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Stone Energy acquires GoM assets from Anadarko for $67 millionGlobal Deals
- Stone Energy to acquire interest in GoM assets from Anadarko for $67 million
Asset highlights:
- 25% WI in the five block deepwater Pompano field in Mississippi Canyon;
- 22% WI in Mississippi Canyon Block 29;
- 10% WI in portions of Mississippi Canyon Block 72;
- Net Production of 1.5 MBOE/d (66.67% oil);
- Estimated Proved Reserves of approximately 5.9 MMBOE as of 31-Dec-2011.
View transaction in the Global M&A Database
View recent transactions in deepwater GoM in the Global M&A Database
May 11, 2012
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NEWS
- Stone Energy Q2 Production Up 12%
Stone Energy reported production of 272 MMcfe in Q2-2013, up 12% YoY.Q2-2013 resultsRevenue of $244 million, up 28% YoYNet profit of $39 million, up 28% YoYH1-2013 resultsProduction of 257 MMcfe, up 5% YoYRevenue of $476 million, up 3% YoYNet profit of $80 million in H1-2013, down 2% YoYOperational...
Stone Energy Q2 Production Up 12%Results & Reports, OthersStone Energy reported production of 272 MMcfe in Q2-2013, up 12% YoY.
Q2-2013 results
- Revenue of $244 million, up 28% YoY
- Net profit of $39 million, up 28% YoY
H1-2013 results
- Production of 257 MMcfe, up 5% YoY
- Revenue of $476 million, up 3% YoY
- Net profit of $80 million in H1-2013, down 2% YoY
Operational Update
- Drilled six Marcellus shale wells during Q2-2013 bringing the total to 16 horizontal shale wells drilled in H1-2013
- Production averaged 75 MMcfe/d from Marcellus shale position during Q2-2013
August 6, 2013 - Stone Energy Provides Operational Highlights
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...
Stone Energy Provides Operational HighlightsOthers, Results & ReportsIn its Aug-2012 presentation, Stone Energy reported:
- 2012 capital expenditure budget of ~$625 million
- 2012 production guidance of 40 MBOE/d - 46 MBOE/d
- La Cantera #1 well commenced production and was successful
- Mary field production increased
- 2012 estimated average production of 45 MMcfe/d and 2012 exit rate of ~60 MMcfe/d from Marcellus play
In addition, Stone Energy revealed that it is marketing Tom Cat-promoted interests.August 16, 2012 - Stone Energy Plans $625 Million Capex for 2012
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 Plans $625 Million Capex for 2012Projects & Capex, OthersStone Energy announced a capex of $625 million for 2012 in its Sep-2012 presentation.
Capex split:
- 37% on Marcellus Shale
- 36% on conventional shelf
- 18% on deep offshore
- 5% on business development
- Remaining 4% on deep gas
September 25, 2012 - Stone Energy Highest Bidder on 11 Blocks in US GoM
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...
Stone Energy Highest Bidder on 11 Blocks in US GoMOthersStone 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.
March 22, 2013 
Stone Energy Profit Dips 21% in 2013 on Higher Expenses
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;...
Stone Energy Profit Dips 21% in 2013 on Higher Expenses
Headlines, Results & Reports, OthersStone 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.”
February 25, 2014
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