Showing posts with label Stone Energy Corporation gives penetrating and creation upgrade. Show all posts
Showing posts with label Stone Energy Corporation gives penetrating and creation upgrade. Show all posts

Tuesday, July 7, 2015

Stone Energy Corporation gives penetrating and creation upgrade

Stone Energy Corporation gives penetrating and creation upgrade

Tuesday, Jul 07, 2015

Stone Energy Corporation (NYSE: SGY) today gave a boring and generation upgrade. In the Gulf of Mexico deepwater, operations at the Cardona #6 advancement all around, situated in Mississippi Canyon obstruct 29, have been continuing in front of timetable and underneath spending plan, and boring has been finished through the focused on zones. The very much experienced more or less 288 feet of net pay in two interims, like the Cardona #5 net pay of 275 feet. Investigation of logging and weight information affirmed the presence of oil in the pay zones. The well has been effectively cased and established over every profitable zone, the subsea tree has been introduced and fruition operations have started. The well will be tied into our current Cardona subsea foundation, which streams into Stone's Pompano stage. It is normal that gross creation from Cardona #6 will reach give or take 5,000 Boe every day (65% working enthusiasm) from the lower finishing by late September.The upper consummation is relied upon to have a comparative generation rate and will be gotten to later on by powerfully moving sleeves between the upper and lower fruitions.

Endless supply of the Cardona #6 well, the ENSCO 8503 deepwater boring apparatus will be discharged for give or take 60 days to get planned support and to be furnished with mooring abilities. The apparatus will then be prepared to Mississippi Canyon hinder 26 to complete the fruition of the Amethyst revelation (100% working hobby). Amethyst will likewise be fixed back to the Pompano stage, where first creation is normal right on time in the first quarter of 2016. Taking after the Amethyst finishing, the apparatus is as of now anticipated to bore the Cardona #7 improvement well and the Lamprey profound water investigation prospect.

Creation for the second quarter is required to be at or over the high end of the past direction scope of 246-258 Mmcfe per day.The increment is a consequence of decreased planned outsider pipeline downtime in the GOM deepwater and compliment than anticipated generation decreases in Appalachia. Extra upward modifications in Appalachian creation may be acknowledged in the second quarter of 2015 profit results pending investment decisions by Stone's working accomplices.

Stone Energy is a free oil and characteristic gas investigation and creation organization headquartered in Lafayette, Louisiana with extra workplaces in New Orleans, Houston and Morgantown, West Virginia. Stone is occupied with the securing, investigation, improvement and generation of properties in the Gulf of Mexico and Appalachian bowls.

Direction Disclosure

Direction is liable to all the preventative explanations and constraints depicted underneath and under the heading "Forward Looking Statements". Gauges for Stone's future creation volumes are in light of presumptions of capital use levels and the suspicion that market request and costs for oil and gas will proceed at levels that take into account monetary generation of these items. The creation, transportation and advertising of oil and gas are liable to interruption because of transportation and handling accessibility, mechanical disappointment, human blunder, sea tempests and various different variables. Stone's appraisals are in view of certain different suppositions, for example, well execution, which may change altogether from those expected. Lease working costs, which incorporate significant support expenses, differ in light of changes in costs of administrations and materials utilized as a part of the operation of our properties and the measure of upkeep action needed.

For more data, please visit : http://www.stoneenergy.com

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