover page of the prospectus, a post-effective amendment will be filed to set forth the terms of such offering.

(d) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrants pursuant to the foregoing provisions, or otherwise, the registrants have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, each registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

(e) Each undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee under the Subordinated Indenture to act under subsection (a) of Section 310 of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), in accordance with the rules and regulations prescribed by the Securities and Exchange Commission under Section 305(b) (2) of the Trust Indenture Act.

 

II-6


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lafayette, State of Louisiana on the 19th day of October, 2015

 

STONE ENERGY CORPORATION
By:  

/s/ Kenneth H. Beer

  Name:   Kenneth H. Beer
  Title:  

Executive Vice President and

Chief Financial Officer

STONE ENERGY OFFSHORE, L.L.C.
By:   Stone Energy Corporation Its Sole Member
  By:  

/s/ Kenneth H. Beer

    Name:   Kenneth H. Beer
    Title:   Executive Vice President and Chief Financial Officer

KNOW ALL BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints David H. Welch, Kenneth H. Beer and Lisa S. Jaubert and each of them, any of whom may act without joinder of the other, his or her lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments (including post-effective amendments) to this registration statement and to file the same with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto such attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all said attorneys-in-fact and agents, and each of them, or the substitute or substitutes of any of them, may lawfully do or cause to be done by virtue hereof.

 

II-7


Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following persons on behalf of the registrants and in the capacities and on the dates indicated.

 

Signature

  

Title

 

Date

/S/ DAVID H. WELCH

   President and Chief Executive Officer and   October 19, 2015
David H. Welch   

Chairman of the Board

(principal executive officer)

 

/S/ KENNETH H. BEER

   Executive Vice President and Chief   October 19, 2015
Kenneth H. Beer   

Financial Officer

(principal financial officer)

 

/S/ KARL D. MECHE

   Director of Accounting and Treasurer   October 19, 2015
Karl D. Meche    (principal accounting officer)  

/S/ GEORGE R. CHRISTMAS

   Director   October 19, 2015
George R. Christmas     

/S/ B. J. DUPLANTIS

   Director   October 19, 2015
B. J. Duplantis     

/s/ PETER D. KINNEAR

Peter D. Kinnear

   Director   October 19, 2015

/s/ DAVID T. LAWRENCE

David T. Lawrence

   Director   October 19, 2015

/S/ ROBERT S. MURLEY

   Director   October 19, 2015
Robert S. Murley     

/S/ RICHARD A. PATTAROZZI

   Director   October 19, 2015
Richard A. Pattarozzi     

/S/ DONALD E. POWELL

   Director   October 19, 2015
Donald E. Powell     

/S/ KAY G. PRIESTLY

   Director   October 19, 2015
Kay G. Priestly     

 

    
Phyllis M. Taylor    Director   October 19, 2015

 

II-8


INDEX TO EXHIBITS

 

Exhibit
Number

  

Description

1.1***      Form of Underwriting Agreement.
3.1      Certificate of Incorporation of the Registrant, as amended (incorporated by reference to Exhibit 3.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
3.2      Amended & Restated Bylaws of Stone Energy Corporation, dated December 19, 2013 (incorporated by reference to Exhibit 3.2 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2013 filed February 27, 2014 (File No. 001-12074)).
4.1      Second Supplemental Indenture, dated January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., successor to JPMorgan Chase Bank, as trustee (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed January 29, 2010 (File No. 001-12074)).
4.2      Senior Indenture, dated January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed January 29, 2010 (File No. 001-12074)).
4.3      First Supplemental Indenture, dated January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.3 to the Registrant’s Current Report on Form 8-K filed January 29, 2010 (File No. 001-12074)).
4.4      Indenture related to the 1 3/4% Senior Convertible Notes due 2017, dated as of March 6, 2012, among Stone Energy Corporation, Stone Energy Offshore, L.L.C. and The Bank of New York Mellon Trust Company, N.A., as trustee (including form of 1 3/4% Senior Convertible Senior Note due 2017) (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed March 6, 2012 (File No. 001-12074)).
4.5      Second Supplemental Indenture, dated as of November 8, 2012, to the Indenture, dated as of January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed November 8, 2012 (File No. 001-12074)).
4.6      Third Supplemental Indenture, dated as of November 26, 2013, to the Indenture, dated as of January 26, 2010, among Stone Energy Corporation, Stone Energy Offshore, L.L.C., and The Bank of New York Mellon Trust Company, N.A, as trustee (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed November 27, 2013 (File No. 001-12074)).
4.7      First Supplemental Indenture and Guarantee, dated as of May 7, 2015, among SEO A LLC, SEO B LLC, Stone Energy Corporation, Stone Energy Offshore LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (incorporated by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
4.8      Fourth Supplemental Indenture, dated as of May 7, 2015, among SEO A LLC, SEO B LLC, Stone Energy Corporation, Stone Energy Offshore LLC and The Bank of New York Mellon Trust Company, N.A. as trustee (incorporated by reference to Exhibit 10.3 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
4.9      Form of Subordinated Indenture (incorporated by reference to Exhibit 4.3 to the Registrant’s Registration Statement on Form S-3, initially filed on May 5, 2009 (Registration No. 333-158998)).
4.10***      Form of Senior Note.

 

II-9


Exhibit
Number

  

Description

  4.11***      Form of Subordinated Note.
  4.12***      Form of Deposit Agreement.
  4.13***      Form of Depositary Receipt.
  4.14***      Form of Warrant Agreement, including Form of Warrant Certificate.
  4.15***      Form of Guarantee Agreement.
  4.16***      Form of Rights Agreement, including Form of Rights Certificate.
  4.17      Fourth Amended and Restated Credit Agreement among Stone Energy Corporation as Borrower, Bank of America, N.A. as Administrative Agent and Issuing Bank, and the financial institutions named therein, dated June 24, 2014 (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed June 25, 2014 (File No. 001-12074)).
  4.18      Amendment No. 1 to Credit Agreement, dated as of May 1, 2015, among Stone Energy Corporation as Borrower, Bank of America, N.A. as Administrative Agent and Issuing Bank, and the financial institutions party to the Fourth Amended and Restated Credit Agreement (incorporated by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-12074)).
  5.1**      Opinion of Vinson & Elkins L.L.P. as to the legality of the securities being registered.
12.1*      Statement of Computation of Ratio of Earnings to Fixed Charges.
23.1*      Consent of Ernst & Young LLP.
23.2*      Consent of Netherland, Sewell & Associates, Inc.
23.3**      Consent of Vinson & Elkins L.L.P. (contained in Exhibit 5.1).
24.1*      Powers of Attorney (contained on signature pages).
25.1*      Form T-1 Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 respecting the Senior Indenture.
25.2****      Form T-1 Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 respecting the Subordinated Indenture.

 

* Filed herewith.
** Previously filed.
*** To be filed by amendment or as an exhibit to a current report on Form 8-K of the registrant.
**** To be filed in accordance with Section 310(a) of the Trust Indenture Act of 1939, as amended.

 

II-10

EX-12.1 2 d81958dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Stone Energy Corporation

Computation of Ratio of Earnings to Fixed Charges

(Amounts in thousands of dollars)

 

     Year Ended December 31,    

Six Months
Ended

June 30,

 
     2010     2011     2012     2013     2014     2015  

Earnings:

            

Net income (loss) before income taxes

   $ 152,711      $ 303,466      $ 234,023      $ 186,359      ($ 291,561   ($ 745,248

Plus fixed charges

     42,975        51,322        68,031        79,697        84,577        42,390   

Less capitalized interest

     (30,783     (42,033     (37,656     (46,860     (45,722     (21,553
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

     164,903        312,755        264,398        219,196        (252,706     (724,411
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges:

            

Interest expensed (a)

     12,192        9,289        30,375        32,837        38,855        20,837   

Interest capitalized

     30,783        42,033        37,656        46,860        45,722        21,553   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     42,975        51,322        68,031        79,697        84,577        42,390   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     3.8x        6.1x        3.9x        2.8x        (b     (c

 

(a) Includes amortization of discounts, premiums and issue costs related to indebtedness.
(b) Due to losses incurred in this period, earnings were $337,283 short of covering fixed charges.
(c) Due to losses incurred in this period, earnings were $766,801 short of covering fixed charges.
EX-23.1 3 d81958dex231.htm EX-23.1 EX-23.1

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in Post-Effective Amendment No. 1 to the Registration Statement (Form S-3 No. 333-184532) of our reports dated February 26, 2015, with respect to the consolidated financial statements of Stone Energy Corporation, and the effectiveness of internal control over financial reporting of Stone Energy Corporation, included in its Annual Report (Form 10-K) for the year ended December 31, 2014, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

New Orleans, Louisiana

October 19, 2015

EX-23.2 4 d81958dex232.htm EX-23.2 EX-23.2

Exhibit 23.2

Consent of Independent Petroleum Engineers and Geologists

We do hereby consent to the use of our name in “Item 2. Properties” of the Annual Report on Form 10-K of Stone Energy Corporation (the “Company”) for the year ended December 31, 2014, to references to our firm in the Form 10-K, and to the incorporation by reference thereof into the Company’s Post-Effective Amendment No. 1 to the Registration Statement on Form S-3 (No. 333-184532), in the context in which they appear.

 

NETHERLAND, SEWELL & ASSOCIATES, INC.
By:   /s/ Danny D. Simmons
  Danny D. Simmons, P.E.
  President and Chief Operating Officer

Houston, Texas

October 19, 2015

EX-25.1 5 d81958dex251.htm EX-25.1 EX-25.1

Exhibit 25.1

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

 

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

(Exact name of trustee as specified in its charter)

 

 

 

  95-3571558
(State of incorporation
if not a U.S. national bank)
  (I.R.S. employer
identification no.)

 

400 South Hope Street. Suite 400

Los Angeles, California

  90071
(Address of principal executive offices)   (Zip code)

 

 

STONE ENERGY CORPORATION

STONE ENERGY OFFSHORE, L.L.C.

(Exact name of obligor as specified in its charter)

 

 

 

Delaware
 

72-1235413

72-1235413

(State or other jurisdiction of
incorporation or organization)
  (I.R.S. employer
identification no.)

 

625 E. Kaliste Saloom Road

Lafayette, Louisiana 70508

  70508
(Address of principal executive offices)   (Zip code)

 

 

Senior Notes

(Title of the Indenture Securities)

 

 

 


1. General information. Furnish the following information as to the trustee:

(a) Name and address of each examining or supervising authority to which it is subject.

 

Name

  

Address

Comptroller of the Currency
United States Department of the Treasury
   Washington, D.C. 20219

Federal Reserve Bank

   San Francisco, California 94105

Federal Deposit Insurance Corporation

   Washington, D.C. 20429

(b) Whether it is authorized to exercise corporate trust powers.

Yes.

 

2. Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

 

3-15. Not applicable.

 

16. List of Exhibits.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the “Act”) and 17 C.F.R. 229.10(d).


1. A copy of the articles of association of The Bank of New York Mellon Trust Company, N.A. (Exhibit 1 to Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-3 File No. 333-121948 and Exhibit 1 to Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-3 No. 333-152875).

 

2. A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-3 File No. 333-121948).

 

3. A copy of the authorization of the trustee to exercise corporate trust powers. (Exhibit 3 to Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-3 File No. 333-152875).

 

4. A copy of the existing by-laws of the trustee. (Exhibit 4 to Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-3 File No. 333-152875).

 

6. The consent of the trustee required by Section 321(b) of the Act.

 

7. A copy of the latest report of condition of the trustee published pursuant to law or to the requirements of its supervising or examining authority.


SIGNATURE

Pursuant to the requirements of the Act, the trustee, The Bank of New York Mellon Trust Company, N.A., a banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Chicago, and State of Illinois, on the 16th day of October, 2015.

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
By:  

/s/ Lawrence M. Kusch

  Name: Lawrence M. Kusch
  Title: Vice President


EXHIBIT 6

CONSENT OF THE TRUSTEE

Pursuant to the requirements of Section 321 (b) of the Trust Indenture Act of 1939, and in connection with the proposed issue of Stone Energy Corporation’s and Stone Energy Offshore, L.L.C.’s debt securities, The Bank of New York Mellon Trust Company, N.A. hereby consents that reports of examinations by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon request therefore.

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
By:  

/s/ Lawrence M. Kusch

 

Lawrence M. Kusch

Vice President

Chicago, Illinois

October 16, 2015


EXHIBIT 7

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

of 400 South Hope Street, Suite 400, Los Angeles, CA 90071

At the close of business June 30, 2015, published in accordance with Federal regulatory authority instructions.

 

     Dollar amounts
in thousands
 

ASSETS

  

Cash and balances due from depository institutions:

  

Noninterest-bearing balances and currency and coin

     25,706   

Interest-bearing balances

     215,394   

Securities:

  

Held-to-maturity securities

     0   

Available-for-sale securities

     661,987   

Federal funds sold and securities purchased under agreements to resell:

  

Federal funds sold

     0   

Securities purchased under agreements to resell

     0   

Loans and lease financing receivables:

  

Loans and leases held for sale

     0   

Loans and leases, net of unearned income

     0   

LESS: Allowance for loan and lease losses

     0   

Loans and leases, net of unearned income and allowance

     0   

Trading assets

     0   

Premises and fixed assets (including capitalized leases)

     12,228   

Other real estate owned

     0   

Investments in unconsolidated subsidiaries and associated companies

     0   

Direct and indirect investments in real estate ventures

     0   

Intangible assets:

  

Goodwill

     856,313   

Other intangible assets

     90,615   

Other assets

     126,234   
  

 

 

 

Total assets

   $ 1,988,477   
  

 

 

 

 

1


LIABILITIES

  

Deposits:

  

In domestic offices

     520   

Noninterest-bearing

     520   

Interest-bearing

     0   

Not applicable

  

Federal funds purchased and securities
sold under agreements to repurchase:

  

Federal funds purchased

     0   

Securities sold under agreements to repurchase

     0   

Trading liabilities

     0   

Other borrowed money:

  

(includes mortgage indebtedness and obligations under capitalized leases)

     0   

Not applicable

  

Not applicable

  

Subordinated notes and debentures

     0   

Other liabilities

     279,598   

Total liabilities

   $ 280,118   

Not applicable

  

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0   

Common stock

     1,000   

Surplus (exclude all surplus related to preferred stock)

     1,122,352   

Not available

  

Retained earnings

     584,561   

Accumulated other comprehensive income

     446   

Other equity capital components

     0   

Not available

  

Total bank equity capital

     1,708,359   

Noncontrolling (minority) interests in consolidated subsidiaries

     0   

Total equity capital

   $ 1,708,359   
  

 

 

 

Total liabilities and equity capital

   $ 1,988,477   
  

 

 

 

I, Matthew J. McNulty, CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.

Matthew J. McNulty         )             CFO

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

Antonio I. Portuondo, President

  )   

William D. Lindelof, Director

  )            Directors (Trustees)

Alphonse J. Briand, Director

  )   

 

2