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Stone Energy Corporation Announces Third Quarter 2012 Results



        Stone Energy Corporation Announces Third Quarter 2012 Results

PR Newswire

LAFAYETTE, La., Nov. 6, 2012

LAFAYETTE, La., Nov. 6, 2012 /PRNewswire/ -- Stone Energy Corporation (NYSE:
SGY) today announced financial and operational results for the third quarter
of 2012 and provided updated guidance.  Some of the highlights include:

  o Produced an average of 41.8 MBoe (251 MMcfe) per day during the third
    quarter of 2012, which represents an 18% increase when compared to the
    third quarter of 2011.  The volumes were impacted by shut-ins due to
    Hurricane Isaac. Average production for October was approximately 42.6
    MBoe (255 MMcfe) per day.
  o Brought the second La Cantera delineation well on line in September.
    Current net production from the two well field is approximately 13 MMcf of
    gas, 600 Bbls of NGLs and 260 Bbls of oil per day (18 MMcfe per day, net).
  o Entered into a joint venture deal with Conoco on four deep water Gulf of
    Mexico prospects.
  o BOEM awarded Stone and its partners 23 high bid leases from the June 2012
    lease sale.
  o Reached total depth on the Parmer deep water appraisal well and
    encountered approximately 240 net feet of gas pay in a new zone.
  o Drilled 17 wells and completed 21 wells in the condensate rich Mary and
    Heather fields in the Marcellus shale during the first nine months of
    2012. Current net daily production is approximately 53 MMcfe in
    Appalachia. In late October, some drilling, completion, and facility
    operations were suspended in this area due to Hurricane Sandy.
  o On October 23, 2012, agreed to issue $300 million 7.50% Senior Notes due
    2022 and tendered for the $200 million 2014 Notes.

Chairman, President and Chief Executive Officer David Welch stated,
"Production showed quarterly and annual growth despite temporary shut-ins due
to Hurricane Isaac.  Incremental volumes from Appalachia and the additional
25% working interest purchased at the Pompano field spurred this quarterly
growth.  We brought on line the second La Cantera well in late September which
should help boost volumes in the fourth quarter.  We are very excited about
our deep water joint venture arrangement with Conoco on four deep water
prospects which allows us to share risk while maintaining material upside in
these prospects. The final awarding of 23 blocks from the June 2012 lease sale
further strengthens our deep water leasehold position.  In our Parmer deep
water well, we encountered encouraging liquids rich gas zones and will be
further evaluating the project with our partners. Finally, in late October we
agreed to issue $300 million 7.50% Senior Notes due 2022 to retire our 2014
Notes and extend our debt maturity and provide additional flexibility."

Financial Results

For the third quarter of 2012, Stone reported net income of $23.7 million, or
$0.48 per share, on oil, gas, and natural gas liquids (NGLs) revenue of $226.7
million, compared to net income of $51.8 million, or $1.06 per share, on oil,
gas, and NGL revenue of $209.3 million in the third quarter of 2011. 
Discretionary cash flow totaled $142.8 million during the third quarter of
2012, as compared to $160.0 million during the third quarter of 2011. Please
see "Non-GAAP Financial Measures" and the accompanying financial statements
for a reconciliation of discretionary cash flow, a non-GAAP financial measure,
to net cash flow provided by operating activities.  

Net daily production during the third quarter of 2012 averaged 41.8 thousand
barrels of oil equivalent (MBoe) per day (251 million cubic feet of gas
equivalent (MMcfe) per day), compared with net daily production of 40.5 MBoe
(243 MMcfe) per day in the second quarter of 2012, and net daily production of
35.4 MBoe (213 MMcfe) per day in the third quarter of 2011.  The production
mix for the third quarter of 2012 was 45% oil, 9% NGLs and 46% natural gas.   

Prices realized during the third quarter of 2012 averaged $104.15 per barrel
of oil, $34.93 per barrel of NGLs and $3.20 per Mcf of natural gas.  Average
realized prices for the third quarter of 2011 were $103.51 per barrel of oil,
$60.81 per barrel of NGLs and $4.48 per Mcf of natural gas. Effective hedging
transactions increased the average realized price of natural gas by $0.55 per
Mcf and increased the average realized price of oil by $2.34 per barrel in the
third quarter of 2012. 

Lease operating expenses (LOE) during the third quarter of 2012 totaled $61.0
million ($15.86 per Boe or $2.64 per Mcfe), compared to $46.6 million ($14.29
per Boe or $2.38 per Mcfe), in the third quarter of 2011.  The increase in the
quarter was primarily due to high seasonal major maintenance costs, added
expense from Hurricane Isaac and incremental LOE from the acquired Pompano
field.

Depreciation, depletion and amortization (DD&A) on oil and gas properties for
the third quarter of 2012 totaled $88.4 million ($22.99 per Boe or $3.83 per
Mcfe), compared to $63.8 million ($19.55 per Boe or $3.26 per Mcfe), in the
third quarter of 2011.

Salaries, general and administrative (SG&A) expenses (excluding incentive
compensation expense) for the third quarter of 2012 were $13.7 million ($3.56
per Boe or $0.59 per Mcfe), compared to $7.2 million ($2.19 per Boe or $0.37
per Mcfe), in the third quarter of 2011.  The third quarter of 2011 had a
one-time positive insurance adjustment which reduced the SG&A reported
expenses for the period.

Capital expenditures before capitalized SG&A and interest during the third
quarter of 2012 were approximately $141.0 million, which includes $25.3
million of plugging and abandonment expenditures.  Additionally, $5.5 million
of SG&A expenses and $9.5 million of interest were capitalized during the
quarter. Capital expenditures before capitalized SG&A and interest for the
first nine months of 2012 were approximately $438 million, which includes $47
million of plugging and abandonment expenditures.  Additionally, $17.7 million
of SG&A expenses and $27.7 million of interest were capitalized during the
first nine months of 2012.

As of September 30, 2012, we had no outstanding borrowings under our bank
credit facility and letters of credit totaling $21.0 million had been issued
pursuant to the facility, leaving $379.0 million of availability under the
facility.   On October 22, 2012, our borrowing base was reaffirmed at $400
million.

On October 23, 2012, we priced an offering of $300 million in aggregate
principal amount of 7.50% Senior Notes due 2022 (Senior Notes).  The Senior
Notes were offered at a price equal to 98.277% of the principal amount
thereof, resulting in a yield to maturity of 7.75%.  Stone expects to close
the sale of the Senior Notes on November 8, 2012, subject to the satisfaction
of customary closing conditions.  Stone intends to use the net proceeds from
the offering to fund its pending tender offer and consent solicitation for its
existing $200 million 6.75% Senior Subordinated Notes due 2014 and the
redemption of any notes not tendered and for general corporate purposes.  The
early tender and consent solicitation expired on November 5, 2012 at 5:00 p.m.
eastern standard time with approximately $136.1 million tendered.

Operational Update

La Cantera (Deep Gas).  The second well (Broussard #2) at the La Cantera deep
gas field located in Vermilion Parish, Louisiana commenced production on
September 18, 2012.  The well is currently producing at an average net rate of
9 MMcf of gas per day, 400 barrels of NGLs per day and 170 barrels of
condensate per day. The Thibodeaux #1 well and the Broussard #2 well are
currently producing at a combined average daily net rate of approximately 13
MMcf of gas, 600 barrels of NGLs and 260 barrels of oil.  A third well has
been proposed and is expected to be drilled in the first half of 2013.  Stone
holds an approximate 34.5% working interest in this project.

Upper Mississippi Canyon Joint Venture.  Stone entered into an Exploration
Agreement with ConocoPhillips Company ("Conoco") covering four deep water
prospects in the Mississippi Canyon / Viosca Knoll areas. This agreement
provides Conoco with an option to participate in four deep water prospects.
Stone and Conoco were successful in acquiring six blocks in the Outer
Continental Shelf Sale 216/222 held in June 2012.  

Lease Sale Results.  The Bureau of Ocean Energy Management (BOEM) awarded
Stone and its partners leases on 23 offshore blocks from the June 2012 Gulf of
Mexico lease sale. These blocks include De Soto Canyon 448, 492, 493, 851 &
895; East Cameron 63; Green Canyon 354, 647, 691, 692, & 821; Mississippi
Canyon 205, 206, 554, 555, 900, 901, & 983; Viosca Knoll 865, 907, 909, & 952;
and West Cameron 175.  The BOEM rejected three of Stone's apparent high bids
due to insufficient consideration.

Green Canyon 823/867 – Parmer (Deep Water). Drilling operations for the Parmer
appraisal well were completed during the third quarter of 2012. The well found
approximately 240 net feet of condensate-rich gas pay in two gas sands that
are full to base, as well as 40 net feet of oil pay in two sands that both
encountered oil on water. After selling down a promoted 15% interest, Stone
holds a 35% working interest in the prospect which includes Apache (35% –
operator) and Ecopetrol America (30%). Plans for future development are
currently being evaluated.

Walker Ridge 719 – Phinisi (Deep Water). The deep water Phinisi exploration
well is currently scheduled to spud in the second quarter of 2013. Stone holds
a 20% working interest in the prospect which is operated by ENI.

Appalachian Basin (Marcellus Shale).  Current net production from the Mary,
Heather, Buddy and Katie fields in the Marcellus shale is approximately 53
MMcfe per day.  Production increased with the initiation of production from
the 7-well Potts pad at our Mary field in August 2012.  Drilling continues in
the condensate and NGL rich Mary and Heather fields in West Virginia with a
total of 17 horizontal wells drilled year to date.  Additionally, Stone has
fracture-stimulated 21 wells in its Mary field this year.  Stone has drilled a
total of 59 horizontal wells in the Marcellus Shale and is currently producing
from 35 wells. Production from the 6-well Weekly pad and 3-well Maury pad is
expected to begin during the fourth quarter of 2012 (all located in the Mary
field).  Stone expects to drill 25 horizontal wells and complete 24 to 28
wells in the Mary and Heather fields during 2012. 

Conventional Shelf.  The Pounder well in the Ship Shoal 113 field commenced
production on August 6, 2012. Current net production is approximately 1,300
barrels of oil per day.  Stone's Calico Bass prospect was unsuccessful and has
been abandoned.

2012 Guidance

Guidance for the fourth quarter and full year 2012 has been updated (updated
guidance numbers are italicized and bolded) and is shown in the table below.
The guidance is subject to all the cautionary statements and limitations
described below under the caption "Forward Looking Statements."

                                                              Fourth   Full
                                                              Quarter  Year
                                                              42.5 –   42 –
Production - MBoe per day                                     45       42.5

                   (MMcfe per day)                            (255–    (250 –
                                                              270)     255)
Lease operating  expenses (in millions)                                $210 -
                                                              -        $215
(excluding transportation/processing expenses)
Transportation, processing and gathering (in millions)        -        $22 -
                                                                       $26
Salaries, General & Administrative expenses (in millions)     -        $52 -
                                                                       $55
(excluding incentive compensation)
                                                                       $22.20
Depreciation, Depletion & Amortization (per Boe)              -        -
                                                                       $23.70
                                                                       $3.70 -
(per Mcfe)                                                             $3.95
Corporate Tax Rate (%)                                        -        36% -
                                                                       37%
Capital Expenditure Budget (in millions)
                                                              -        $625
  (excluding material acquisitions)

                

Hedge Position

The following table illustrates our derivative positions for 2012, 2013, 2014
and 2015 as of November 6, 2012: 

                         Fixed-Price Swaps
                         NYMEX (except where noted)
                         Natural Gas         Oil
                         Daily               Daily
                                     Swap                  Swap
                         Volume              Volume
                                     Price                 Price
                         (MMBtus/d)          (Bbls/d)
2012                     10,000      $5.035  1,000         $90.30
2012                     10,000      5.040   1,000         90.41
2012                     10,000      5.050   1,000         90.45
2012                                         1,000         95.50
2012                                         2,000         97.60
2012                                         1,000         98.15
2012                                         1,000         100.00
2012                                         1,000         101.55
2012                                         1,000         104.25
2012                                          1,000*       111.02
2013                     10,000      4.000   1,000         92.80
2013                     10,000      5.270       2,000 **  94.05
2013                     10,000      5.320   1,000         94.45
2013                                         1,000         94.60
2013                                         1,000         97.15
2013                                         1,000         101.53
2013                                         1,000         103.00
2013                                         1,000         103.15
2013                                         1,000         104.25
2013                                         1,000         104.47
2013                                         1,000         104.50
2013                                          1,000*       107.30
2014                     10,000      4.000   1,000         90.06
2014                     10,000      4.250   1,000         93.55
2014                                         1,000         98.00
2014                                         1,000         98.30
2014                                         1,000         99.65
2014                                          1,000*       103.30
2015                     10,000      4.005   1,000         90.00
* Brent oil contract
 ** January through June

Other Information

Stone Energy has planned a conference call for 10:00 a.m. Central Time on
Wednesday, November 7, 2012 to discuss the operational and financial results
for the third quarter of 2012. Anyone wishing to participate should visit our
website at www.StoneEnergy.com for a live web cast or dial 1-877-228-3598 and
request the "Stone Energy Call."  If you are unable to participate in the
original conference call, a replay will be available immediately following the
completion of the call on Stone Energy's website.  The replay will be
available for one month.

Non-GAAP Financial Measures

In this press release, we refer to a non-GAAP financial measure we call
"discretionary cash flow."  Management believes discretionary cash flow is a
financial indicator of our company's ability to internally fund capital
expenditures and service debt.  Management also believes this non-GAAP
financial measure of cash flow is useful information to investors because it
is widely used by professional research analysts in the valuation, comparison,
rating and investment recommendations of companies in the oil and gas
exploration and production industry. Discretionary cash flow should not be
considered an alternative to net cash provided by operating activities or net
income, as defined by GAAP.  Please see the "Reconciliation of Non-GAAP
Financial Measure" for a reconciliation of discretionary cash flow to cash
flow provided by operating activities.

Forward Looking Statements

Certain statements in this press release are forward-looking and are based
upon Stone's current belief as to the outcome and timing of future events. All
statements, other than statements of historical facts, that address activities
that Stone plans, expects, believes, projects, estimates or anticipates will,
should or may occur in the future, including future production of oil and gas,
future capital expenditures and drilling of wells and future financial or
operating results are forward-looking statements.  Important factors that
could cause actual results to differ materially from those in the
forward-looking statements herein include the timing and extent of changes in
commodity prices for oil and gas, operating risks, liquidity risks, political
and regulatory developments and legislation, including developments and
legislation relating to our operations in the Gulf of Mexico and Appalachia,
and other risk factors and known trends and uncertainties as described in
Stone's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed
with the SEC. Should one or more of these risks or uncertainties occur, or
should underlying assumptions prove incorrect, Stone's actual results and
plans could differ materially from those expressed in the forward-looking
statements.

Estimates for Stone's future production volumes are based on assumptions of
capital expenditure levels and the assumption that market demand and prices
for oil and gas will continue at levels that allow for economic production of
these products. The production, transportation and marketing of oil and gas
are subject to disruption due to transportation and processing availability,
mechanical failure, human error, hurricanes and numerous other factors. 
Stone's estimates are based on certain other assumptions, such as well
performance, which may vary significantly from those assumed. Delays
experienced in well permitting could affect the timing of drilling and
production. Lease operating expenses, which include major maintenance costs,
vary in response to changes in prices of services and materials used in the
operation of our properties and the amount of maintenance activity required. 
Estimates of DD&A rates can vary according to reserve additions, capital
expenditures, future development costs, and other factors. Therefore, we can
give no assurance that our future production volumes, lease operating expenses
or DD&A rates will be as estimated.

Stone Energy is an independent oil and natural gas exploration and production
company headquartered in Lafayette, Louisiana with additional offices in New
Orleans, Houston and Morgantown, West Virginia. Our business strategy is to
leverage cash flow generated from existing assets to maintain relatively
stable GOM shelf oil production, profitably grow gas reserves and production
in price-advantaged basins such as Appalachia and the Gulf Coast Basin, and
profitably grow oil reserves and production in material impact areas such as
the deep water GOM and onshore oil.  For additional information, contact
Kenneth H. Beer, Chief Financial Officer, at 337-521-2210 phone, 337-521-9880
fax or via e-mail at CFO@StoneEnergy.com.

 STONE ENERGY CORPORATION
 SUMMARY STATISTICS
 (In thousands, except per share/unit amounts)
 (Unaudited)
                                     Three Months Ended    Nine Months Ended

                                     September 30,         September 30,
                                     2012       2011       2012       2011
 FINANCIAL RESULTS
 Net income                          $23,659    $51,821    $105,180   $148,809
 Net income per share                $0.48      $1.06      $2.13      $3.04
 PRODUCTION QUANTITIES
   Oil (MBbls)                       1,736      1,521      5,289      4,804
   Natural Gas (MMcf)                10,615     9,544      31,031     29,025
   Natural gas liquids (MBbls)       341        149        794        429
   Oil, gas and NGLs (MBoe)          3,846      3,261      11,255     10,071
   Oil, gas and NGLs (MMcfe)         23,077     19,564     67,529     60,423
 AVERAGE DAILY PRODUCTION
   Oil (MBbls)                       19         17         19         18
   Gas (MMcf)                        115        104        113        106
   Natural gas liquids (MBbls)       4          2          3          2
   Oil, gas and NGLs (MBoe)          42         35         41         37
   Oil, gas and NGLs (MMcfe)         251        213        246        221
 REVENUE DATA
   Oil revenue                       $180,806   $157,436   $564,745   $484,788
   Natural Gas revenue               34,003     42,771     91,006     131,815
   Natural gas liquids revenue       11,910     9,060      35,228     25,290
   Total oil, natural gas and NGL    $226,719   $209,267   $690,979   $641,893
 revenue
 AVERAGE PRICES
 Prior to the cash settlement of
 effective hedging transactions:
   Oil (per Bbl)                     $101.81    $105.67    $106.57    $106.34
   Natural Gas (per Mcf)             2.65       4.00       2.38       4.09
   Natural gas liquids (per Bbl)     34.93      60.81      44.37      58.95
   Oil, gas and NGLs (per Boe)       56.35      63.78      59.76      65.04
   Oil, gas and NGLs (per Mcfe)      9.39       10.63      9.96       10.84
 Including the cash settlement of
 effective hedging transactions:
   Oil (per Bbl)                     $104.15    $103.51    $106.78    $100.91
   Natural Gas (per Mcf)             3.20       4.48       2.93       4.54
   Natural gas liquids (per Bbl)     34.93      60.81      44.37      58.95
   Oil, gas and NGLs (per Boe)       58.95      64.17      61.39      63.74
   Oil, gas and NGLs (per Mcfe)      9.82       10.70      10.23      10.62
 COST DATA
   Lease operating expenses          $60,995    $46,591    $157,030   $130,486
   Salaries, general and
 administrative                      13,673     7,151      40,521     29,494

   expenses
   DD&A expense on oil and gas
                                     88,417     63,757     258,598    201,934
   properties
 AVERAGE COSTS
   Lease operating expenses (per     $15.86     $14.29     $13.95     $12.96
 Boe)
   Lease operating expenses (per     2.64       2.38       2.33       2.16
 Mcfe)
   Salaries, general and
 administrative                      3.56       2.19       3.60       2.93

   expenses (per Boe)
   Salaries, general and
 administrative                      0.59       0.37       0.60       0.49

   expenses (per Mcfe)
   DD&A expense on oil and gas
 properties                          22.99      19.55      22.98      20.05

   (per Boe)
   DD&A expense on oil and gas
 properties                          3.83       3.26       3.83       3.34

   (per Mcfe)
 AVERAGE SHARES OUTSTANDING –        48,384     48,071     48,343     48,006
 Diluted

    

STONE ENERGY CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands)
(Unaudited)
                                        Three Months Ended  Nine Months Ended

                                        September 30,       September 30,
                                        2012      2011      2012      2011
        Operating revenue:
         Oil production                 $180,806  $157,436  $564,745  $484,788
         Gas production                 34,003    42,771    91,006    131,815
         Natural gas liquids            11,910    9,060     35,228    25,290
production
         Other operational income       678       1,245     2,520     2,994
         Derivative income, net         -         4,082     3,119     3,300
                     Total operating    227,397   214,594   696,618   648,187
revenue
       Operating expenses:
         Lease operating expenses       60,995    46,591    157,030   130,486
         Transportation, processing
and gathering                           6,762     2,763     15,911    7,311

         expenses
         Other operational expenses     82        654       195       1,452
         Production taxes               1,842     2,492     7,578     6,828
         Depreciation, depletion and    89,274    64,462    260,982   204,777
amortization
         Accretion expense              8,405     7,700     24,926    23,134
         Salaries, general and
administrative                          13,673    7,151     40,521    29,494

         expenses
         Incentive compensation         67        2,087     3,907     7,104
expense
         Derivative expense, net        1,812     -         -         -
                     Total operating    182,912   133,900   511,050   410,586
expenses
        Income from operations          44,485    80,694    185,568   237,601
        Other (income) expenses:
         Interest expense               7,692     1,379     21,107    6,470
         Interest income                (117)     (23)      (227)     (170)
         Other income, net              (443)     (372)     (1,229)   (1,499)
         Loss on early extinguishment   -         -         -         607
of debt
         Other expense, net             -         308       -         501
                     Total other        7,132     1,292     19,651    5,909
expenses
        Net income before taxes         37,353    79,402    165,917   231,692
        Provision (benefit) for income
taxes:
         Current                        595       (12,681)  1,164     (15,043)
         Deferred                       13,099    40,262    59,573    97,926
                     Total income       13,694    27,581    60,737    82,883
taxes
       Net income                       $23,659   $51,821   $105,180  $148,809

         

STONE ENERGY CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURE
(In thousands)
(Unaudited)
                                        Three Months Ended  Nine Months Ended

                                        September 30,       September 30,
                                        2012      2011      2012      2011
Net income as reported                  $23,659   $51,821   $105,180  $148,809
Reconciling items:
Depreciation, depletion and             89,274    64,462    260,982   204,777
amortization
Deferred income tax provision.          13,099    40,262    59,573    97,926
Accretion expense                       8,405     7,700     24,926    23,134
Stock compensation expense              2,529     1,354     6,800     4,492
Early extinguishment of debt            -         -         -         607
Non-cash interest expense               3,790     453       9,068     1,412
Other                                   2,087     (6,011)   (1,450)   (7,189)
Discretionary cash flow                 142,843   160,041   465,079   473,968
Changes in income taxes payable         681       (15,465)  (3,240)   (21,710)
Settlement of asset retirement          (25,293)  (18,975)  (47,211)  (52,543)
obligations
Other working capital changes           6,246     16,280    (40,715)  (11,302)
Net cash provided by operating          $124,477  $141,881  $373,913  $388,413
activities

         

STONE ENERGY CORPORATION
CONSOLIDATED BALANCE SHEET
(In thousands)
(Unaudited)
                                                   September 30,  December 31,
                                                   2012           2011
Assets
Current assets:
         Cash and cash equivalents                 $176,186       $38,451
         Accounts receivable                       127,250        118,139
         Fair value of hedging contracts           34,010         25,177
         Current income tax receivable             24,066         19,946
         Deferred taxes                            12,280         26,072
         Inventory                                 4,506          4,643
         Other current assets.                     3,246          791
               Total current assets                381,544        233,219
Oil and gas properties, full cost method of
accounting:
         Proved                                    7,039,450      6,648,168
         Less: accumulated depreciation,           (5,427,668)    (5,174,729)
depletion and amortization
         Net proved oil and gas properties .       1,611,782      1,473,439
         Unevaluated                               454,639        401,609
Other property and equipment, net                  13,399         11,172
Fair value of hedging contracts                    18,155         22,543
Other assets, net..                                35,158         23,769
         Total assets                              $2,514,677     $2,165,751
Liabilities and Stockholders' Equity
Current liabilities:
         Accounts payable to vendors               $99,362        $102,946
         Undistributed oil and gas proceeds        24,277         27,328
         Accrued interest                          9,774          14,059
         Fair value of hedging contracts           1,077          11,122
         Asset retirement obligations              59,366         62,676
         Other current liabilities                 11,405         28,370
               Total current  liabilities          205,261        246,501
Bank debt.                                         -              45,000
6¾% Senior Subordinated Notes due 2014.            200,000        200,000
8⅝% Senior Notes due 2017                          375,000        375,000
1¾% Senior Convertible Notes due 2017*             236,024        -
Deferred taxes                                     298,100        247,835
Asset retirement obligations                       351,023        363,103
Fair value of hedging contracts                    2,266          815
Other long-term liabilities                        20,844         19,668
         Total liabilities                         1,688,518      1,497,922
Common stock                                       484            481
Treasury stock                                     (860)          (860)
Additional paid-in capital                         1,383,741      1,338,565
Accumulated deficit                                (587,045)      (692,225)
Accumulated other comprehensive income             29,839         21,868
         Total stockholders' equity                826,159        667,829
         Total liabilities and stockholders'       $2,514,677     $2,165,751
equity
*Face value of $300 million

 

SOURCE Stone Energy Corporation

Website: http://www.stoneenergy.com
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