Stone hits Cardona oil

February 25, 2014

Stone Energy Corp. hit oil at its deepwater Cardona (MC 29 #4) well at Mississippi Canyon 29 in the US Gulf of Mexico, the company announced on 24 Feb 2014.

Drilling operations are underway using the ENSCO 8502 drilling rig, which Stone Energy contracted last April. The Ensco rig encountered 84ft of net oil pay. The Cardona discovery extends Mississippi Canyon 29 TB-9 well's productive zone to the north, Stone Energy says. Drilling operations are expected to complete in March. The company plans to tie the Cardona well back to its 100%-owned Pompano platform where it expects to achieve first production in 2015.

Stone Energy will next move the ENSCO 8502 rig to the Cardona South (MC 29 #5) prospect, where plans are to test the same development interval in the adjacent fault block to Mississippi Canyon 29 TB-9 well's south. The well is expected to reach total depth by 2Q 2014. There are no plans to drill an exploration tail, Stone says. If drilling operations are successful, Stone Energy will also tie Cardona South back to the Pompano platform.

In September, Stone Energy awarded Subsea 7 a US$70 million EPIC contract concerning flowlines, risers, pipeline structures, and a gas lift umbilical for the Cardona field. Offshore operations are scheduled to begin 3Q 2014.

Stone holds a 65% working interest in both Cardona wells and serves as operator.

Image: Stone Energy Corp.



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