Stone Energy Update on Marcellus Gathering Deal with Williams

Stone EnergyStone Energy, an independent oil and natural gas exploration and production company (E&P) headquartered in Lafayette, Louisiana drills mainly in the Gulf of Mexico but also has a presence in the Marcellus/Utica Shale with 75,000 acres of leases. Last year Stone quit drilling in the northeast and actually shut-in part of their production due to low prices (see Stone Energy 3Q15: Shut Down 110 Mmcfe/d of Marcellus Production). As we pointed out in April, the company is in financial trouble and inching toward bankruptcy (see Stone Energy Appoints Special Liaison, Inches Toward Bankruptcy?). However, Stone has not, like some others, tipped into bankruptcy. Yet. And perhaps things are beginning to turn around for Stone. In June Stone cut a new midstream gathering agreement with Williams to return some of their shut-in Marcellus wells to full production (see Stone Energy Opens Marcellus Spigots Again; New Midstream Deal). Stone issued a production update yesterday. Part of the update addresses the Williams midstream deal–how it’s doing so far, and what to expect…

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