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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
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Stone Energy Q3 Profit Up 53% on Strong Marcellus ProductionOthers, Results & Reports
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
November 5, 2013 
Stone Energy Divests Appalachia Assets for $527 Million
Stone Energy has sold all of its approximately 86,000 net acres in the Appalachia regions of Pennsylvania and West Virginia, including approximately 53,000 core net Marcellus acres and drilling rights on approximately 44,000 net acres in the Utica, to EQT Corporation, through its wholly-owned subsidiary EQT...
Stone Energy Divests Appalachia Assets for $527 Million
Global DealsStone Energy has sold all of its approximately 86,000 net acres in the Appalachia regions of Pennsylvania and West Virginia, including approximately 53,000 core net Marcellus acres and drilling rights on approximately 44,000 net acres in the Utica, to EQT Corporation, through its wholly-owned subsidiary EQT Production Company (EQT), for a sales price of $527 million.
Stone Energy expects to close the sale of the assets by 28-Feb-2017.
View Stone Energy press release
February 9, 2017- Stone Energy Reserves Rise 28% in 2012
Stone Energy announced that its estimated year-end 2012 proved reserves grew 28% YoY to 129 MMBOE or 773 Bcfe (49% liquids):Proved developed reserves of 73 MMBOE (52% liquids) and proved undeveloped reserves of 56 MMBOE (45% liquids)Changes over 2011 came from production of 15 MMBOE, drilling...
Stone Energy Reserves Rise 28% in 2012Others, Results & ReportsStone Energy announced that its estimated year-end 2012 proved reserves grew 28% YoY to 129 MMBOE or 773 Bcfe (49% liquids):
- Proved developed reserves of 73 MMBOE (52% liquids) and proved undeveloped reserves of 56 MMBOE (45% liquids)
- Changes over 2011 came from production of 15 MMBOE, drilling additions/extensions of 30 MMBOE, net upward revisions of 7 MMBOE and net acquisitions of 6 MMBOE
- Estimated 2P reserves: 59 MMBOE; 3P reserves: 167 MMBOE
- 1P reserves addition replaced ~288% of production in 2012
David Welch, Chairman, President and CEO at Stone, said, "Our reserves mix is now 44% Appalachia, 34% Deep Water, and 22% Conventional Shelf/Deep Gas, ... Our reserve life has grown from 5.2 years in 2009 to approximately 8.5 years currently."
January 16, 2013 - Stone Energy Raises 2013 Guidance to 45 MBOE/d
Stone Energy raised its average production target to 43-45 MBOE/d for the year, compared to its earlier 2013 guidance of 41-44 MBOE/d. Capex 2013 guidance has also been revised to $710 million from $650 million.Operational highlightsTaggart prospect encountered a 90 ft interval of net oil and gas...
Stone Energy Raises 2013 Guidance to 45 MBOE/dProjects & Capex, OthersStone Energy raised its average production target to 43-45 MBOE/d for the year, compared to its earlier 2013 guidance of 41-44 MBOE/d.
Capex 2013 guidance has also been revised to $710 million from $650 million.
Operational highlights
- Taggart prospect encountered a 90 ft interval of net oil and gas condensate pay in two sands
- Taildancer prospect made discovery at Ship Shoal 113, with the well encountering 130 ft of net oil and gas pay
- Drilling has begun at San Marcos prospect, located at Mississippi Canyon 983
September 10, 2013 - Stone Energy Prices Senior Notes Offering, Upsized by $75...
Stone Energy has priced an offering of $475 million aggregate principal amount of its 7.5% Senior Notes due 2022. The $475 million offer is an increase of $75 million over the amount Stone initially announced. Stone expects to close the offering on 27-Nov-2013. The net proceeds from the offering...
Stone Energy Prices Senior Notes Offering, Upsized by $75 MillionOthersStone Energy has priced an offering of $475 million aggregate principal amount of its 7.5% Senior Notes due 2022. The $475 million offer is an increase of $75 million over the amount Stone initially announced. Stone expects to close the offering on 27-Nov-2013.
The net proceeds from the offering will be used to service existing debt and for general corporate purposes.
View Stone Energy press release
November 14, 2013
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