Stone Energy Strikes Oil at Bohai Bay Well

Stone Energy says that its first well drilled in Bohai Bay, China encountered potential oil pay in two separate intervals.

The CFD No. 22-2-1 well was drilled by the operator, Kerr-McGee Corp., to a total depth of 9,065 feet. Subsequently, the operator performed drill stem testing and side wall core analyses on the well. The initial drill stem test in one of the zones indicated an average flow rate of approximately 700 barrels of oil per day.

The possible discovery is awaiting appraisal by additional well(s) to determine if it is commercial and whether development will proceed. At that time Stone will be able to determine the course of development and the type of facilities required.

As previously announced, Stone entered into an agreement to participate in the drilling of two exploratory wells on two offshore concessions in Bohai Bay, China. After drilling these two wells, Stone will have the option to earn interests in the two concessions, which collectively cover 1 million acres. The second exploratory well is expected to spud by the end of 2006.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit