Stone to proceed with two Pompano tiebacks

Stone Energy Corp. has provided a drilling and production update on its deepwater Gulf of Mexico operations.

Jul 8th, 2015

Offshore staff

LAFAYETTE, Louisiana –Stone Energy Corp. has provided a drilling and production update on its deepwater Gulf of Mexico operations.  

Operations at theCardona#6 development well, located in Mississippi Canyon block 29, have been proceeding ahead of schedule and below budget, and drilling has been completed through the targeted zones.  The well encountered approximately 288 ft (87 m) of net pay in two intervals, similar to the Cardona #5 net pay of 275 ft (83 m).  Analysis of logging and pressure data confirmed the existence of oil in the pay zones. The well has been successfully cased and cemented across all productive zones, the subsea tree has been installed and completion operations have begun. 

The well will be tied into Stone’s existing Cardona subsea infrastructure, which flows into thePompano platform.  It is expected that gross production from Cardona #6 will reach about 5,000 boe/d from the lower completion by late September. The upper completion is expected to have a similar production rate and will be accessed in the future by hydraulically shifting sleeves between the upper and lower completions. 

Upon completion of the Cardona #6 well, theENSCO 8503 deepwater drilling rig will be released for approximately 60 days to receive scheduled maintenance and to be outfitted with mooring capabilities.  The rig will then be mobilized to Mississippi Canyon block 26 to finish the completion of the Amethyst discovery, of which Stone has 100% working interest. Amethyst will also be tied back to the Pompano platform, where first production is expected early in the first quarter of 2016. Following the Amethyst completion, the rig is currently projected to drill the Cardona #7 development well and the Lamprey deepwater exploration prospect. 

Stone is operator of the Pompano field with 100% interest. Stone also operates the Cardona field (65%), partnering with Hunt Petroleum (35%).

07/08/2015

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