In its Aug-2012 presentation, Stone Energy reported:2012 capital expenditure budget of ~$625 million2012 production guidance of 40 MBOE/d - 46 MBOE/dLa Cantera #1 well commenced production and was successfulMary field production increased2012 estimated average production of 45 MMcfe/d and 2012 exit rate of ~60 MMcfe/d from...
Stone Energy announced a capex of $625 million for 2012 in its Sep-2012 presentation.Capex split:37% on Marcellus Shale36% on conventional shelf18% on deep offshore5% on business developmentRemaining 4% on deep gas
Stone Energy Corporation said it was the highest bidder for 11 offshore US Gulf of Mexico blocks, in the Outer Continental Shelf Lease Sale 227. The sale was carried out by the Bureau of Ocean Energy Management in New Orleans on 20-Mar-2013.The lease acquisitions, with total expenditure of about $38 million, are expected to...
Stone Energy Corporation said it was the highest bidder for 11 offshore US Gulf of Mexico blocks, in the Outer Continental Shelf Lease Sale 227. The sale was carried out by the Bureau of Ocean Energy Management in New Orleans on 20-Mar-2013.
The lease acquisitions, with total expenditure of about $38 million, are expected to add ~62,732 acres (gross) and 46,796 acres (net) to Stone's lease-hold inventory.
Stone Energy reported a 21% YoY fall in 2013 net profit to $118 million. The lower profit was caused by higher operating expenses, especially transportation, processing and gathering costs.2013 highlightsRevenue of $974 million, marginally higher than a year priorGas revenue of $191 million, up 41% YoY; offset by lower oil...
Stone Energy reported a 21% YoY fall in 2013 net profit to $118 million. The lower profit was caused by higher operating expenses, especially transportation, processing and gathering costs.
2013 highlights
Revenue of $974 million, marginally higher than a year prior
Gas revenue of $191 million, up 41% YoY; offset by lower oil revenue of $715 million, down 6% YoY
Operating expenses of $732 million, up 6% YoY
Transportation, processing and gathering expenses costs of $42 million, nearly double the value in 2012
Total production of 46 MBOE (50% liquids), up 10% YoY; attributed to an 18% YoY increase in gas production, especially from the Marcellus play
Stone CEO David H. Welch stated: “We look forward to building on these accomplishments with a continuing deep water and deep gas program in the Gulf of Mexico. We will also continue our low risk Marcellus shale drilling program and expect to augment the program with a test of the prospective Utica shale, which substantially underlies our existing acreage position in Appalachia.”
Stone Energy posted Q3-2013 profit of $36.1 million, up 53% YoY, due to increased gas production from its Marcellus shale assets.
Q3-2013 Highlights
Total production of 49.4 MBOE/d (49% liquids), up 18% YoY, on strong gas production
Gas production of 151 MMcf/d, up 31% YoY, with Marcellus supplying 82 MMcf/d
Revenue of $256 million, up 13% YoY, boosted by gas revenue of $53 million, up 55% YoY
Capex of $162 million, including $24 million spent on well plugging and abandonment
Outlook
Marcellus Shale: 11 additional wells planned in Mary field for Q4-2013; Upper Devonian horizontal well, drilled in Q2, to be tested in Q4
Conventional Shelf: Taildancer prospect well, at Ship Shoal 113, to be online in Q4-2013
Mississippi Canyon (MC): Diamond Ocean Victory rig being mobilized to drill wholly-owned and operated Amethyst exploration well (MC26); Cardona prospect well (MC29) and Mica Deep exploration well (MC211) to spud in Q1-2014
