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Stone Energy reports quarterly earnings drop

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LAFAYETTE, La. (AP) — Stone Energy Corp. in Lafayette reports second-quarter net income of $4.4 million, or 8 cents per share, on oil and gas revenue of $205.0 million, down from $39.0 million, or 78 cents per share, on oil and gas revenue of $243.5 million in the second quarter of 2013.

Earnings also were down from $25.9 million, or 52 cents per share, on oil and gas revenue of $222.6 million in the first quarter of 2014.

The Advocate reports (http://bit.ly/1qWvnf8) Stone attributed the reduced earnings to lower natural gas and natural gas liquids prices and a higher depreciation, depletion and amortization rate.

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Information from: The Advocate, http://theadvocate.com

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