Profile: Stone Energy Corp (SGY.N)

SGY.N on New York Stock Exchange

25.24USD
1 Aug 2013
Price Change (% chg)

$0.88 (+3.61%)
Prev Close
$24.36
Open
$24.82
Day's High
$25.26
Day's Low
$24.61
Volume
111,769
Avg. Vol
167,131
52-wk High
$27.87
52-wk Low
$17.38

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Stone Energy Corporation (Stone Energy), incorporated on March 15, 1993, is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. The Company is operating in the Gulf Coast Basin. As of December 31, 2012, its estimated proved oil and natural gas reserves were approximately 773 billions of cubic feet equivalents (Bcfe). On June 18, 2012, the Company completed the acquisition of a 25% working interest in the five block deep water Pompano field in Mississippi Canyon, an approximate 14% working interest in Mississippi Canyon Block 29 and a 10% working interest in certain aliquots of Mississippi Canyon Block 72.

As of December 31, 2012, its deep water properties accounted for approximately 34% of its estimated proved oil and natural gas reserves. As of December 31, 2012, the Company had leasehold interests in approximately 93,000 net acres. During the year ended December 31, 2012, the Company drilled a total of 23 horizontal Marcellus shale wells and fractured 24 wells. The Company expects to add leasehold interests and drill additional wells to further expand its interests in Appalachia. As of December 31, 2012, Its Appalachian properties accounted for approximately 44% of its estimated proved oil and natural gas reserves on a volume equivalent basis. As of December 31, 2012, its deep shelf gas properties accounted for approximately 4% of its estimated proved oil and natural gas reserves. As of December 31, 2012, its Gulf of Mexico (GOM) conventional shelf properties accounted for approximately 18% of its estimated proved oil and natural gas reserves. As of December 31, 2012, its onshore oil properties accounted for less than 1% of its estimated proved oil and natural gas reserves.

The Company’s oil and natural gas production is sold at market prices under short-term contracts. As of February 21, 2013, its property portfolio consisted of 65 active properties and 129 primary term leases in the Gulf Coast Basin (onshore and offshore), five active properties in the Appalachia region, three active properties in the Rocky Mountain region and one active property in the Eagle Ford Shale formation. It serves as operator on 71% of its active properties. As of December 31, 2012, the Company reported estimated proved undeveloped reserves (PUDs) of 336.7 Bcfe, which accounted for 44% of its total estimated proved oil and gas reserves.

Company Address

Stone Energy Corp

625 East Kaliste Saloom Rd.
LAFAYETTE   LA   70508
P: +1337.2370410
F: +1337.5219880

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