Stone Energy Corp. in Lafayette on Monday reported a net loss of $292.0 million for the third quarter on oil and natural gas revenue of $128.4 million, compared to a net loss of $29.4 million a year ago on revenue of $175.0 million.

Stone noted that it took a pre-tax noncash charge of $295.7 million, primarily from the affect lower oil prices are having on value of its oil and gas properties. Factoring in that charge, Stone had an adjusted net loss of $8.4 million.

“We have taken steps to reduce our overhead and operating costs, and expect to curtail capital spending in 2016 to more closely align with our cash flow projection,” said David Welch, chairman, president and chief executive officer.