Stone Energy Corp., Lafayette, La., (NYSE: SGY) plans to divest selected properties in the Rockies and onshore and offshore the Gulf of Mexico and reports that it will not actively seek a merger partner. Stone expects the divestiture program to close in the second quarter of 2007 and plans to use the proceeds from the asset sales to reduce its debt. It will also concentrate on its lower-risk exploitation projects. Exploration spending will be focused on Bohai Bay, China.
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