Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Stone Boosts CapEx After Strong Appalachian, GoM Results
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Stone Energy Corporation has reported an operational and capital expenditure update.
Utica & Marcellus ShalesIn Appalachia, our Utica Shale well has been successfully drilled with testing expected in the fourth quarter of 2014. Additionally, we continue to realize efficiencies in our Marcellus drilling program and now expect to drill over 35 wells in 2014 compared to the original forecast of 30 wells.
OffshoreIn the deep water, the Cardona development project has been proceeding ahead of schedule and is now expected to begin initial production by December 1, 2014, only six months after drilling the Cardona South well. We believe that gross production will reach approximately 12,000 Boe per day for the two wells (65% working interest).
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