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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

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As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...