You can't squeeze blood from a stone, but as Stone Energy knows, you can squeeze energy. Stone Energy acquires and exploits mature oil and natural gas properties that have high potential. The company, which for 2015 reported estimated proved reserves of 342 billion cu. ft. of natural gas equivalent, has producing properties in the Gulf of Mexico. It has sold the bulk of its Rocky Mountain oil and gas properties in order to focus its energy on targeting reserves and production in the deep shelf and deep water areas of the Gulf of Mexico. In 2015 it had 1.2 million of gross acres of undeveloped properties. In late 2016 the company filed for Chapter 11 bankruptcy protection.