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(AFX UK Focus) 2009-10-13 13:53
BRIEF-Stone Energy increases Q3 production view
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Oct 13 (Reuters) - Stone Energy Corp:

  • REAFFIRMS BORROWING BASE, INCREASES THIRD QUARTER PRODUCTION GUIDANCE AND
    provides operational update

  • SAYS BORROWING BASE WILL REMAIN AT $425 MILLION.

  • SAYS NOW EXPECTS ITS FY 2009 AVERAGE DAILY PRODUCTION TO BE IN THE RANGE OF
    210-220 mmcfe per day

  • SAYS THIRD QUARTER OF 2009 NET DAILY PRODUCTION IS EXPECTED TO AVERAGE
    between 230-235 mmcfe

  • SAYS CASH POSITION AS OF SEPTEMBER 30, 2009 WAS APPROXIMATELY $97 MILLION

  • SAYS EXPECTS TO RAMP UP ITS HORIZONTAL DRILLING ACTIVITY IN 2010

    ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here)

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