Click here to close now.

Welcome!

.NET Authors: Carmen Gonzalez, Elizabeth White, Liz McMillan, Greg O'Connor, Jason Bloomberg

News Feed Item

Stone Energy Corporation Announces Third Quarter 2012 Results

LAFAYETTE, La., Nov. 6, 2012 /PRNewswire/ -- Stone Energy Corporation (NYSE: SGY) today announced financial and operational results for the third quarter of 2012 and provided updated guidance.  Some of the highlights include:

  • Produced an average of 41.8 MBoe (251 MMcfe) per day during the third quarter of 2012, which represents an 18% increase when compared to the third quarter of 2011.  The volumes were impacted by shut-ins due to Hurricane Isaac. Average production for October was approximately 42.6 MBoe (255 MMcfe) per day.
  • Brought the second La Cantera delineation well on line in September. Current net production from the two well field is approximately 13 MMcf of gas, 600 Bbls of NGLs and 260 Bbls of oil per day (18 MMcfe per day, net).
  • Entered into a joint venture deal with Conoco on four deep water Gulf of Mexico prospects.
  • BOEM awarded Stone and its partners 23 high bid leases from the June 2012 lease sale.
  • Reached total depth on the Parmer deep water appraisal well and encountered approximately 240 net feet of gas pay in a new zone.
  • Drilled 17 wells and completed 21 wells in the condensate rich Mary and Heather fields in the Marcellus shale during the first nine months of 2012. Current net daily production is approximately 53 MMcfe in Appalachia. In late October, some drilling, completion, and facility operations were suspended in this area due to Hurricane Sandy.
  • On October 23, 2012, agreed to issue $300 million 7.50% Senior Notes due 2022 and tendered for the $200 million 2014 Notes.

Chairman, President and Chief Executive Officer David Welch stated, "Production showed quarterly and annual growth despite temporary shut-ins due to Hurricane Isaac.  Incremental volumes from Appalachia and the additional 25% working interest purchased at the Pompano field spurred this quarterly growth.  We brought on line the second La Cantera well in late September which should help boost volumes in the fourth quarter.  We are very excited about our deep water joint venture arrangement with Conoco on four deep water prospects which allows us to share risk while maintaining material upside in these prospects. The final awarding of 23 blocks from the June 2012 lease sale further strengthens our deep water leasehold position.  In our Parmer deep water well, we encountered encouraging liquids rich gas zones and will be further evaluating the project with our partners. Finally, in late October we agreed to issue $300 million 7.50% Senior Notes due 2022 to retire our 2014 Notes and extend our debt maturity and provide additional flexibility."

Financial Results

For the third quarter of 2012, Stone reported net income of $23.7 million, or $0.48 per share, on oil, gas, and natural gas liquids (NGLs) revenue of $226.7 million, compared to net income of $51.8 million, or $1.06 per share, on oil, gas, and NGL revenue of $209.3 million in the third quarter of 2011.  Discretionary cash flow totaled $142.8 million during the third quarter of 2012, as compared to $160.0 million during the third quarter of 2011. Please see "Non-GAAP Financial Measures" and the accompanying financial statements for a reconciliation of discretionary cash flow, a non-GAAP financial measure, to net cash flow provided by operating activities.  

Net daily production during the third quarter of 2012 averaged 41.8 thousand barrels of oil equivalent (MBoe) per day (251 million cubic feet of gas equivalent (MMcfe) per day), compared with net daily production of 40.5 MBoe (243 MMcfe) per day in the second quarter of 2012, and net daily production of 35.4 MBoe (213 MMcfe) per day in the third quarter of 2011.  The production mix for the third quarter of 2012 was 45% oil, 9% NGLs and 46% natural gas.   

Prices realized during the third quarter of 2012 averaged $104.15 per barrel of oil, $34.93 per barrel of NGLs and $3.20 per Mcf of natural gas.  Average realized prices for the third quarter of 2011 were $103.51 per barrel of oil, $60.81 per barrel of NGLs and $4.48 per Mcf of natural gas. Effective hedging transactions increased the average realized price of natural gas by $0.55 per Mcf and increased the average realized price of oil by $2.34 per barrel in the third quarter of 2012. 

Lease operating expenses (LOE) during the third quarter of 2012 totaled $61.0 million ($15.86 per Boe or $2.64 per Mcfe), compared to $46.6 million ($14.29 per Boe or $2.38 per Mcfe), in the third quarter of 2011.  The increase in the quarter was primarily due to high seasonal major maintenance costs, added expense from Hurricane Isaac and incremental LOE from the acquired Pompano field.

Depreciation, depletion and amortization (DD&A) on oil and gas properties for the third quarter of 2012 totaled $88.4 million ($22.99 per Boe or $3.83 per Mcfe), compared to $63.8 million ($19.55 per Boe or $3.26 per Mcfe), in the third quarter of 2011.

Salaries, general and administrative (SG&A) expenses (excluding incentive compensation expense) for the third quarter of 2012 were $13.7 million ($3.56 per Boe or $0.59 per Mcfe), compared to $7.2 million ($2.19 per Boe or $0.37 per Mcfe), in the third quarter of 2011.  The third quarter of 2011 had a one-time positive insurance adjustment which reduced the SG&A reported expenses for the period.

Capital expenditures before capitalized SG&A and interest during the third quarter of 2012 were approximately $141.0 million, which includes $25.3 million of plugging and abandonment expenditures.  Additionally, $5.5 million of SG&A expenses and $9.5 million of interest were capitalized during the quarter. Capital expenditures before capitalized SG&A and interest for the first nine months of 2012 were approximately $438 million, which includes $47 million of plugging and abandonment expenditures.  Additionally, $17.7 million of SG&A expenses and $27.7 million of interest were capitalized during the first nine months of 2012.

As of September 30, 2012, we had no outstanding borrowings under our bank credit facility and letters of credit totaling $21.0 million had been issued pursuant to the facility, leaving $379.0 million of availability under the facility.   On October 22, 2012, our borrowing base was reaffirmed at $400 million.

On October 23, 2012, we priced an offering of $300 million in aggregate principal amount of 7.50% Senior Notes due 2022 (Senior Notes).  The Senior Notes were offered at a price equal to 98.277% of the principal amount thereof, resulting in a yield to maturity of 7.75%.  Stone expects to close the sale of the Senior Notes on November 8, 2012, subject to the satisfaction of customary closing conditions.  Stone intends to use the net proceeds from the offering to fund its pending tender offer and consent solicitation for its existing $200 million 6.75% Senior Subordinated Notes due 2014 and the redemption of any notes not tendered and for general corporate purposes.  The early tender and consent solicitation expired on November 5, 2012 at 5:00 p.m. eastern standard time with approximately $136.1 million tendered.

Operational Update

La Cantera (Deep Gas).  The second well (Broussard #2) at the La Cantera deep gas field located in Vermilion Parish, Louisiana commenced production on September 18, 2012.  The well is currently producing at an average net rate of 9 MMcf of gas per day, 400 barrels of NGLs per day and 170 barrels of condensate per day. The Thibodeaux #1 well and the Broussard #2 well are currently producing at a combined average daily net rate of approximately 13 MMcf of gas, 600 barrels of NGLs and 260 barrels of oil.  A third well has been proposed and is expected to be drilled in the first half of 2013.  Stone holds an approximate 34.5% working interest in this project.

Upper Mississippi Canyon Joint Venture.  Stone entered into an Exploration Agreement with ConocoPhillips Company ("Conoco") covering four deep water prospects in the Mississippi Canyon / Viosca Knoll areas. This agreement provides Conoco with an option to participate in four deep water prospects. Stone and Conoco were successful in acquiring six blocks in the Outer Continental Shelf Sale 216/222 held in June 2012.  

Lease Sale Results. The Bureau of Ocean Energy Management (BOEM) awarded Stone and its partners leases on 23 offshore blocks from the June 2012 Gulf of Mexico lease sale. These blocks include De Soto Canyon 448, 492, 493, 851 & 895; East Cameron 63; Green Canyon 354, 647, 691, 692, & 821; Mississippi Canyon 205, 206, 554, 555, 900, 901, & 983; Viosca Knoll 865, 907, 909, & 952; and West Cameron 175.  The BOEM rejected three of Stone's apparent high bids due to insufficient consideration.

Green Canyon 823/867 – Parmer (Deep Water). Drilling operations for the Parmer appraisal well were completed during the third quarter of 2012. The well found approximately 240 net feet of condensate-rich gas pay in two gas sands that are full to base, as well as 40 net feet of oil pay in two sands that both encountered oil on water. After selling down a promoted 15% interest, Stone holds a 35% working interest in the prospect which includes Apache (35% – operator) and Ecopetrol America (30%). Plans for future development are currently being evaluated.

Walker Ridge 719 – Phinisi (Deep Water). The deep water Phinisi exploration well is currently scheduled to spud in the second quarter of 2013. Stone holds a 20% working interest in the prospect which is operated by ENI.

Appalachian Basin (Marcellus Shale).  Current net production from the Mary, Heather, Buddy and Katie fields in the Marcellus shale is approximately 53 MMcfe per day.  Production increased with the initiation of production from the 7-well Potts pad at our Mary field in August 2012.  Drilling continues in the condensate and NGL rich Mary and Heather fields in West Virginia with a total of 17 horizontal wells drilled year to date.  Additionally, Stone has fracture-stimulated 21 wells in its Mary field this year.  Stone has drilled a total of 59 horizontal wells in the Marcellus Shale and is currently producing from 35 wells. Production from the 6-well Weekly pad and 3-well Maury pad is expected to begin during the fourth quarter of 2012 (all located in the Mary field).  Stone expects to drill 25 horizontal wells and complete 24 to 28 wells in the Mary and Heather fields during 2012. 

Conventional Shelf.  The Pounder well in the Ship Shoal 113 field commenced production on August 6, 2012. Current net production is approximately 1,300 barrels of oil per day.  Stone's Calico Bass prospect was unsuccessful and has been abandoned.

2012 Guidance

Guidance for the fourth quarter and full year 2012 has been updated (updated guidance numbers are italicized and bolded) and is shown in the table below. The guidance is subject to all the cautionary statements and limitations described below under the caption "Forward Looking Statements."


Fourth Quarter


Full Year





Production - MBoe per day

                   (MMcfe per day)

42.5 – 45

(255– 270)


42 – 42.5

(250 – 255)





Lease operating  expenses (in millions)

(excluding transportation/processing expenses)

-


$210 - $215





Transportation, processing and gathering (in millions)

-


$22 - $26





Salaries, General & Administrative expenses (in millions)

-


$52 - $55

(excluding incentive compensation)




Depreciation, Depletion & Amortization (per Boe)

-


$22.20 - $23.70

                                                           (per Mcfe)



$3.70 - $3.95





Corporate Tax Rate (%)

-


36% - 37%





Capital Expenditure Budget (in millions)

  (excluding material acquisitions)

-


$625

                

Hedge Position

The following table illustrates our derivative positions for 2012, 2013, 2014 and 2015 as of November 6, 2012: 


Fixed-Price Swaps


NYMEX (except where noted)


Natural Gas


Oil


Daily

Volume

(MMBtus/d)


Swap

Price


Daily

Volume

(Bbls/d)


Swap

Price









2012

10,000


$5.035


1,000


$90.30

2012

10,000


5.040


1,000


90.41

2012

10,000


5.050


1,000


90.45

2012





1,000


95.50

2012





2,000


97.60

2012





1,000


98.15

2012





1,000


100.00

2012





1,000


101.55

2012





1,000


104.25

2012





 1,000*


111.02

2013

10,000


4.000


1,000


92.80

2013

10,000


5.270


    2,000 **


94.05

2013

10,000


5.320


1,000


94.45

2013





1,000


94.60

2013





1,000


97.15

2013





1,000


101.53

2013





1,000


103.00

2013





1,000


103.15

2013





1,000


104.25

2013





1,000


104.47

2013





1,000


104.50

2013





 1,000*


107.30

2014

10,000


4.000


1,000


90.06

2014

10,000


4.250


1,000


93.55

2014





1,000


98.00

2014





1,000


98.30

2014





1,000


99.65

2014





 1,000*


103.30

2015

10,000


4.005


1,000


90.00









* Brent oil contract








 ** January through June








Other Information

Stone Energy has planned a conference call for 10:00 a.m. Central Time on Wednesday, November 7, 2012 to discuss the operational and financial results for the third quarter of 2012. Anyone wishing to participate should visit our website at www.StoneEnergy.com for a live web cast or dial 1-877-228-3598 and request the "Stone Energy Call."  If you are unable to participate in the original conference call, a replay will be available immediately following the completion of the call on Stone Energy's website.  The replay will be available for one month.

Non-GAAP Financial Measures

In this press release, we refer to a non-GAAP financial measure we call "discretionary cash flow."  Management believes discretionary cash flow is a financial indicator of our company's ability to internally fund capital expenditures and service debt.  Management also believes this non-GAAP financial measure of cash flow is useful information to investors because it is widely used by professional research analysts in the valuation, comparison, rating and investment recommendations of companies in the oil and gas exploration and production industry. Discretionary cash flow should not be considered an alternative to net cash provided by operating activities or net income, as defined by GAAP.  Please see the "Reconciliation of Non-GAAP Financial Measure" for a reconciliation of discretionary cash flow to cash flow provided by operating activities.

Forward Looking Statements

Certain statements in this press release are forward-looking and are based upon Stone'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 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, liquidity risks, political and regulatory developments and legislation, including developments and legislation relating to our operations in the Gulf of Mexico and Appalachia, and other risk factors and known trends and uncertainties as described in Stone's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the SEC. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Stone's actual results and plans could differ materially from those expressed in the forward-looking statements.

Estimates for Stone's future production volumes are based on assumptions of capital expenditure levels and the assumption that market demand and prices for oil and gas will continue at levels that allow for economic production of these products. The production, transportation and marketing of oil and gas are subject to disruption due to transportation and processing availability, mechanical failure, human error, hurricanes and numerous other factors.  Stone's estimates are based on certain other assumptions, such as well performance, which may vary significantly from those assumed. Delays experienced in well permitting could affect the timing of drilling and production. Lease operating expenses, which include major maintenance costs, vary in response to changes in prices of services and materials used in the operation of our properties and the amount of maintenance activity required.  Estimates of DD&A rates can vary according to reserve additions, capital expenditures, future development costs, and other factors. Therefore, we can give no assurance that our future production volumes, lease operating expenses or DD&A rates will be as estimated.

Stone Energy is an independent oil and natural gas exploration and production company headquartered in Lafayette, Louisiana with additional offices in New Orleans, Houston and Morgantown, West Virginia. Our business strategy is to leverage cash flow generated from existing assets to maintain relatively stable GOM shelf oil production, profitably grow gas reserves and production in price-advantaged basins such as Appalachia and the Gulf Coast Basin, and profitably grow oil reserves and production in material impact areas such as the deep water GOM and onshore oil.  For additional information, contact Kenneth H. Beer, Chief Financial Officer, at 337-521-2210 phone, 337-521-9880 fax or via e-mail at [email protected].


STONE ENERGY CORPORATION


SUMMARY STATISTICS


(In thousands, except per share/unit amounts)


(Unaudited)












Three Months Ended

September 30,


Nine Months Ended

September 30,



2012


2011


2012


2011


FINANCIAL RESULTS









Net income

$23,659


$51,821


$105,180


$148,809


Net income per share

$0.48


$1.06


$2.13


$3.04











PRODUCTION QUANTITIES









  Oil (MBbls)

1,736


1,521


5,289


4,804


  Natural Gas (MMcf)

10,615


9,544


31,031


29,025


  Natural gas liquids (MBbls)

341


149


794


429


  Oil, gas and NGLs (MBoe)

3,846


3,261


11,255


10,071


  Oil, gas and NGLs (MMcfe)

23,077


19,564


67,529


60,423











AVERAGE DAILY PRODUCTION









  Oil (MBbls)

19


17


19


18


  Gas (MMcf)

115


104


113


106


  Natural gas liquids (MBbls)

4


2


3


2


  Oil, gas and NGLs (MBoe)

42


35


41


37


  Oil, gas and NGLs (MMcfe)

251


213


246


221











REVENUE DATA









  Oil revenue 

$180,806


$157,436


$564,745


$484,788


  Natural Gas revenue

34,003


42,771


91,006


131,815


  Natural gas liquids revenue

11,910


9,060


35,228


25,290


  Total oil, natural gas and NGL revenue

$226,719


$209,267


$690,979


$641,893











AVERAGE PRICES









Prior to the cash settlement of effective hedging transactions:









  Oil (per Bbl)

$101.81


$105.67


$106.57


$106.34


  Natural Gas (per Mcf)

2.65


4.00


2.38


4.09


  Natural gas liquids (per Bbl)

34.93


60.81


44.37


58.95


  Oil, gas and NGLs (per Boe)

56.35


63.78


59.76


65.04


  Oil, gas and NGLs (per Mcfe)

9.39


10.63


9.96


10.84


Including the cash settlement of effective hedging transactions:









  Oil (per Bbl)

$104.15


$103.51


$106.78


$100.91


  Natural Gas (per Mcf)

3.20


4.48


2.93


4.54


  Natural gas liquids (per Bbl)

34.93


60.81


44.37


58.95


  Oil, gas and NGLs (per Boe)

58.95


64.17


61.39


63.74


  Oil, gas and NGLs (per Mcfe)

9.82


10.70


10.23


10.62











COST DATA









  Lease operating expenses

$60,995


$46,591


$157,030


$130,486


  Salaries, general and administrative

  expenses

13,673


7,151


40,521


29,494


  DD&A expense on oil and gas

  properties

88,417


63,757


258,598


201,934











AVERAGE COSTS









  Lease operating expenses (per Boe)

$15.86


$14.29


$13.95


$12.96


  Lease operating expenses (per Mcfe)

2.64


2.38


2.33


2.16


  Salaries, general and administrative

  expenses (per Boe)

3.56


2.19


3.60


2.93


  Salaries, general and administrative

  expenses (per Mcfe)

0.59


0.37


0.60


0.49


  DD&A expense on oil and gas properties

  (per Boe)

22.99


19.55


22.98


20.05


  DD&A expense on oil and gas properties

  (per Mcfe)

3.83


3.26


3.83


3.34











AVERAGE SHARES OUTSTANDING – Diluted

48,384


48,071


48,343


48,006





























    

STONE ENERGY CORPORATION

CONSOLIDATED STATEMENT OF OPERATIONS

(In thousands)

(Unaudited)












Three Months Ended

September 30,


Nine Months Ended

September 30,



2012


2011


2012


2011










        Operating revenue:









         Oil production


$180,806


$157,436


$564,745


$484,788

         Gas production


34,003


42,771


91,006


131,815

         Natural gas liquids production


11,910


9,060


35,228


25,290

         Other operational income


678


1,245


2,520


2,994

         Derivative income, net


-


4,082


3,119


3,300

                     Total operating revenue


227,397


214,594


696,618


648,187










       Operating expenses:









         Lease operating expenses


60,995


46,591


157,030


130,486

         Transportation, processing and gathering

         expenses


6,762


2,763


15,911


7,311

         Other operational expenses


82


654


195


1,452

         Production taxes


1,842


2,492


7,578


6,828

         Depreciation, depletion and amortization


89,274


64,462


260,982


204,777

         Accretion expense


8,405


7,700


24,926


23,134

         Salaries, general and administrative

         expenses


13,673


7,151


40,521


29,494

         Incentive compensation expense


67


2,087


3,907


7,104

         Derivative expense, net


1,812


-


-


-

                     Total operating expenses


182,912


133,900


511,050


410,586










        Income from operations


44,485


80,694


185,568


237,601










        Other (income) expenses:









         Interest expense


7,692


1,379


21,107


6,470

         Interest income 


(117)


(23)


(227)


(170)

         Other income, net


(443)


(372)


(1,229)


(1,499)

         Loss on early extinguishment of debt


-


-


-


607

         Other expense, net


-


308


-


501

                     Total other expenses


7,132


1,292


19,651


5,909










        Net income before taxes


37,353


79,402


165,917


231,692










        Provision (benefit) for income taxes:









         Current


595


(12,681)


1,164


(15,043)

         Deferred


13,099


40,262


59,573


97,926

                     Total income taxes


13,694


27,581


60,737


82,883










       Net income


$23,659


$51,821


$105,180


$148,809










         

STONE ENERGY CORPORATION

RECONCILIATION OF NON-GAAP FINANCIAL MEASURE

(In thousands)

(Unaudited)












Three Months Ended

September 30,


Nine Months Ended

September 30,



2012


2011


2012


2011










Net income as reported


$23,659


$51,821


$105,180


$148,809










Reconciling items:









Depreciation, depletion and amortization


89,274


64,462


260,982


204,777

Deferred income tax provision.


13,099


40,262


59,573


97,926

Accretion expense


8,405


7,700


24,926


23,134

Stock compensation expense


2,529


1,354


6,800


4,492

Early extinguishment of debt


-


-


-


607

Non-cash interest expense


3,790


453


9,068


1,412

Other


2,087


(6,011)


(1,450)


(7,189)

Discretionary cash flow


142,843


160,041


465,079


473,968










Changes in income taxes payable


681


(15,465)


(3,240)


(21,710)

Settlement of asset retirement obligations


(25,293)


(18,975)


(47,211)


(52,543)

Other working capital changes


6,246


16,280


(40,715)


(11,302)










Net cash provided by operating activities


$124,477


$141,881


$373,913


$388,413










         

STONE ENERGY CORPORATION

CONSOLIDATED BALANCE SHEET

(In thousands)

(Unaudited)



September 30,


December 31,



2012


2011

Assets










Current assets:





         Cash and cash equivalents


$176,186


$38,451

         Accounts receivable


127,250


118,139

         Fair value of hedging contracts


34,010


25,177

         Current income tax receivable


24,066


19,946

         Deferred taxes


12,280


26,072

         Inventory


4,506


4,643

         Other current assets.


3,246


791

               Total current assets


381,544


233,219






Oil and gas properties, full cost method of accounting:





         Proved


7,039,450


6,648,168

         Less: accumulated depreciation, depletion and amortization


(5,427,668)


(5,174,729)

         Net proved oil and gas properties .


1,611,782


1,473,439

         Unevaluated


454,639


401,609

Other property and equipment, net


13,399


11,172

Fair value of hedging contracts


18,155


22,543

Other assets, net..


35,158


23,769

         Total assets


$2,514,677


$2,165,751






Liabilities and Stockholders' Equity










Current liabilities:





         Accounts payable to vendors


$99,362


$102,946

         Undistributed oil and gas proceeds


24,277


27,328

         Accrued interest


9,774


14,059

         Fair value of hedging contracts


1,077


11,122

         Asset retirement obligations


59,366


62,676

         Other current liabilities


11,405


28,370

               Total current liabilities


205,261


246,501






Bank debt.


-


45,000

6¾% Senior Subordinated Notes due 2014.


200,000


200,000

8⅝% Senior Notes due 2017


375,000


375,000

1¾% Senior Convertible Notes due 2017*


236,024


-

Deferred taxes


298,100


247,835

Asset retirement obligations


351,023


363,103

Fair value of hedging contracts


2,266


815

Other long-term liabilities


20,844


19,668

         Total liabilities


1,688,518


1,497,922






Common stock


484


481

Treasury stock


(860)


(860)

Additional paid-in capital


1,383,741


1,338,565

Accumulated deficit


(587,045)


(692,225)

Accumulated other comprehensive income


29,839


21,868

         Total stockholders' equity


826,159


667,829

         Total liabilities and stockholders' equity


$2,514,677


$2,165,751






*Face value of $300 million





 

SOURCE Stone Energy Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
In 2015, 4.9 billion connected "things" will be in use. By 2020, Gartner forecasts this amount to be 25 billion, a 410 percent increase in just five years. How will businesses handle this rapid growth of data? Hadoop will continue to improve its technology to meet business demands, by enabling businesses to access/analyze data in real time, when and where they need it. Cloudera's Chief Technologist, Eli Collins, will discuss how Big Data is keeping up with today's data demands and how in the future, data and analytics will be pervasive, embedded into every workflow, application and infra...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, will provide some practical insights on what, how and why when implementing "software-defined" in the datacenter.
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Telecommunications Corporation, a facilities-based international carrier licensed by t...
How is unified communications transforming the way businesses operate? In his session at WebRTC Summit, Arvind Rangarajan, Director of Product Marketing at BroadSoft, will discuss how to extend unified communications experience outside the enterprise through WebRTC. He will also review use cases across different industry verticals. Arvind Rangarajan is Director, Product Marketing at BroadSoft. He has over 19 years of experience in the telecommunications industry in various roles such as Software Development, Product Management and Product Marketing, applied across Wireless, Unified Communic...
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises. For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives. The value addition comes from improved customer service, innovative product and additional revenue streams. The data from these IP-connected devices can be leveraged for a variety of business applications as well as responsive action controls. The various architectural building blocks of an IoT ...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and easy to use. MangoApps has been named a "Market Leader" by Ovum Research and a "Cool Vendor" by Gartner...
SYS-CON Media announced today that @ThingsExpo Blog launched with 7,788 original stories. @ThingsExpo Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @ThingsExpo Blog can be bookmarked. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago.
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting wearables as fashion accessories and moving away from the original clunky technology associated with t...
SYS-CON Events announced today that Litmus Automation will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Litmus Automation’s vision is to provide a solution for companies that are in a rush to embrace the disruptive Internet of Things technology and leverage it for real business challenges. Litmus Automation simplifies the complexity of connected devices applications with Loop, a secure and scalable cloud platform.
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this case) takes into account the number and quality of contextual references that a user receives.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? Join this panel of experts as they peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you’ll have no problem filling in your buzzword bingo cards.
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are configurable to any form factor or custom configuration. AIC leads the industry with nearly 20 years of ...
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...