The combined entity be one of the largest Gulf of Mexico-focused operating companies, with a solid production base, strong portfolio for continued development of proved and probable reserves, and an extensive inventory of exploration opportunities.
Under the terms of the agreement, Bois d'Arc Energy shareholders will receive $13.65 in cash and 0.165 shares of Stone common stock for each share of Bois d'Arc common stock.
An independent oil and gas company, Stone Energy earned $181.4 million in 2007, compared with a loss of $254.2 million in 2006 (during the fourth quarter of 2006, Stone took a $330.5 million accounting writedown).
While Stone's stock price dropped to the high 20 range in early 2007, it has since been on the rebound -- its recent high closing of $68.74 occurring Monday.
Frank’s Casing Crew, now doing business as Frank’s International, will make its final appearance on ABiz’s list of the Top 50 Privately Held Companies in Acadiana this year, and once again, it will likely be at the top with more than $1 billion in annual revenues. The 75-year-old company specializing in tubular fabrication and installation services to the oil and gas industry plans to go public this year.
The defeat, or rather highjacking of House Bill 420 in the final days of this year's Legislative Session, say Reps. Vincent Pierre and Terry Landry, is the result of the propaganda spread by one unidentified local media outlet and an unnamed former state Representative, but nothing to do with the original legislation's lack of checks, balances or details.
He’s a singer. A songwriter. A piano man. A family man. He’s even got his own Wikipedia entry. He’s David Egan. And he knows ancient secrets about the monolithic stones of Stonehenge that he’s not willing to share.