8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 22, 2004

STONE ENERGY CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware (State or Other Jurisdiction of Incorporation of Organization)	1-12074 (Commission File Number)	72-1235413 (I.R.S. Employer Identification No.)
625 E. Kaliste Saloom Road Lafayette, Louisiana (Address of Principal Executive Offices)		70508 (Zip Code)

Registrant’s telephone number, including area code: (337) 237-0410

Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

     (c) Exhibits.

Exhibit
No.	Description
99.1	Press Release dated June 22, 2004, “Stone Energy Corporation Announces Production Update and Additional Hedges”

Item 9. REGULATION FD DISCLOSURE

     The registrant issued a press release dated June 22, 2004, which is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

     In accordance with General Instruction B.2 of Form 8-K, the foregoing information, including Exhibit 99.1, shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, Stone Energy Corporation has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	STONE ENERGY CORPORATION
Date: June 23, 2004	By:	/s/ James H. Prince
		James H. Prince
		Executive Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Press Release dated June 22, 2004, “Stone Energy Corporation Announces Production Update and Additional Hedges”

EX-99.1

Exhibit 99.1

STONE ENERGY CORPORATION

Announces Production Update and Additional Hedges

NYSE—SGY
LAFAYETTE, LA. June 22, 2004

     Stone Energy today announced that it will begin posting on its Web site (http://www.stoneenergy.com) estimates of average daily production volumes for each month on a historical basis for the remainder of 2004. The estimate will be available approximately twenty (20) days following the end of the month. Average daily production rate estimates for April and May are approximately 263 MMcfe, which is flat with first quarter 2004 average daily production.

     Stone Energy Corporation also announced that production from South Pelto Block 22 has reached stabilized producing rates. Preliminary estimates for this new field indicated primarily natural gas production; however, the initial completions are generating primarily oil production. Two wells in the field are flowing at a combined stabilized gross daily rate of approximately 2,000 barrels of oil and 5.3 MMcf of natural gas. The third well will be re-completed within the next seven to ten days to an up-hole zone after depletion of the first of six pay zones logged productive in the well. Stone has a 50% working interest and 40.7% net revenue interest in these wells before adjustment for royalty relief.

     A portion of Stone Energy’s expected 2005 gas production volumes from the Gulf of Mexico has been hedged with zero-premium collars. The collars effectively hedge 20,000 MMBtu per day at a floor price of $4.00 per MMBtu and a ceiling price of $13.50 per MMBtu and an additional 20,000 MMBtu per day at a floor price of $4.50 per MMBtu and a ceiling price of $10.25 per MMBtu. Both contracts begin January 2005 and extend through December 2005. The contract settlements are based on an average of NYMEX prices for the last three days of a respective contract month. The contracts require a monthly payment to the counterparty if the average settlement price is above the ceiling price or a payment from the counterparty if the average settlement price is below the floor price.

     Stone Energy is an independent oil and gas company headquartered in Lafayette, Louisiana, and is engaged in the acquisition and subsequent exploitation, development and operation of oil and gas properties located in the Gulf Coast Basin and Rocky Mountains. For additional information, contact James H. Prince, Chief Financial Officer, at 337-237-0410-phone, 337-237-0426-fax or via e-mail at princejh@StoneEnergy.com.

     Certain statements in this press release are forward-looking and are based upon Stone Energy’s current belief as to the outcome and timing of future events. All statements, other than statements of historical facts, that address activities that Stone Energy plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future, including future production of oil and gas, future capital expenditures and drilling of wells and future financial or operating results, are forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include the timing and extent of changes in commodity prices for oil and gas, operating risks and other risk factors as described in Stone Energy’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Stone Energy’s actual results and plans could differ materially from those expressed in the forward-looking statements.