LAFAYETTE, La., Aug. 9, 2012 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today provided an update on the deep water Parmer prospect located on Green Canyon Block 823. Drilling operations have been completed, and the rig has been released. The well has been logged, and pressure readings and fluid samples have been taken in several Miocene objective sands. The data indicates approximately 240 feet of net condensate-rich gas pay in two gas sands that are full to base, as well as 40 feet of net oil pay in two sands that both encountered oil on water. The partners plan to analyze the data from this well and develop a plan forward. Stone holds a 35% working interest in the project, and Apache Corporation is the operator.
Stone Energy Corporation Provides Update On Parmer Prospect
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.