Stone Energy (SGY) Posts Mixed Q3 Results

November 7, 2016 4:31 PM EST

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Stone Energy (NYSE: SGY) reported Q3 EPS of ($7.40), $7.39 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $94.43 million versus the consensus estimate of $32.17 million.

Net daily production during the third quarter of 2016 averaged 39.1 thousand barrels of oil equivalent (MBoe) per day (235 million cubic feet of gas equivalent (MMcfe) per day), compared to net daily production of 29.0 MBoe (174 MMcfe) per day in the second quarter of 2016 and net daily production of 39.8 MBoe (239 Mcfe) per day in the third quarter of 2015. The third quarter 2016 production mix was approximately 43% oil, 38% natural gas and 19% natural gas liquids (NGLs), and included approximately 20 MBoe (123 MMcfe) per day from the Gulf of Mexico (GOM) and 19 MBoe (112 MMcfe) per day from Appalachia.

Production guidance for the fourth quarter of 2016 is estimated at 41 - 43 MBoe per day (246 - 258 MMcfe per day). This guidance assumes the Mary field is online throughout the fourth quarter of 2016 under the interim midstream agreement, with Appalachia averaging approximately 120 MMcfe – 140 MMcfe per day. Our full year production guidance has been adjusted to account for these factors as well. Our updated production guidance for fiscal year 2016 is 35 - 37 MBoe (210 - 222 MMcfe) per day.

For earnings history and earnings-related data on Stone Energy (SGY) click here.

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