Scandinavian Oil-Gas Magazinehttp://www.scandoil.com/moxie-bm2/news/stone-energy-to-sell-non-core-gom-shelf-properties.shtmlStone Energy to sell non-core GOM shelf propertiesStone Energy Corporation has signed a definitive agreement to sell its non-core Gulf of Mexico (GOM) conventional shelf properties to
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Edit page New page Hide edit links Stone Energy Corporation has signed a definitive agreement to sell its non-core Gulf of Mexico (GOM) conventional shelf properties to Talos Energy Offshore LLC for $200 million in cash and assumed future undiscounted abandonment liabilities estimated at approximately $117 million. These properties represented production volumes of approximately 57 MMcfe per day for the first quarter of 2014 (58% natural gas). The estimated proved reserves associated with these properties represented approximately 9% of Stone's year end 2013 estimated proved reserves. Stone will retain an option for a 50% working interest in the deep drilling rights on the properties. |