Stone Energy Corporation

Lafayette, LA United States

  (NYSE: SGY)

Company Description

You can't squeeze blood from a stone, but as Stone Energy knows, you can squeeze energy. Stone Energy acquires and exploits mature oil and natural gas properties that have high potential. The company, which in 2010 reported estimated proved reserves of 473.9 billion cu. ft. of natural gas equivalent, has about 50 producing properties in the Gulf of Mexico. It has sold the bulk of its Rocky Mountain oil and gas properties in order to focus its energy on targeting reserves and production in the deep shelf and deep water areas of the Gulf of Mexico and in Appalachia. In 2010 the company had 1.2 million gross acres of undeveloped properties, of which about 88,250 are in Appalachia.