Stone Energy Corp. (NYSE: SGY) priced a public offering of 5 million common shares at $41 each, the company said May 8.
An underwriters’ option allows for an additional 750,000 shares to be bought, the company said, noting that the offer is expected to close May 14.
Net proceeds will support general corporate purposes, the company said. These may include developing the Amethyst discovery, drilling a second Cardona South well, developing the Utica Shale and acquiring additional Appalachian acreage, Stone Energy added.
Barclays Capital Inc. is the sole book-running manager, ...