The US independent said it was notified by the US Bureau of Ocean Energy Management (BOEM) last week that it may need to demonstrate proof of its ability to cover plug and abandonment liabilities as its balance sheet has been clobbered by the oil-price downturn.
The regulator has sized up the P&A liability for the company at $565 million.
"Stone is in discussions with BOEM to reduce the amount of the supplemental bonding or other forms of financial assurance that the agency may require and the timing of when such bonds or financial assurances may need to be provided," the company said in a regulatory filing, adding that it has not yet obtained any such measures.
"Stone
