Stone Energy Corporation
TypePublic
NYSE: SGY
Founded1993
FounderJames Hiram Stone
DefunctMay 10, 2018
Headquarters625 East Kaliste Saloom Road,
Lafayette, Louisiana
,
United States
Key people
David H. Welch (Chairman, Chief Executive Officer & President)
Websitestoneenergy.com

The Stone Energy Corporation was an American oil and gas corporation based in Lafayette, Louisiana, USA.[1] It was listed on the New York Stock Exchange under the listing SGY.[1] The demise of Stone Energy ultimately was the oilfield crash of 2016 which resulted in oil prices plummeting 60-$75 a barrel. Stone Energy was never able to fully recover from the 2016 crash due to bad drilling decisions from 2013 to 2016 and the resulting obligations from its attempt to test the waters of deepwater drilling. Stone was predominantly known for platform acquisition and well rework, not for drilling.

Stone Energy was acquired by Houston, TX based company Talos Energy on May 10, 2018.

History

The Stone Energy Corporation was founded by James Hiram Stone in 1993.[2][3] It operated in the Appalachian basin and the Gulf of Mexico.[2]

References

  1. 1 2 "Stone Energy Corp". Bloomberg Business. Retrieved November 13, 2015.
  2. 1 2 "Stone Energy Corp". MarketWatch. Retrieved November 13, 2015.
  3. ↑ Quillen, Kimberly (January 15, 2008). "James Stone, founder of Stone Energy, dies". The Times-Picayune. New Orleans, Louisiana. Retrieved November 13, 2015.



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