- Stone Energy (SGY) -2.4% premarket after announcing its San Marcos prospect in the Gulf of Mexico failed to find commercial hydrocarbons and will be plugged and abandoned.
- San Marcos had been a sizeable catalyst for SGY, with gross resource potential of 10M-100M boe from the Miocene, but probability of success had been estimated at only 35%-40%.
- The rest of SGY's deepwater operated program appears to be progressing as planned.
Stone Energy -2.4% as San Marcos prospect disappoints
Dec 31 2013, 07:44 ET