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Stone Talks 4Q Activity; Reiterates GOM-Focused 2016 Plans
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Stone Energy Corporation announced financial and operational results for the fourth quarter and year-end of 2015.
Key Points: Stone's Board of Directors has authorized an initial 2016 capital expenditure budget of $200 million, subject to further Board review. The proposed expenditures are primarily focused on the Pompano platform rig development program and the utilization of the ENSCO 8503 deep water rig for a development well and one or two exploration wells. Highlights include: Average daily production for the fourth quarter of 2015 was 24 MBoe per day, or 145 MMcfe per day, which was impacted by the shut-in of the Mary field in Appalachia for the entire quarter; average daily production for the year 2015 was 40 MBoe per day (238 MMcfe per day), which was within our original full…- ✓ Full news archive — U.S., Canada & international coverage
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