Stone Energy Corporation Announces Exploration Discoveries

          Stone Energy Corporation Announces Exploration Discoveries

PR Newswire

LAFAYETTE, La., Feb. 18, 2014

LAFAYETTE, La., Feb. 18, 2014 /PRNewswire/ --Stone Energy Corporation (NYSE:
SGY) today announced exploration discoveries at its deep water Amethyst and
deep gas Tomcat prospects. Stone operates and owns a 100 percent working
interest in both discoveries.

The deep water Amethyst exploration well in Mississippi Canyon block 26
encountered approximately 90 feet of net hydrocarbon pay in one interval which
suggests acommercial discovery. Analysis of logging, coring and fluid data
confirmed the existence of natural gas, condensate and natural gas liquids in
the pay zone (an estimated yield of 60-80 barrels of liquids per million cubic
foot of natural gas). The interval has been placed safely behind pipe for a
future completion. A full evaluation, including seismic and subsurface data
integration, is needed before hydrocarbon quantities can be estimated and a
specific development plan is sanctioned. A single or multi-well tie-back to
Stone's 100 percent owned Pompano platform, located less than 5 miles from the
discovery, is a likely development option. 

The results at the deep gas Tomcat exploration prospect at West Cameron block
76 also suggest a commercial discovery with approximately 30 feet of net
hydrocarbon pay in the Camerina interval. Well log analysis, combined with
offset Camerina production history, would suggest the zone should produce rich
natural gas with approximately 60 barrels of condensate per million cubic feet
of natural gas as well as additional natural gas liquids volumes. Initial
development plans call for a tie-back to a nearby Stone operated East Cameron
block 64 production platform with production estimated to commence in second
half of 2014.

Chairman, President and Chief Executive Officer David H. Welch stated, "It is
a great start to the year to make discoveries at Amethyst and Tomcat, our two
100 percent working interest exploratoryprospects. The close proximity of
both prospects to Stone platforms should provide us with attractive
development options and enhance the economic value of the discoveries. The
knowledge and information gained from the Amethyst well will also be helpful
in evaluating our existing portfolio of prospects in the Mississippi Canyon
area where we expect to be an active player for the next several years."

The rigs remain on location at both Amethyst and Tomcat to conduct operations
to prepare the wells for future production.

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.

Stone Energyis an independent oil and natural gas exploration and production
company headquartered inLafayette, Louisianawith additional offices inNew
Orleans,HoustonandMorgantown, West Virginia. Stone is engaged in the
acquisition, exploration, and development of properties in the Deep Water Gulf
of Mexico, Appalachia, and the onshore and offshore Gulf Coast.For additional
information, contactKenneth H. Beer, Chief Financial Officer, at 337-521-2210
phone, 337-521-9880 fax or via e-mail at  CFO@StoneEnergy.com

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SOURCE Stone Energy Corporation

Website: http://www.stoneenergy.com
 
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