Exploration & Production | Drilling & Completions
Stone Energy Ramps Up Year-End Reserves by 28%
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Stone Energy Corporation has reported its estimated year-end 2012 proved reserves were 129 Mmboe (million barrel equivalents) or 773 Bcfe (billion cubic feet of natural gas equivalent), as compared with 100 Mmboe or 602 Bcfe at year-end 2011, representing a 28% increase in its estimated proved reserves.
From all sources, Stone replaced approximately 288% of production in 2012. The estimated proved reserves were 35% oil, 14% natural gas liquids (NGLs) and 51% gas on an equivalent basis. The changes from 2011 year-end estimated proved reserves to 2012 year-end estimated proved reserves included production of approximately 15 Mmboe or 91 Bcfe, drilling additions/extensions of 30 Mmboe or 181 Bcfe, net upward revisions of 7 Mmboe or 44 Bcfe and net acquisitions of 6 Mmboe or 37 Bcfe.
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