Mariner Energy Recommences Production on Two Deepwater Projects in the Gulf of Mexico
September 26 2006 - 6:57PM
PR Newswire (US)
HOUSTON, Sept. 26 /PRNewswire-FirstCall/ -- Mariner Energy, Inc.
(NYSE:ME) announces that it has recommenced production on its Ochre
and Pluto deepwater Gulf of Mexico projects. Ochre, located in
Mississippi Canyon block 66, was shut-in following Hurricane Ivan.
Production has been restored to a gross rate of approximately 10.5
million cubic feet of gas equivalent per day (MMcfe/d). Mariner
operates Ochre with a 75% working interest and Stone Energy has a
25% working interest. Pluto, located in Mississippi Canyon block
718, was originally shut-in for the drilling and completion of a
new well. Start-up was delayed due to Hurricane Katrina. Production
from Pluto has recommenced and the well is currently producing at a
gross rate of approximately 40 MMcfe/d. Mariner expects to achieve
a gross production rate in the range of approximately 40 to 50
MMcfe/d. Mariner operates Pluto with a 51% working interest and
W&T Offshore has a 49% working interest. Mariner estimates that
most of its remaining production shut-in due to the damage caused
by the 2005 hurricanes will recommence during the fourth quarter of
2006. This news release includes forward-looking statements within
the meaning of Section 27A 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. Our
forward-looking statements are generally accompanied by words such
as "may," "will," "estimate," "project," "predict," "believe,"
"expect," "anticipate," "potential," "plan," "goal," or other words
that convey the uncertainty of future events or outcomes. 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 or inflation, 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 as described in
the Annual Report on Form 10-K for the fiscal year ended December
31, 2005, and other 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. About Mariner Energy, Inc. Mariner Energy, Inc. is an
independent oil and gas exploration, development and production
company with principal operations in the Gulf of Mexico and West
Texas. For more information about Mariner, please visit its website
at http://www.mariner-energy.com/. DATASOURCE: Mariner Energy, Inc.
CONTACT: Jaime F. Brito, Director, Investor Relations for Mariner
Energy, Inc., , or +1-713-954-5558 Web site:
http://www.mariner-energy.com/
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