Mariner Energy Announces 9 Blocks From MMS Oil and Gas Lease Sale Have Been Awarded
Mariner Energy, Inc. (NYSE: ME) announced today that it has been awarded nine blocks on which it was the high bidder at the March 15th Minerals Management Service (MMS) OCS Oil and Gas Lease Sale 198. The blocks awarded include the block on which Mariner made its highest bid and two blocks located in deepwater areas of the Gulf of Mexico (depths greater than 400 meters). Mariner’s net cost exposure for the nine blocks is approximately $16.5 million. Its bid on a tenth block on which it was also the high bidder was not awarded.
Mariner Energy, Inc. is an independent oil and gas exploration, development and production company with principal operations in the Gulf of Mexico and the Permian Basin in West Texas. For more information about Mariner, please visit its website at http://www.mariner-energy.com
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of Section 27 of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, that address activities that Mariner assumes, plans, expects, believes, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements provided in this press release are based on the current belief of Mariner based on currently available information as to the outcome and timing of future events. Mariner cautions that its future natural gas and liquids production, revenues and expenses and other forward-looking statements are subject to all of the risks and uncertainties normally incident to the exploration for and development and production and sale of oil and gas. These risks include, but are not limited to, price volatility, inflation or lack of availability of goods and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating future oil and gas production or reserves, and other risks detailed in documents filed by Mariner with the Securities and Exchange Commission. Any of these factors could cause the actual results and plans of Mariner to differ materially from those in the forward-looking statements. Investors are urged to read the Annual Report on Form 10-K for the year ended December 31, 2005 and other documents filed by Mariner with the Securities and Exchange Commission that contain important information including detailed risk factors. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Mariner and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Source: Mariner Energy, Inc.
