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Stone Energy Corporation Announces Third Quarter 2013 Results

        Stone Energy Corporation Announces Third Quarter 2013 Results

PR Newswire

LAFAYETTE, La., Nov. 4, 2013

LAFAYETTE, La., Nov. 4, 2013 /PRNewswire/ --Stone Energy Corporation (NYSE:
SGY) today announced financial and operational results for the third quarter
of 2013 and provided updated guidance. Some of the highlights include:

  oGenerated net income of $36.1 million and cash flow of $166.1 million.
  oProduction for the third quarter of 2013 averaged 49.4 thousand barrels of
    oil equivalent (MBoe) per day, which was near record volumes, and
    represents an 18% increase from 41.8 MBoe per day in the third quarter of
    2012.
  oThe San Marcos deep water well spud in September and is currently drilling
    with a target depth of 29,000 feet.
  oThe drilling rig for the Stone operated Amethyst deep water prospect is
    mobilizing to location.
  oThe deep gas Tomcat prospect was spud in October and is currently drilling
    at approximately 3,500 feet with a target depth of 16,125 feet.

Chairman, President and Chief Executive Officer David Welch stated, "We have
entered an exciting phase of our ongoing strategy to grow the company. We
registered one of the highest levels of quarterly production in Stone's
history with volumes just under 50,000 Boe per day and have increased full
year production guidance again. Over the next several quarters, we are
exposing the company to numerous significant projects in the Gulf of Mexico
deep water. We are currently participating in the San Marcos deep water
prospect and we are moving a rig to drill the Stone operated deep water
Amethyst prospect, with both scheduled to be at total depth in the first
quarter of 2014. We expect to spud both our Stone operated Cardona development
well and the ExxonMobil operated Mica Deep prospect in early 2014. In
addition, the Tomcat deep gas exploration prospect is drilling and is
projected to be at total depth in early 2014. In Appalachia, we experienced
steady increases in our Marcellus shale production, with third quarter volumes
of over 80 MMcfe per day. Additionally, we are continuing with our process to
divest a portion of our conventional shelf, state water and onshore Louisiana
properties to further strengthen our balance sheet."

Financial Results

For the third quarter of 2013, Stone reported net income of $36.1 million, or
$0.72 per share, on oil, gas, and natural gas liquids (NGLs) revenue of $255.8
million, compared to net income of $23.7 million, or $0.48 per share, on oil,
gas, and NGLs revenue of $226.7 million in the third quarter of 2012.
Discretionary cash flow totaled $166.1 million during the third quarter of
2013, as compared to $142.9 million during the third quarter of 2012. 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 2013 averaged 49.4 thousand
barrels of oil equivalent (MBoe) per day (296 million cubic feet of gas
equivalent (MMcfe) per day), compared with net daily production of 45.4 MBoe
(272 MMcfe) per day in the second quarter of 2013, and net daily production of
41.8 MBoe (251 MMcfe) per day in the third quarter of 2012. The production
mix for the third quarter of 2013 was 40% oil, 9% NGLs and 51% natural gas.
Production for the fourth quarter of 2013 is expected to decrease slightly to
approximately 42.5-45.5 MBoe (255-273 MMcfe) per day due to Williams pipeline
downtime in Appalachia during the month of October, the sale of selected
onshore Louisiana properties on October 1, 2013, downtime associated with
Tropical Storm Karen, and unplanned downtime at Ship Shoal Block 113.
However, due to positive third quarter production results, the full year
production guidance has been increased to 44.5-45.5 MBoe (267-273 MMcfe) per
day.

Prices realized during the third quarter of 2013 averaged $103.16 per barrel
of oil, $38.77 per barrel of NGLs and $3.80 per Mcf of natural gas. Average
realized prices for the third quarter of 2012 were $104.15 per barrel of oil,
$34.93 per barrel of NGLs and $3.20 per Mcf of natural gas. Effective hedging
transactions increased the average realized price of natural gas by $0.39 per
Mcf and decreased the average realized price of oil by $4.14 per barrel in the
third quarter of 2013.

Lease operating expenses (LOE) during the third quarter of 2013 totaled $54
million ($11.88 per Boe or $1.98 per Mcfe), compared to $61.0 million ($15.86
per Boe or $2.64 per Mcfe), in the third quarter of 2012.

Transportation, processing and gathering expenses during the third quarter of
2013 totaled $13.1 million ($2.88 per Boe or $0.48 per Mcfe) compared to $6.8
million ($1.76 per Boe or $0.29 per Mcfe) in the third quarter of 2012. The
increase is attributable to higher gas and NGL volumes, short term blending
fees in Appalachia and higher Gulf of Mexico pipeline fees.

Depreciation, depletion and amortization (DD&A) on oil and gas properties for
the third quarter of 2013 totaled $91.9 million ($20.23 per Boe or $3.37 per
Mcfe), compared to $88.4 million ($22.99 per Boe or $3.83 per Mcfe), in the
third quarter of 2012.

Salaries, general and administrative (SG&A) expenses (excluding incentive
compensation expense) for the third quarter of 2013 were $14.2 million ($3.12
per Boe or $0.52 per Mcfe), compared to $13.7 million ($3.56 per Boe or $0.59
per Mcfe), in the third quarter of 2012.

Capital expenditures before capitalized SG&A and interest during the third
quarter of 2013 were approximately $161.6 million, which includes $23.8
million of plugging and abandonment expenditures. Additionally, $8.6 million
of SG&A expenses and $11.9 million of interest were capitalized during the
quarter. Capital expenditures before capitalized SG&A and interest for the
first nine months of 2013 were approximately $487.6 million, which includes
$61.2 million of plugging and abandonment expenditures. Additionally, $22.6
million of SG&A expenses and $32.8 million of interest were capitalized during
the first nine months of 2013.

As of September 30 and November 4, 2013, there were no outstanding borrowings
under Stone's bank credit facility and letters of credit totaling $21.5
million had been issued pursuant to the facility, leaving $378.5 million of
availability under the bank credit facility.

Operational Update 

Mississippi Canyon 983 - San Marcos (Deep Water). The San Marcos prospect at
Mississippi Canyon 983 was spud in September. The well is currently expected
to reach a depth of 29,000 feet late in the fourth quarter of 2013 or early in
2014. Stone holds a 25% working interest in the prospect which is operated by
Apache Deepwater LLC.

Mississippi Canyon 26 - Amethyst (Deep Water). The Diamond Ocean Victory
drilling rig is being mobilized to the deep water Amethyst exploration
prospect. If successful, this well will likely be tied back to the 100%
Stone-owned Pompano platform. Stone is the operator of the well and currently
holds a 100% working interest. Target depth is 20,000 feet and the well is
estimated to take three months to drill.

Pompano Area – Cardona and Cardona South (Deep Water). Drilling on Stone's
Cardona prospect, located in Mississippi Canyon 29, is expected to commence
during the first quarter of 2014 followed by the drilling of the Cardona South
well. Stone plans to tie back both wells to the 100% owned Pompano platform
with production projected for early 2015. Stone holds a 65% working interest
in the Cardona wells and will be the operator. Each well is estimated to take
three months to drill.

Mississippi Canyon 211 – Mica Deep (Deep Water). The Mica Deep exploration
well is expected to spud in the first quarter of 2014. Stone holds a 50%
working interest in the project which is operated by ExxonMobil. The well is
expected to take 3 months to drill.

Walker Ridge 719 – Phinisi (Deep Water). The Phinisi exploration well is
projected to spud in 2014. Stone currently holds a 20% working interest in
the prospect, which is operated by Eni. The well is estimated to take four
months to drill.

Walker Ridge 89 - Goodfellow (Deep Water). The Goodfellow exploration well is
projected to spud in 2014. Stone currently holds approximately a 12.8%
working interest in the prospect, which is operated by Eni. The well is
estimated to take five months to drill.

Mississippi Canyon 555 – Guadalupe (Deep Water). The Guadalupe exploration
well is currently scheduled to spud in 2014. Stone currently holds a 40%
working interest in the prospect, which is operated by Apache Deepwater LLC.
The well is estimated to take four months to drill.

Tomcat (Deep Gas). The ENSCO 81 jack-up rig was mobilized to the deep gas
Tomcat prospect in October 2013. The well is currently drilling ahead at
3,500 feet and is expected to reach the anticipated depth of 16,125 feet in
early 2014. Stone holds a 100% working interest in the prospect.

Appalachian Basin - Marcellus Shale (Drill Program Update). Stone drilled
seven Marcellus shale wells during the third quarter of 2013, bringing the
total to 23 horizontal Marcellus shale wells drilled in 2013. By year end,
Stone expects to have drilled 28 to 30 wells and to have completed 27 to 30
wells in the Marcellus shale.

Appalachian Basin - Marcellus Shale (Production Update). During the third
quarter of 2013, Stone averaged 82 MMcfe per day (58 MMcf per day of gas and
4,000 barrels per day of liquids) from Stone's Marcellus shale position.
During the third quarter of 2013, seven new wells in the Mary field were
brought online. Stone expects to bring an additional 11 wells in the Mary
field online during the fourth quarter of 2013. During the month of October
2013, production was restricted due to downtime at the Williams pipeline;
however production is currently above previous levels.

Appalachian Basin – Upper Devonian Shale. Stone drilled an Upper Devonian
horizontal test well in the Mary field during the second quarter of 2013. The
well was drilled with a 2,450 foot lateral and completed with nine stages. The
well will be tested during the fourth quarter of 2013, with results expected
in the first quarter of 2014.

Conventional Shelf (Drill Program). A discovery was made on the Taildancer
prospect at Ship Shoal 113, with the well encountering 130 feet of net oil and
gas pay. Production from this discovery is projected to be online in the
fourth quarter of 2013. Stone is the operator with a 100% working interest.

Conventional Shelf (Potential Sale). Stone has engaged a financial advisor to
market certain properties in the Conventional Shelf, state waters, and onshore
Louisiana. Stone's Weeks Island field, which had third quarter production of
approximately 1,200 Boe per day, was sold on October 1, 2013 for approximately
$46 million. The potential sale of the remaining properties is subject to
market conditions and there is no assurance that it will be completed, in
whole or in part, or by any particular time.

2013 Guidance

Guidance for the fourth quarter and full year 2013 is shown in the table below
(updated guidance numbers are italicized and bolded). The guidance is subject
to all the cautionary statements and limitations described below and under the
caption "Forward Looking Statements."

                                                              Fourth   Full
                                                              Quarter  Year
                                                              42.5 –   44.5 –
Production - MBoe per day                                     45.5     45.5

 (MMcfe per day)                          (255 –   (267 –
                                                              273)     273)
Lease operating expenses (in millions)                                $210 -
                                                              -        $220
(excluding transportation/processing expenses)
Transportation, processing and gathering (in millions)                 $37 -
                                                                       $42
Salaries, General & Administrative expenses (in millions)     -        $55 -
                                                                       $60
(excluding incentive compensation)
                                                                       $20.40
Depreciation, Depletion & Amortization (per MBoe)             -        -
                                                                       $21.00
             $3.40 -
(per Mcfe)                                                             $3.50
Corporate Tax Rate (%)                                        -        35% -
                                                                       37%
Capital Expenditure Budget (in millions)                      -        $710
 (excluding acquisitions)



Hedge Position

The following table illustrates our derivative positions for 2013, 2014 and
2015 as of November 4, 2013:

     Fixed-Price Swaps
     NYMEX (except where noted)
     Natural Gas          Oil
     Daily                Daily
                  Swap                  Swap
     Volume               Volume
                  Price                 Price
     (MMBtus/d)           (Bbls/d)
2013 10,000       $4.000   2,000**    $92.35
2013 10,000*     4.050   1,000         92.80
2013  20,000**  4.450    2,000***   94.05
2013 10,000       5.270   1,000         94.45
2013 10,000       5.320   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       4.040   1,000         92.25
2014 10,000       4.105   1,000         93.55
2014 10,000       4.190   1,000         94.00
2014 10,000       4.250   1,000         98.00
2014 10,000       4.350   1,000         98.30
2014                       2,000***  98.85
2014                      1,000         99.65
2014                       1,000†      103.30
2015 10,000       4.005   1,000         90.00
2015 10,000       4.220
2015 10,000       4.255

 * April - December
** July – December
*** January – June
 † Brent oil contract

Other Information

Stone Energy has planned a conference call for 9:00 a.m. Central Time on
November 5, 2013 to discuss the operational and financial results for the
third quarter of 2013. 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, future financial or
operating results and the amount, and timing of any potential divestitures 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, market conditions relating to
acquisitions and divestitures 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, 337-521-2072
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,
                                 2013        2012        2013        2012
FINANCIAL RESULTS
 Net income                     $36,102     $23,659     $115,882    $105,180
 Net income per share           $0.72       $0.48       $2.32       $2.13
PRODUCTION QUANTITIES
 Oil (MBbls)                    1,809       1,736       5,243       5,289
 Natural Gas (MMcf)             13,866      10,615      35,969      31,031
 Natural gas liquids (MBbls)    425         341         1,048       794
 Oil, gas and NGLs (MBoe)       4,545       3,846       12,286      11,255
 Oil, gas and NGLs (MMcfe)      27,270      23,077      73,715      67,529
AVERAGE DAILY PRODUCTION
 Oil (MBbls)                    20          19          19          19
 Gas (MMcf)                     151         115         132         113
 Natural gas liquids (MBbls)    5           4           4           3
 Oil, gas and NGLs (MBoe)       49          42          45          41
 Oil, gas and NGLs (MMcfe)      296         251         270         246
REVENUE DATA
 Oil revenue                    $186,608    $180,806    $558,031    $564,745
 Natural Gas revenue            52,728      34,003      137,382     91,006
 Natural gas liquids revenue    16,476      11,910      36,854      35,228
 Total oil, natural gas and NGL $255,812    $226,719    $732,267    $690,979
revenue
AVERAGE PRICES
Prior to the cash settlement of
effective hedging transactions:
 Oil (per Bbl)                  $107.30     $101.81     $105.98     $106.57
 Natural Gas (per Mcf)          3.41        2.65        3.50        2.38
 Natural gas liquids (per Bbl)  38.77       34.93       35.17       44.37
 Oil, gas and NGLs (per Boe)    56.75       56.35       58.48       59.76
 Oil, gas and NGLs (per Mcfe)   9.46        9.39        9.75        9.96
Including the cash settlement of
effective hedging transactions:
 Oil (per Bbl)                  $103.16     $104.15     $106.43     $106.78
 Natural Gas (per Mcf)          3.80        3.20        3.82        2.93
 Natural gas liquids (per Bbl)  38.77       34.93       35.17       44.37
 Oil, gas and NGLs (per Boe)    56.28       58.95       59.60       61.39
 Oil, gas and NGLs (per Mcfe)   9.38        9.82        9.93        10.23
COST DATA
 Lease operating expenses       $53,986     $60,995     $157,547    $157,030
 Salaries, general and          14,201      13,673      43,351      40,521
administrative expenses
 DD&A expense on oil and gas    91,932      88,417      252,759     258,598
properties
AVERAGE COSTS
 Lease operating expenses (per  $11.88      $15.86      $12.82      $13.95
Boe)
 Lease operating expenses (per  1.98        2.64        2.14        2.33
Mcfe)
 Salaries, general and
administrative expenses (per     3.12        3.56        3.53        3.60
Boe)
 Salaries, general and
administrative expenses (per     0.52        0.59        0.59        0.60
Mcfe)
 DD&A expense on oil and gas    20.23       22.99       20.57       22.98
properties (per Boe)
 DD&A expense on oil and gas    3.37        3.83        3.43        3.83
properties (per Mcfe)
AVERAGE SHARES OUTSTANDING –     48,776      48,384      48,720      48,343
Diluted

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

                                        September 30,       September 30,
                                        2013      2012      2013      2012
 Operating revenue:
 Oil production                 $186,608  $180,806  $558,031  $564,745
 Gas production                 52,728    34,003    137,382   91,006
 Natural gas liquids           16,476    11,910    36,854    35,228
production
 Other operational income       873       678       2,659     2,520
 Derivative income, net         -         -         -         3,119
 Total operating    256,685   227,397   734,926   696,618
revenue
 Operating expenses:
 Lease operating expenses       53,986    60,995    157,547   157,030
 Transportation, processing     13,081    6,762     27,374    15,911
and gathering expenses
 Other operational expenses     237       82        382       195
 Production taxes               5,224     1,842     11,404    7,578
 Depreciation, depletion and    92,853    89,274    255,497   260,982
amortization
 Accretion expense              8,431     8,405     25,012    24,926
 Salaries, general and          14,201    13,673    43,351    40,521
administrative expenses
 Incentive compensation         4,566     67        8,047     3,907
expense
 Derivative expense, net        1,684     1,812     1,537     -
Total operating     194,263   182,912   530,151   511,050
expenses
Income from operations           62,422    44,485    204,775   185,568
Other (income) expenses:
 Interest expense               7,922     7,692     26,452    21,107
 Interest income                (1,311)   (117)     (1,543)   (227)
 Other income, net              (782)     (443)     (2,190)   (1,229)
 Loss on early extinguishment   -         -         -         -
of debt
 Other expense, net             -         -         -         -
Total other         5,829     7,132     22,719    19,651
expenses
 Net income before taxes         56,593    37,353    182,056   165,917
 Provision (benefit) for income
taxes:
 Current                        (88)      595       (10,827)  1,164
 Deferred                       20,579    13,099    77,001    59,573
 Total income       20,491    13,694    66,174    60,737
taxes
Net income                        $36,102   $23,659   $115,882  $105,180

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

                                        September 30,       September 30,
                                        2013      2012      2013      2012
Net income as reported                  $36,102   $23,659   $115,882  $105,180
Reconciling items:
Depreciation, depletion and             92,853    89,274    255,497   260,982
amortization
Deferred income tax provision           20,579    13,099    77,001    59,573
Accretion expense                       8,431     8,405     25,012    24,926
Stock compensation expense              2,717     2,529     7,583     6,800
Non-cash interest expense               4,203     3,790     12,384    9,068
Other                                   1,263     2,103     1,470     (1,450)
Discretionary cash flow                 166,148   142,859   494,829   465,079
Change in current income taxes          15,695    681       (704)     (3,240)
Settlement of asset retirement          (23,843)  (25,293)  (61,178)  (47,211)
obligations
Other working capital changes           5,537     6,246     6,563     (40,715)
Net cash provided by operating          $163,537  $124,493  $439,510  $373,913
activities

STONE ENERGY CORPORATION
CONSOLIDATED BALANCE SHEET
(In thousands)
(Unaudited)
                                                   September 30,  December 31,
                                                   2013           2012
Assets
Current assets:
 Cash and cash equivalents                 $243,075       $279,526
 Accounts receivable                       189,565        167,288
 Fair value of hedging contracts           14,423         39,655
 Current income tax receivable             10,893         10,027
 Deferred taxes                            26,350         15,514
 Inventory                                 3,843          4,207
 Other current assets                      1,439          3,626
Total current assets                 489,588        519,843
Oil and gas properties, full cost method of
accounting:
 Proved                                    7,589,153      7,244,466
 Less: accumulated depreciation,           (5,762,937)    (5,510,166)
depletion and amortization
 Net proved oil and gas properties         1,826,216      1,734,300
 Unevaluated                               576,395        447,795
Other property and equipment, net                  23,965         22,115
Fair value of hedging contracts                    5,114          9,199
Other assets, net                                  49,148         43,179
 Total assets                              $2,970,426     $2,776,431
Liabilities and Stockholders' Equity
Current liabilities:
 Accounts payable to vendors               $104,486       $94,361
 Undistributed oil and gas proceeds        42,913         23,414
 Accrued interest                          14,272         18,546
 Fair value of hedging contracts           8,261          149
 Asset retirement obligations              60,938         66,260
 Other current liabilities                 21,680         16,765
 Total current  liabilities          252,550        219,495
8 5/8% Senior Notes due 2017                       375,000        375,000
7 1/2% Senior Notes due 2022                       300,000        300,000
1 3/4% Senior Convertible Notes due 2017*          248,745        239,126
Deferred taxes                                     387,033        310,830
Asset retirement obligations                       407,712        422,042
Fair value of hedging contracts                    360            1,530
Other long-term liabilities                        26,463         36,275
Total liabilities                          1,997,863      1,904,298
Common stock                                       488            484
Treasury stock                                     (860)          (860)
Additional paid-in capital                         1,393,439      1,386,475
Accumulated deficit                                (426,917)      (542,799)
Accumulated other comprehensive income             6,413          28,833
 Total stockholders' equity                972,563        872,133
 Total liabilities and stockholders'       $2,970,426     $2,776,431
equity

*Face value of $300 million

(Logo: http://photos.prnewswire.com/prnh/20130429/MM04099LOGO)

SOURCE Stone Energy Corporation

Website: http://www.stoneenergy.com
 
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