LAFAYETTE, LA (AP) — Lafayette-based Stone Energy reports a second-quarter loss of $152.9 million, or $2.77 per share, compared to $4.4 million, or 8 cents per share, a year ago.
However, those results included a $224.3 million write-down of the company's oil and gas properties because of lower prices. Without that charge, Stone lost $9.4 million, or 17 cents per share.
Stock analysts surveyed by Zacks Investment Research expected a loss of 10 cents per share.
- Sponsors -
Chairman, President and CEO David Welch tells The Advocate the company will restrict most of its spending to deep-water projects.
- Partner Content -
