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Here comes the hammer for Stone Energy - Restructure and selling Appalachia
Posted on 10/21/16 at 7:17 am
Posted on 10/21/16 at 7:17 am
LINK
They had been trying to sell Appalachia since June when they put a very large gas well back online after negotiations with other investors of said gas well. It had been shut in for nearly 2 years.
They've got some talented people under that roof. Will probably have another round of layoffs before the end of the year.
They had been trying to sell Appalachia since June when they put a very large gas well back online after negotiations with other investors of said gas well. It had been shut in for nearly 2 years.
They've got some talented people under that roof. Will probably have another round of layoffs before the end of the year.
Posted on 10/21/16 at 8:29 am to thegreatboudini
Damn. Didn't realize how high their Stock was in 2014 ($486) and now is down to under $10. Didn't really follow along with them. Unfortunately won't be the last company to do this because of the downturn.
Posted on 10/21/16 at 8:37 am to WavinWilly
Ehh, that was prior to the reverse split, so that would be $4.86. Still solid. They had some peaks recently but never really stuck.
Posted on 10/21/16 at 9:07 am to WavinWilly
They had a reverse split...the stock was $48 in 2014 and essentially 50 cents now
Posted on 10/21/16 at 12:04 pm to thegreatboudini
Link didnt open earlier my bad.
This post was edited on 10/21/16 at 12:07 pm
Posted on 10/21/16 at 12:40 pm to thegreatboudini
Petroquest, the other publicly traded oil & gas operator in Lafayette, did the same thing this year as a last ditch effort too. However, they just did a 4:1, and they look to have some concrete E&P plans for 2017.
Posted on 10/21/16 at 12:45 pm to ragincajun03
Yeah PQ was kind of struggling before the downturn even but somehow stone managed to tumble even further than PQ
Posted on 10/21/16 at 12:49 pm to TheIndulger
Charles Goodson is a good leader.
Posted on 10/21/16 at 1:45 pm to ragincajun03
fricking Goodson. He's a great guy. PQ smoked that ridiculous gas well near gueydan last year that is just killing it for them. Lots of good things happening there. There were some really poor business decisions made over the last 5 years at stone that are going to be the end of them, unfortunately.
Posted on 10/21/16 at 1:50 pm to thegreatboudini
how good a well was it?
Posted on 10/21/16 at 2:09 pm to Strannix
I thought it came on at 4 million a day.
Posted on 10/21/16 at 3:31 pm to GREENHEAD22
For PQ? You don't know shite about them then.
Posted on 10/21/16 at 5:05 pm to thegreatboudini
4 million as 4 in mmcf/d ?
This post was edited on 10/21/16 at 7:24 pm
Posted on 10/21/16 at 6:59 pm to GREENHEAD22
I'm going to assume 4 Million mcf/day.
You could easily verify by going on the LA DNR website and look up the well if you're that interested.
You could easily verify by going on the LA DNR website and look up the well if you're that interested.
Posted on 10/21/16 at 7:23 pm to ragincajun03
I did, they are some good wells for where they are and a company of that size.
Posted on 10/21/16 at 10:54 pm to GREENHEAD22
4 MMCFD (million standard cubic feet of gas per day) is jack squat. I think they had some 40-60 MMCFD finds a couple of years ago with some good condensate too. Maybe that flowrate is missing a zero.
Posted on 10/22/16 at 1:13 am to ragincajun03
quote:
I'm going to assume 4 Million mcf/day.
at $3/mcf, a 12 million dollar/day well would be a damn profitable well for a company valued at 75 million
This post was edited on 10/22/16 at 1:29 am
Posted on 10/22/16 at 7:13 am to TheIndulger
At 3$/mcf you're looking at $12,000 a day or $360,000 a month.
The wells earlier poster is referencing are probably the cris wells they drilled. 3-4 wells that each came on 20-40 mmcfgd with 400-700 barrels of oil per day with it. Bayou tiger had it right.
The wells earlier poster is referencing are probably the cris wells they drilled. 3-4 wells that each came on 20-40 mmcfgd with 400-700 barrels of oil per day with it. Bayou tiger had it right.
This post was edited on 10/22/16 at 7:14 am
Posted on 10/22/16 at 9:28 am to thegreatboudini
Yeah I worked up there for them. Williams was the midstream. Stone had a bad agreement with Williams. Williams would never come off the price to dehy the gas.....compression etc. I was running about 75mmcf a day when we shut it in
Packed my bags and left.
Packed my bags and left.
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