Item 7.01. Regulation FD Disclosure.
On October 13, 2009, we issued a press release which announced that our borrowing base redetermination process has been completed, provided updated production guidance, and provided an operational update. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
In accordance with General Instruction B.2 of Form 8-K, the information in this report, including Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 ("Exchange Act") or otherwise subject to the liabilities of that section, nor shall such information, including Exhibit 99.1, be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 8.01. Other Events.
On October 9, 2009, we received notice from our bank group that the borrowing base under our bank credit facility will remain at $425 million. The borrowing base under the credit facility is redetermined periodically based on the bank group's evaluation of the estimated proved oil and gas reserves of Stone and its direct and material indirect subsidiaries. At September 30, 2009, we had $250 million in borrowings outstanding under our bank credit facility and $69 million in outstanding letters of credit, leaving $106 million of borrowings available under our bank credit facility. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release dated October 13, 2009, "Stone Energy Corporation Reaffirms Borrowing Base, Increases Third Quarter Production Guidance and Provides Operational Update."

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