Stone Energy Corp priced an offering of $300 million aggregate principal amount of 7.5% senior notes due 2022. The notes will be issued at 98.277% of principal amount, resulting to yield to maturity of 7.75%.Stone intends to use the proceeds to fund its pending offer and consent solicitation for its existing 6.75% senior...
Stone Energy Corp priced an offering of $300 million aggregate principal amount of 7.5% senior notes due 2022. The notes will be issued at 98.277% of principal amount, resulting to yield to maturity of 7.75%.
Stone intends to use the proceeds to fund its pending offer and consent solicitation for its existing 6.75% senior subordinate notes due 2014, and for general corporate purposes.
Stone Energy has retained a financial adviser to market some of its properties on the GoM shelf, state waters and onshore Louisiana.Asset HighlightsProduction relating to the properties represent ~24% of Stone's Q2-2013 production; during Q1 the company produced 40 MBOE/d1P reserves of 15.5 MMBOELooking ahead at upcoming...
Stone Energy has retained a financial adviser to market some of its properties on the GoM shelf, state waters and onshore Louisiana.
Asset Highlights
Production relating to the properties represent ~24% of Stone's Q2-2013 production; during Q1 the company produced 40 MBOE/d
1P reserves of 15.5 MMBOE
Looking ahead at upcoming deal flow in the GoM Shelf, W&T Offshore has the largest package currently on the market. In Apr-2013, the company retained Scotia Waterous for the sale of select GoM Shelf properties.
US independent, Stone Energy Corporation, announced that net profit for 2012 was $149.4 million, down 23% YoY despite higher revenue and production.2012Net profit of $149.4 million, down 23%Revenue of $951.5 million, up 9% YoYProduction was 42 MBOE/d, up 14% YoYEstimated year-end 1P reserves were 129 MMBOE or 773 Bcfe, up 28%;...
Stone Energy announced the appointment of David Lawrence as Director with effect from 9-Oct-2013. Mr. Lawrence will also serve on the Audit, Nominating & Governance and Reserves Committees of the Board of Directors.Mr. Lawrence has extensive global experience across the upstream business, having previously served as...
Stone Energy announced the appointment of David Lawrence as Director with effect from 9-Oct-2013. Mr. Lawrence will also serve on the Audit, Nominating & Governance and Reserves Committees of the Board of Directors.
Mr. Lawrence has extensive global experience across the upstream business, having previously served as EVP-Exploration and Commercial at Shell, and Functional Head of Global Exploration for Shell worldwide from Jun-2009 until his retirement in Apr-2013.
Mr. Lawrence holds a Ph.D. in Geology and Geophysics from Yale University in 1984, and a B.A. in Geology from Lawrence University in 1977.
Stone Energy Corporation, in its 2013 guidance, announced a capex budget of $650 million.The company expects net daily production to average 41-44 MBOE/d or 245-265 MMcfe/d (48%-50% liquids).Capex highlightsMarcellus Shale: $215 million (33%) to be spent on development drilling, infrastructure and acquisition of additional...
Stone Energy Corporation, in its 2013 guidance, announced a capex budget of $650 million.
The company expects net daily production to average 41-44 MBOE/d or 245-265 MMcfe/d (48%-50% liquids).
Capex highlights
Marcellus Shale: $215 million (33%) to be spent on development drilling, infrastructure and acquisition of additional interests; includes funds for one horizontal rig program and drilling and fracturing of 26-32 wells
Deep-water: Allocated ~$189 million (29%); focused mainly on exploration drilling and preparation work to accommodate a rig at the Pompano platform; the company is targeting 2-4 non operated exploration wells for 2013
GoM conventional shelf: Approximately $175 million (27%) allocated to development drilling and other activities; 3-5 development wells to be drilled around Ship Shoal 113 field, onshore South Louisiana
Deep gas: Allocated ~$52 million (8%) for a third well at the La Cantera field and one to three possible exploration wells which may include the onshore La Montana prospect and the offshore Tom Cat prospect
