Stone Energy Corp.

From Wikimarcellus

Jump to: navigation, search
Here is where some info about Stone Energy Corp. should go.
This article is still a stub and needs your attention. It does
not have a template and contains minimal information. Please dive
in and help it grow!

Stone Energy Corp. of Lafayette, La. was reported in September, 2008 to have drilled one well in the Deleware River Basin. The company is expecting to fracture its well in the forth quarter of 2008.

In November, 2008 it was reported Stone had the one and only well drilled so far in Wayne County, Pennsylvania, although both Chesapeake Energy and Cabot Oil and Gas Corp. have also been very active leasing drilling rights in the that county. It is unknown whether this is the same well as referred to above. This report came from an unrelated source.

A January, 2009 report from yet another source indicated that Stone had drilled a well on the Matoushek property in Wayne County which had been capped in June, 2008. It is also unknown whether this well is the same one already mentioned. In March, 2009 there was still an additional report that drilling had been shut down on a well in the summer of 2008, because it lacked a permit from the Delaware River Basin Commission to operate. It is located in the Wayne County township of Clinton. All of these reports probably refer to the same well since Wayne County remains the focal point of each news item. The information came to light as part of a proposed settlement with the Commission and Stone's subsequent application to use 21 million gallons of water over a 30-day period from the West Branch of the Lackawaxen River.

In February, 2009 the company announced that in 2008 it had drilled two Marcellus shale wells in which it owns a 50% interest. The combined production from both wells is just over 500 Mcf/d. According to the same report, its net acreage position is 30,000 net acres, and the company will drill up to six Marcellus wells during 2009. Most of the company's activity will be in West Virginia. Some drilling is also planned for Pennsylvania.

  • David Welch is Stone's CEO.
  • Kenneth H. Beer is its CFO.
Personal tools