Stone Energy Corp (SGY)

Stone Energy Corporation was incorporated in 1993 as a Delaware corporation. It is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. It has been operating in the Gulf Coast Basin since its incorporation in 1993 and has established a technical and operational expertise in this area. More recently, it has expanded its reserve base outside of the conventional shelf of the Gulf of Mexico (GOM) and into the more prolific reserve basins of the GOM deep water and Gulf Coast deep gas as well as onshore oil and gas shale opportunities, including the Marcellus Shale in Appalachia. Its current estimated proved oil and natural gas reserves are approximately 602 Bcfe. The Company's conventional shelf strategy is to apply the latest geophysical interpretation tools to identify underdeveloped properties and the latest production techniques to increase production attributable to these properties. Prior to acquiring a property, it performs a thorough geological, geophysical and engineering analysis of the property to formulate a comprehensive development plan. The Company's recent acquisition of the Pompano deep water field added approximately 102 Bcfe of estimated proved oil and natural gas reserves. The Company's current property base in the Gulf of Mexico (GOM) also contains multiple deep shelf exploration opportunities, which are defined as prospects below 15,000 feet. The Company's oil and gas operations are subject to various U.S. federal, state and local laws and regulations.