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Stock Market & Financial Investment News

News Breaks
August 8, 2014
07:34 EDTSGYStone Energy upgraded to Buy from Accumulate at KLR Group
KLR Group upgraded Stone Energy to Buy citing valuation and expectations for oil growth in 2015. The firm lowered its price target for shares to $46 from $47.
News For SGY From The Last 14 Days
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January 27, 2015
05:20 EDTSGYTechnip awarded two subsea contracts in Gulf of Mexico by Stone Energy
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January 20, 2015
16:36 EDTSGYStone Energy provides operational update
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16:35 EDTSGYStone Energy reports FY15 capital budget of $450M
Stone's board has authorized a 2015 capital expenditure budget of $450M, which assumes planned sales of minority working interests in certain targeted assets. The budget also excludes acquisitions and capitalized SG&A and interest. The budget is allocated approximately 75% to Deep Water/Gulf Coast, 8% to Appalachia, 4% to Business Development and 13% to Abandonment expenditures. The capital budget and allocation of capital across the various areas is subject to change based on several factors, including commodity pricing, liquidity, permitting times, rig availability, regulatory, non-operator decisions and the sales of working interests in certain targeted assets. The Deep Water capital budget is focused on development and exploration drilling, facility installations for development work, completion operations, and seismic and lease acquisition. Stone expects to participate in drilling two non-operated exploration wells in 1Q15, drill the Cardona #6 well, and complete the Amethyst discovery well and install a flowline back to the Pompano platform. A portion of the budget is also allocated to the expected 4Q15 arrival of the platform rig for the Pompano platform drilling program. The Appalachia capital budget includes securing additional core lease-hold interests and drilling several Marcellus wells in the first quarter before releasing the Marcellus drilling rig. No further Marcellus drilling is projected for the rest of the year. Late in the 4Q15, Stone expects to receive a dual-purpose Utica/Marcellus rig for a 2016 drilling program that is capable of drilling in either shale formation. Capital dedicated to the GOM conventional shelf will be primarily used for recompletions, improvements to existing infrastructure and required plug and abandonment operations. For increased efficiencies, the conventional shelf and deep gas operating groups have been consolidated within the deep water operations. The remainder of the capital budget is focused on onshore business development opportunities.
16:33 EDTSGYStone Energy reports FY14 estimated proved reserves 152 Mmboe
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16:33 EDTSGYStone Energy reports Q4 production 42.5 MBoe per day
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