U.S. independent Stone Energy reports that its deepwater Cardona development in the Gulf of Mexico is ahead of schedule and now expected to begin initial production by Dec. 1, 2014, only six months after drilling the Cardona South well.

The company says it estimates gross production will reach about 12,000 boe/d from the two wells in Mississippi Canyon Block 29, in which it has a 65% working interest as operator.

Also in the US Gulf the company’s Amethyst deepwater project in MC 26 is also progressing, with long lead-time items ordered and production expected by mid-2016. Amethyst will be produced via a 5-mile single well tieback to the Pompano platform in Viosca Knoll Block 989, with Stone owning and operating a 100% stake in both Amethyst and Pompano. A platform rig for Pompano is expected to be secured and available in late 2015, with up to five wells to be drilled.

Production results from Amethyst, which hit approximately 27 m (90 ft) of net hydrocarbon pay, will also assist in the evaluation of Stone’s nearby Derbio prospect.

Regarding rig commitments, it said, progress has been made on securing a multi-year deepwater rig contract starting mid-2015, as well as securing a platform rig for the deepwater Amberjack platform program, which is expected to start in the first quarter of next year. Amberjack lies in MC 109 and is expected to see between four and six development wells drilled.

As a result of various drilling successes both offshore and in its US unconventionals plays, follow-up development activity and its move into the Madison prospect (see end of story), the company’s Board of Directors authorized an increase in the 2014 capital expenditure budget from US $825 million to $895 million.

Other exploration-related activity for Stone includes likely wildcat wells on the deepwater Harrier prospect in MC 118 in early 2015, in which it holds a 37% interest in the ConocoPhillips-operated probe, and another on the Goodfellow deepwater prospect in Walker Ridge Block 89. The latter well will target the Lower Tertiary trend and is also projected to spud early next year, with Stone holding a 13% stake in the Eni-operated prospect.

  • Stone has also taken a 40% interest in a deepwater US Gulf of Mexico prospect operated by Noble Energy, with drilling expected to get underway during the fourth quarter of this year. The company revealed its acquisition of the stake in the Madison prospect in Mississippi Canyon Block 479.
Offshore