UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
December 8, 2014
Date of report (Date of earliest event reported)
STONE ENERGY CORPORATION
(Exact Name of Registrant as Specified in Charter)
| Delaware | 1-12074 | 72-1235413 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 625 E. Kaliste Saloom Road Lafayette, Louisiana |
70508 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (337) 237-0410
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) |
Item 7.01. Regulation FD Disclosure.
On December 8, 2014, we issued a press release providing an operational update on the Utica shale exploration well at the Pribble Pad in West Virginia. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
In accordance with General Instruction B.2 of Form 8-K, the information in this report, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information, including Exhibit 99.1, be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
| 99.1 | Press release dated December 8, 2014, “Stone Energy Corporation Announces Successful Utica Shale Exploration Well.” |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Stone Energy Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| STONE ENERGY CORPORATION | ||||||
| Date: December 8, 2014 | By: | /s/ Lisa S. Jaubert | ||||
| Lisa S. Jaubert | ||||||
| Senior Vice President, General Counsel and Secretary | ||||||
EXHIBIT INDEX
| Exhibit Number |
Description | |
| 99.1 | Press release dated December 8, 2014, “Stone Energy Corporation Announces Successful Utica Shale Exploration Well.” | |
Exhibit 99.1
STONE ENERGY CORPORATION
Announces Successful Utica Shale Exploration Well
LAFAYETTE, LA. December 8, 2014
Stone Energy Corporation (NYSE: SGY) today provided an operational update on its Utica shale exploration well at its Pribble Pad in West Virginia. The Pribble 6HU well (90% working interest) in Wetzel County, West Virginia produced from a 3,605 foot lateral at an average gas sales rate of approximately 30 Mmcf per day for the last 24 hours of a 5-day test period on a final choke size of 28/64” with 6500 psi of flowing casing pressure.
This test flow calculates to a rate of approximately 8 Mmcf per day per thousand feet of lateral length based on the total effective lateral length of 3,605 feet for the test well, one of the highest rates per thousand feet of lateral recorded for the Utica shale in the area.
“We are very excited about our successful Utica shale exploration well. The results from the Pribble 6HU well confirm the high potential of the Utica shale underlying our current liquids-rich Marcellus acreage position,” said David H. Welch, Chairman, President and Chief Executive Officer. “The production rate of 30 Mmcf per day, and certainly 8 Mmcf per day per thousand feet of lateral, is one of the highest Utica tests announced in the area. This well, along with the numerous third party Utica tests surrounding our acreage, has significantly de-risked our Utica position. We have already invested in land and infrastructure in this area due to our Marcellus shale efforts, and this previous investment should enhance our Utica returns. We have contracted a new dual-purpose Utica/Marcellus drilling rig with delivery expected in late 2015, and our Appalachian team will be establishing a development program for this exciting new play. Our Utica acreage position of almost 30,000 acres in the Mary field should allow for a multi-year development program.”
The Pribble 6HU well was completed in the Point Pleasant formation with 17 fracture stages with approximately 210 feet of spacing between each stage and approximately 375,000 pounds of proppant per stage. The Pribble 6HU was drilled to a true vertical depth of 11,350 feet.
Stone Energy is an independent oil and natural gas exploration and production company headquartered in Lafayette, Louisiana with additional offices in New Orleans, Houston and Morgantown, West Virginia. Stone is engaged in the acquisition, exploration, and development of properties in the Deep Water Gulf of Mexico, Appalachia, and the onshore and offshore Gulf Coast. For additional information, contact Kenneth H. Beer, Chief Financial Officer, at 337-521-2210 phone, 337-521-9880 fax or via e-mail at CFO@StoneEnergy.com.
Forward Looking Statements
Certain statements in this press release are forward-looking and are based upon Stone’s current belief as to the outcome and timing of future events. All statements, other than statements of historical facts, that address activities that Stone plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future, including future production of oil and gas, future capital expenditures and drilling of wells and future financial or operating results are forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include weather, the timing and extent of changes in commodity prices for oil and gas, operating risks, liquidity risks, political and regulatory developments and legislation, including developments and legislation relating to our operations in the Gulf of Mexico and Appalachia, and other risk factors and known trends and uncertainties as described in Stone’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the SEC. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Stone’s actual results and plans could differ materially from those expressed in the forward-looking statements.