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SGY > SEC Filings for SGY > Form 8-K on 26-Nov-2013All Recent SEC Filings

Show all filings for STONE ENERGY CORP



Other Events

Item 8.01. Other Events.

By agreement dated November 22, 2013, Stone Energy Corporation (the "Company") concluded a settlement in the aggregate amount of $13 million with the Louisiana Department of Revenue ("LDR") resolving claims asserted in litigation, as well as assessments proposed, by the LDR for franchise and income taxes alleged to be due by the Company for tax years 1999 through 2009. The agreement was reached under an amnesty program pursuant to Act 421 of the 2013 Regular Session of the Louisiana Legislature. The settlement will result in a charge to earnings on the Company's year-end 2013 financial statements of approximately $8.3 million after income tax effects. The franchise tax years 2010 through 2013 remain subject to examination.

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