Highlights from Stone Energy Corporation’s 2015 Annual Report
A veteran of the oil, natural gas and energy sector, David Lawrence has honed his expertise with companies including Royal Dutch Shell and Shell Upstream Americas. David Lawrence leverages his knowledge to lead the Lawrence Energy Group as chairman and advise Stone Energy Corporation, including his recent appointment as special liaison of the independent directors on matters of restructuring and strategy.
Headquartered in Lafayette, Louisiana, Stone Energy Corporation released its 2015 annual report, which highlighted the following developments:
Stone Energy owns four wells in the Cardona field. By the end of the year, all wells were placed on the Pompano platform, an online resource that increased barrels of oil equivalent per day (boepd). The transition kept incremental operating costs nearly the same.
Maintaining 100 percent working interest, the Amethyst project is part of the corporation’s deep water development program. Similar to the Cardona wells, it is on the Pompano platform. As of the beginning of 2016, its production of natural gas was flowing at a rate of approximately 35 million cubic feet gas equivalent per day (mmcfepd).
The organization achieved 100 mmcfepd through its wells in the Appalachia. It owns 112 producing wells that are currently in operation and another 23 drilled wells that are pending completion. The wells are located throughout the Marcellus and Utica shales.