Stone Energy Corp. (SGY) Announces 2011 Oil and Gas Capital Budget
Stone Energy Corp. issued the company’s official capital budget for oil and gas operations in 2011. The budget was recently approved by the Board of Directors of Stone Energy. Stone Energy Corp. has allocated $425 million in capital for 2011 oil and gas operations. This amount is flat with the company’s 2010 expenditures. Stone Energy Corp. said that approximately 50% to 55% of the capital budget will be spent in the Gulf of Mexico. The company is active in developing the Continental shelf area of this region, and will spend the money on drilling, facilities to enable production and other…