Stone Energy Increases 2005 Capital Budget

Stone Energy announced the results of its 2005 Annual Meeting of Stockholders held on May 18, 2005 in New Orleans. At the meeting, the stockholders re-elected Robert A. Bernhard, James H. Stone and David H. Welch to serve as directors until the 2008 Annual Meeting of Stockholders. In addition to electing directors, the stockholders ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2005.

Also, the board of directors approved a revised 2005 capital spending budget of $390 million, before acquisitions and capitalized overhead costs, representing a $75 million, or 24%, increase over the prior budget of $315 million. The increase is expected to be allocated to further exploration and development on Stone's newly acquired Williston Basin acreage and its additional exploration opportunities in the Gulf of Mexico.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Financial Reporting Analyst
Expertise: Accounting
Location: Houston, TX
AP Specialist
Expertise: Accounting
Location: Alpharetta, GA
Pricing Analyst - Amarillo, TX Job
Expertise: Accounting|Budget / Cost Control|Cost Engineer
Location: Amarillo, TX
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours