Operational Updates
Stone Energy Highlights Q3 GOM JV, Marcellus Drilling
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Stone Energy Corporation (NYSE: SGY) has reported financial and operational results for the third quarter of 2012 and provided updated guidance.
Some of the highlights include:
• Produced an average of 41.8 MBoe (251 MMcfe) per day during the third quarter of 2012, which represents an 18% increase when compared to the third quarter of 2011. The volumes were impacted by shut-ins due to Hurricane Isaac. Average production for October was approximately 42.6 MBoe (255 MMcfe) per day.
•Brought the second La Cantera delineation well on line in September. Current net production from the two well field is approximately 13 MMcf of gas, 600 Bbls of NGLs and 260 Bbls of oil per day (18 MMcfe per day, net).
•Entered into a joint venture deal with Conoco on four deep water Gulf of Mexico prospects.
•…
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