Stone Energy Corporation
| Company type | Public |
|---|---|
| NYSE: SGY | |
| Founded | 1993 |
| Founder | James Hiram Stone |
| Defunct | May 10, 2018 |
| Headquarters | 625 East Kaliste Saloom Road, , |
Key people | David H. Welch (Chairman, Chief Executive Officer & President) |
| Website | stoneenergy.com |
The Stone Energy Corporation was an American oil and gas corporation based in Lafayette, Louisiana, United States.[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, Texas–based company Talos Energy on May 10, 2018.
History
[edit]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
[edit]- ^ a b "Stone Energy Corp". Bloomberg Business. Retrieved November 13, 2015.
- ^ a b "Stone Energy Corp". MarketWatch. Retrieved November 13, 2015.
- ^ 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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