Mariner Energy Reports No Material Damage From Gustavadmin
Mariner Energy, Inc. provided a preliminary update on the impact of Hurricane Gustav on the company’s Gulf of Mexico production and assets. The company has completed initial assessments of virtually all Mariner-operated offshore structures and received reports from most operators at its third-party operated assets. Based upon these assessments and reports, it does not appear that any of the structures sustained any material damage. As of Thursday, September 4, approximately 220 million cubic feet of natural gas equivalent per day (MMcfe/d) of offshore production was online. Pre-hurricane production from Mariner’s Gulf of Mexico properties was approximately 360 MMcfe/d.
— Of Mariner’s two largest producing assets, Northwest Nansen (East Breaks Blocks 602 and 558) resumed production on Tuesday, September 2, and start-up activities are underway at Bass Lite (Atwater Valley Block 426) with production expected to resume in the next few days. — Production operations have resumed at most shelf fields. — Full production from deepwater and shelf fields is expected when third- party pipelines and processing plants resume operations, which is expected to occur over the next several days as power is restored.
— Development activities at the Mariner-operated Geauxpher field (Garden Banks Block 462) and exploration drilling at the Mariner-operated Surge prospect (Garden Banks Block 334) have resumed.
Website Updates of Post-Hurricane Gustav Production
Mariner plans to provide updates about ongoing restoration of its offshore production shut in due to Hurricane Gustav on the company website (http://www.mariner-energy.com) beginning Monday, September 8, 2008, and periodically thereafter.
Mariner Energy is an independent oil and gas exploration, development, and production company headquartered in Houston, Texas, with principal operations in the Permian Basin and the Gulf of Mexico. For more information about Mariner, visit the company’s website at http://www.mariner-energy.com.