Stone Energy 2013 Plans: Spend 33% of Budget on Marcellus
Stone Energy, an independent driller, released its 2013 capital budget yesterday. Stone plans to spend $650 million in 2013, with a full one-third of that (33%) allocated to drilling in West Virginia’s Marcellus Shale. According to the announcement, Stone will use one horizontal drilling rig in the Marcellus next year to drill 26-32 new wells.
The Stone Energy announcement: