For the first quarter of 2013, Stone Energy (NYSE: SGY) reported net income of $40.8 million, or 82 cents per share, on oil and gas revenue of $232.9 million. In the first quarter of 2012, the independent Lafayette-based exploration and production company earned $51 million, or $1.04 per share, on oil and gas revenue of $244.1 million.

david_welch
David Welch
Discretionary cash flow totaled $159.1 million during the first quarter of 2013, the company announced Monday, as compared to $175.1 million during the first quarter of 2012.

First quarter 2013 production was negatively impacted by third party pipeline interruptions in Appalachia, according to the company’s earnings report. First quarter 2013 production mix was 46 percent oil, 6 percent natural gas liquids, and 48 percent natural gas.   

Prices realized during the first quarter of 2013 averaged $109.41 per barrel of oil, $42.49 per barrel of natural gas liquids and $3.17 per Mcf of natural gas. Average realized prices for the first quarter of 2012 were $111.49 per barrel of oil, $67.26 per barrel of NGLs and $2.41 per Mcf of natural gas.

Some of the highlights include:
“We have taken a significant step in our deep water efforts by securing the Diamond Ocean Victory rig and the ENSCO 8500 series rig," David Welch, Stone’s chairman, president and CEO, said in the announcement. “The rigs will be used to drill the Amethyst exploration prospect and the Cardona and Cardona South development wells. If successful, these wells will be produced through the Stone-operated Pompano deep water platform, with Cardona and Cardona South production projected for late 2014 and Amethyst production projected for 2015. In addition to our Stone-operated deep water program, we plan to accelerate our participation in non-operated deep water wells with five-seven exploration prospects being drilled in 2013 and 2014.”

Read more from Welch and view the company’s release here.

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

feed-image RSS Feed
Loading
Chart
ABiz Stock Watch
o Home Bancorp 22.90 ▲0.24 (1.06%)
o Frank's International 17.47 ▲0.05 (0.29%)
o IberiaBank Corp 64.05 ▲0.46 (0.72%)
o LHC Group 23.36 ▲0.15 (0.65%)
o MidSouth Bancorp 18.93 ▲0.06 (0.32%)
o Petroquest Energy 4.47 ▲0.21 (4.93%)
o PHI Inc. 40.04 ▲0.44 (1.11%)
o Superior Energy 25.71 ▲0.70 (2.80%)
o Stone Energy 25.24 ▲1.77 (7.54%)
o Facebook Inc. 80.04 ▲1.67 (2.13%)
o Twitter Inc. 49.67 ▲0.59 (1.20%)
o Gannett 31.24 ▲1.17 (3.89%)
NYSE:HBCP

Home Bancorp

Company ID [NYSE:HBCP] Last trade:22.90 Trade time:4:00PM EDT Value change:▲0.24 (1.06%)
NYSE:FI

Frank's International

Company ID [NYSE:FI] Last trade:17.47 Trade time:4:03PM EDT Value change:▲0.05 (0.29%)
NYSE:IBKC

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:64.05 Trade time:4:00PM EDT Value change:▲0.46 (0.72%)
NYSE:LHCG

LHC Group

Company ID [NYSE:LHCG] Last trade:23.36 Trade time:4:00PM EDT Value change:▲0.15 (0.65%)
NYSE:MSL

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:18.93 Trade time:4:01PM EDT Value change:▲0.06 (0.32%)
NYSE:PQ

Petroquest Energy

Company ID [NYSE:PQ] Last trade:4.47 Trade time:4:03PM EDT Value change:▲0.21 (4.93%)
NYSE:PHII

PHI Inc.

Company ID [NYSE:PHII] Last trade:40.04 Trade time:4:00PM EDT Value change:▲0.44 (1.11%)
NYSE:SPN

Superior Energy

Company ID [NYSE:SPN] Last trade:25.71 Trade time:4:03PM EDT Value change:▲0.70 (2.80%)
NYSE:SGY

Stone Energy

Company ID [NYSE:SGY] Last trade:25.24 Trade time:4:04PM EDT Value change:▲1.77 (7.54%)
NYSE:FB

Facebook Inc.

Company ID [NYSE:FB] Last trade:80.04 Trade time:4:00PM EDT Value change:▲1.67 (2.13%)
NYSE:TWTR

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:49.67 Trade time:4:00PM EDT Value change:▲0.59 (1.20%)
NYSE:GCI

Gannett

Company ID [NYSE:GCI] Last trade:31.24 Trade time:4:03PM EDT Value change:▲1.17 (3.89%)
Advertisement

Read the Flipping Paper!

Click Here for the Entire Print Version of
ABiz
 
Advertisement
Advertisement