Stone Energy Corporation
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The Stone Energy Corporation was an American oil and gas corporation based in
Lafayette, Louisiana Lafayette ( , ) is the most populous city in and parish seat of Lafayette Parish, Louisiana, Lafayette Parish in the U.S. state of Louisiana, located along the Vermilion River (Louisiana), Vermilion River. It is Louisiana's List of municipaliti ...
, United States. It was listed on the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
under the listing SGY. The demise of Stone Energy ultimately was the oilfield crash of 2016 which resulted in oil prices plummeting $60–75 a barrel. Stone Energy was never able to fully recover from the 2016 crash due to bad drilling decisions from 2013 to 2016 and the resulting obligations from its attempt to test the waters of deepwater drilling. Stone was predominantly known for platform acquisition and well rework, not for drilling. Stone Energy was acquired by Houston, Texas–based company Talos Energy on May 10, 2018.


History

The Stone Energy Corporation was founded by James Hiram Stone in 1993. It operated in the
Appalachian basin The geology of the Appalachians dates back more than 1.2 billion years to the Mesoproterozoic era when two continental cratons collided to form the supercontinent Rodinia, 500 million years prior to the development of the range during the form ...
and the
Gulf of Mexico The Gulf of Mexico () is an oceanic basin and a marginal sea of the Atlantic Ocean, mostly surrounded by the North American continent. It is bounded on the northeast, north, and northwest by the Gulf Coast of the United States; on the southw ...
.


References

Defunct oil companies of the United States Companies based in Lafayette, Louisiana Energy companies established in 1993 Non-renewable resource companies established in 1993 1993 establishments in Louisiana Companies listed on the New York Stock Exchange {{US-energy-company-stub