STONE ENERGY CORPORATION (NYSE:SGY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item5.02

On April25, 2017, David H. Welch informed the Board of Directors
(the Board) of Stone Energy Corporation (the Company) of his
intention to retire as the Chief Executive Officer and President
of the Company and as a member of the Board. The Company expects
to enter into a separation agreement with Mr.Welch that will
provide for certain compensation, benefits and other terms
relating to his retirement.

Effective April28, 2017, the Board elected James M. Trimble, a
member of the Board, to serve as the Companys interim Chief
Executive Officer and President. Mr.Trimble, 68, has served as a
director of the Company since February28, 2017. Mr.Trimble
previously served as the Chief Executive Officer and President of
PDC Energy, Inc., a publicly traded independent natural gas and
oil company, from 2011 until 2015. From 2005 until 2010,
Mr.Trimble was the Managing Director of Grand Gulf Energy,
Limited, a public company traded on the Australian Securities
Exchange, and President and Chief Executive Officer of Grand
Gulfs U.S. subsidiary Grand Gulf Energy Company LLC, an
exploration and development company. Mr.Trimble has served on the
board of directors of Callon Petroleum Company since 2014.

In connection with his election, the Company entered into a
compensation term sheet (the Term Sheet) with Mr.Trimble
effective April28, 2017, to which Mr.Trimble is entitled to (i)an
annual base salary equal to $650,000, (ii) an annual target bonus
opportunity equal to 120% of his annual base salary, and (iii)the
option to participate in the Companys employee benefit plans
available to senior executives of the Company. The Company and
Mr.Trimble intend to enter into an employment agreement
consistent with the terms in the Term Sheet following Mr.Trimbles
election. The description of the Term Sheet is qualified in its
entirety by reference to the full text of the Term Sheet, a copy
of which is attached as Exhibit 10.1 to this Current Report on
Form 8-K.

Mr.Trimble does
not have any family relationships with any director, executive
officer or any person nominated to become a director or executive
officer of the Company and there are no arrangements or
understandings between Mr.Trimble and any other person to which
Mr.Trimble was elected as the interim Chief Executive Officer and
President. There are no transactions in which Mr.Trimble had or
will have an interest that would be required to be disclosed to
Item 404(a) of Regulation S-K under the Securities Exchange Act
of 1934, as amended.

Effective April28,
2017, the Board also appointed Keith A. Seilhan, the Companys
Senior Vice President Gulf of Mexico, to serve as the Companys
Chief Operating Officer. Mr.Seilhan, 50, has served as the
Companys Senior Vice President Gulf of Mexico since January 2015
and as Vice President Deep Water from February 2013 until January
2015. Prior to joining the Company, Mr.Seilhan filled various
senior leadership roles for Amoco and BP over his 21 year career
with them. In his final year with BP, he filled the role as BPs
Incident Commander on the Deepwater Horizon Incident in 2010, and
thereafter worked as an Emergency Response Consultant with The
Response Group for one and one half years. While with Amoco and
BP, he served, among other roles, as an Asset Manager and an
Operations Manager for Deep Water assets, Operations Director for
Gulf of Mexico and the Organizational Capability Manager. In
connection with his appointment, Mr.Seilhans annual base salary
was increased from $320,000 to $400,000.

Mr.Seilhan does
not have any family relationships with any director, executive
officer or any person nominated to become a director or executive
officer of the Company and there are no arrangements or
understandings between Mr.Seilhan and any other person to which
Mr.Seilhan was appointed as Chief Operating Officer. There are no
transactions in which Mr.Seilhan had or will have an interest
that would be required to be disclosed to Item 404(a) of
Regulation S-K under the Securities Exchange Act of 1934, as
amended.

On April28, 2017,
the Company issued a press release announcing that Mr.Welch was
retiring as Chief Executive Officer and President and as a member
of the Board and Mr.Trimble was elected interim Chief
Executive

Officer and
President of the Company. The press release also announced that
Mr.Seilhan was promoted to Chief Operating Officer. 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.

(d)Exhibits

About STONE ENERGY CORPORATION (NYSE:SGY)

Stone Energy Corporation is an independent oil and natural gas company. The Company is engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. The Company operates in the Gulf of Mexico (GOM) basin. It has leveraged its operations in the GOM conventional shelf and has its reserve base in the prolific basins of the GOM deep water, Gulf Coast deep gas, and the Marcellus and Utica shales in Appalachia. Its estimated proved oil and natural gas reserves are over 60 million barrels of oil equivalents (MMBoe) or 340 billion cubic feet equivalent (Bcfe). Over 95 MMBoe or 570 Bcfe of its estimated proved reserves are revised downward. It has made investments in seismic data and leasehold interests, and has geological, geophysical, engineering and operational operations in deep water arena to evaluate potential exploration, development and acquisition opportunities. It holds over two deep water platforms, producing reserves and various leases.

STONE ENERGY CORPORATION (NYSE:SGY) Recent Trading Information

STONE ENERGY CORPORATION (NYSE:SGY) closed its last trading session down -0.19 at 20.75 with 108,511 shares trading hands.