-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FOwBAYlbxUehynXB08TU7shGFqQOZDCMU7FsORP/yDiW4cKEVx+TkvxAfbavCF+a
 HmPRyah/XOV+BjBi4w7tig==

<SEC-DOCUMENT>0000904080-03-000069.txt : 20030822
<SEC-HEADER>0000904080-03-000069.hdr.sgml : 20030822
<ACCEPTANCE-DATETIME>20030822180037
ACCESSION NUMBER:		0000904080-03-000069
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030820
FILED AS OF DATE:		20030822

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STONE JAMES HIRAM
		CENTRAL INDEX KEY:			0001185710

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12074
		FILM NUMBER:		03863248

	BUSINESS ADDRESS:	
		STREET 1:		909 POYDRAS ST
		STREET 2:		STE 2650
		CITY:			NEW ORLEANS
		STATE:			LA
		ZIP:			70112
		BUSINESS PHONE:		5045817766

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STONE ENERGY CORP
		CENTRAL INDEX KEY:			0000904080
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				721235413
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		625 E KALISTE SALOOM RD
		CITY:			LAFAYETTE
		STATE:			LA
		ZIP:			70508
		BUSINESS PHONE:		3182370410

	MAIL ADDRESS:	
		STREET 1:		625 E KALISTLE SALOOM RD
		CITY:			LAFAYETTE
		STATE:			LA
		ZIP:			70508
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4stoneaug19-03_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-08-20</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000904080</issuerCik>
        <issuerName>STONE ENERGY CORP</issuerName>
        <issuerTradingSymbol>SGY</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001185710</rptOwnerCik>
            <rptOwnerName>STONE JAMES HIRAM</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>909 POYDRAS ST</rptOwnerStreet1>
            <rptOwnerStreet2>STE 2650</rptOwnerStreet2>
            <rptOwnerCity>NEW ORLEANS</rptOwnerCity>
            <rptOwnerState>LA</rptOwnerState>
            <rptOwnerZipCode>70112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-08-20</value>
            <footnoteId id="F1"/>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>8000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>20.31</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1079234</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-01-01</value>
            <footnoteId id="F2"/>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F2"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
            <footnoteId id="F2"/>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>3810</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>Held by Son</value>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-01-01</value>
            <footnoteId id="F2"/>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F2"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
            <footnoteId id="F2"/>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>3810</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>Held by Daughter</value>
            <footnoteId id="F3"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-01-01</value>
            <footnoteId id="F2"/>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F2"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
            <footnoteId id="F2"/>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>192950</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See note</value>
            <footnoteId id="F4"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-01-01</value>
            <footnoteId id="F2"/>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F2"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
            <footnoteId id="F2"/>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>81168</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See note</value>
            <footnoteId id="F5"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Employee Stock Option (Right to Buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>32.96</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2002-12-06</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F2"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
            <footnoteId id="F2"/>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-12-06</value>
            <footnoteId id="F6"/>
      </exerciseDate>
      <expirationDate>
         <value>2012-12-06</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>40000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>40000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Employee Stock Option (Right to Buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>58.156</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2000-05-18</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F2"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
            <footnoteId id="F2"/>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2001-05-18</value>
            <footnoteId id="F6"/>
      </exerciseDate>
      <expirationDate>
         <value>2010-05-18</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>50000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>50000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Employee Stock Option (Right to Buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>20.313</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-08-21</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>8000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>20.31</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>1997-08-20</value>
            <footnoteId id="F6"/>
      </exerciseDate>
      <expirationDate>
         <value>2006-08-20</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>24000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>16000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Partial exercise of stock options.</footnote>

      <footnote id="F2"> Information such as &quot;January 1, 2003,&quot;&quot;A&quot;and &quot;0&quot;is provided although no activity for this holding.</footnote>

      <footnote id="F3"> By James H. Stone Interest Partnership, disclaims beneficial ownership of 59, 226 shares.</footnote>

      <footnote id="F4"> By James H. Stone Interest II Partnership, disclaims beneficial ownership of 16,234 shares.</footnote>

      <footnote id="F5"> By Stone Family Fund LLC, represents 4% beneficial interest in shares held by LLC.</footnote>

      <footnote id="F6"> Exercisable in annual increments of 20% beginning on the first anniversary of the date of grant.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>James H. Stone</signatureName>
      <signatureDate>2003-08-22</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----