trimble survey controller 12.46 user manual

The combination involves an all-stock transaction pursuant to which holders of Stone common stock immediately prior to the combination will collectively hold 37% of the outstanding New Talos common stock and the current Talos stakeholders will hold 63% of the outstanding New Talos common stock. Under the terms of a definitive agreement, Talos and Stone will both become wholly-owned subsidiaries of a new holding company, which at closing will become a publicly traded entity named Talos Energy, Inc. See “ Strategic Review and Pending Combination with Talos ” below for additional details. On February 28, 2017, we emerged from bankruptcy, and in April 2017, our board of directors retained a financial advisor to assist them in determining the Company’s strategic direction. We structured a plan of reorganization to improve our financial position and liquidity and filed voluntary petitions under Chapter 11 of Title 11 (“Chapter 11”) of the United States Bankruptcy Code (the “Bankruptcy Code”) on Decem(the “Petition Date”). In response to that decline and the uncertainty regarding future commodity prices, we adjusted our near-term strategy and focused on maintaining maximum liquidity. Oil and natural gas prices significantly declined in the second half of 2014, and sustained lower prices continued throughout 2015, 2016 and early 2017, with a modest recovery in late 2017. Our long-term strategy is to grow net asset value through acquiring, discovering, developing and operating a focused set of margin-advantaged properties while appropriately managing financial, exploration and operational risk. As of December 31, 2017, our estimated proved oil and natural gas reserves were approximately 32.5 MMBoe. See “ Reorganization and Emergence from Voluntary Chapter 11 Proceedings ” below for additional information. We completed the sale of the Appalachia Properties on Februfor net cash consideration of approximately $522.5 million. In connection with our restructuring efforts, we determined that a sale of the Appalachia Properties (as defined below) would be a beneficial way to maximize value for all stakeholders.

At December 31, 2016, we had producing properties and acreage in the Marcellus and Utica Shales in Appalachia.

We leveraged our experience in the GOM conventional shelf and expanded our reserve base into the more prolific plays of the GOM deep water, Gulf Coast deep gas and the Marcellus and Utica shales in Appalachia. We have been operating in the Gulf of Mexico (the “GOM”) Basin since our incorporation in 1993 and have established technical and operational expertise in this area. Stone Energy is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties.

Trimble survey controller 12.46 user manual