Mariner Energy Announces Proposed Public Offerings of Common Stock and Senior Notes
June 02 2009 - 4:00PM
PR Newswire (US)
HOUSTON, June 2 /PRNewswire-FirstCall/ -- Mariner Energy, Inc.
(NYSE:ME) today announced that it intends to offer, subject to
market and other conditions, 10 million shares of its common stock
and $250 million in aggregate principal amount of its senior notes
due 2016 through concurrent underwritten public offerings. Mariner
expects to grant the underwriters a 30-day option, solely to cover
over-allotments, to purchase up to an additional 1.5 million shares
of its common stock. Net proceeds from the offerings are expected
to be used to repay debt under Mariner's secured bank credit
facility and for general corporate purposes. Mariner cannot provide
assurance regarding the amount of senior notes to be issued, if
any, until the senior notes offering has been completed. The
offerings are being made pursuant to an effective shelf
registration statement filed with the U.S. Securities &
Exchange Commission (SEC). For each offering, a prospectus
supplement and accompanying prospectus describing the terms of the
offering will be filed with the SEC and available on its website at
http://www.sec.gov/. Neither of the offerings is contingent upon
consummation of the other offering. Credit Suisse, J.P. Morgan, and
Merrill Lynch & Co. are acting as joint book-running managers
for the common stock offering. Copies of the preliminary prospectus
supplement and the accompanying prospectus may be obtained by
contacting Credit Suisse Securities (USA) LLC, Prospectus
Department, One Madison Avenue, New York, NY 10010 or by calling
800-221-1037; J.P. Morgan Securities Inc., 4 Chase Metrotech
Center, CS Level, Brooklyn, NY 11245, Attn: Chase Distribution and
Support Service, Northeast Statement Processing, or by calling
718-242-8002, or by faxing to 718-242-8003; or Merrill Lynch &
Co., Attn: Prospectus Department, 4 World Financial Center, New
York, NY 10080, or by calling 212-449-1000. Credit Suisse, Bank of
America, J.P. Morgan, Wachovia Securities and Citi are acting as
joint book-running managers for the senior notes offering. Copies
of the preliminary prospectus supplement and the accompanying
prospectus may be obtained by contacting Credit Suisse Securities
(USA) LLC, Prospectus Department, One Madison Avenue, New York, NY
10010 or by calling 800-221-1037; Bank of America Securities LLC,
Prospectus Department, 100 West 33rd Street, 3rd Floor, New York,
NY 10001; J.P. Morgan Securities Inc., ADP IDS, 1155 Long Island
Avenue, Edgewood, NY 11717, Attn: Post-Sale Fulfillment, or by
calling 212-834-4533; Wachovia Securities at 301 South College
Street, 6th Floor, Charlotte, NC 28202, Attn: High Yield Syndicate;
or Citi, Attn: Prospectus Department, Brooklyn Army Terminal, 140
58th Street, 8th Floor, Brooklyn, NY 11220, or by calling
800-831-9146 or by emailing to . This news release is neither an
offer to sell nor 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 an offer, solicitation, or sale
would be unlawful. About Mariner Energy, Inc. 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/. Forward-looking statements This
press 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 generally are 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.
Forward-looking statements provided in this press release relate
to, among other things, the offering of Mariner common stock and
senior notes, the expected maturity date of the notes and use of
proceeds from both proposed offerings. These forward-looking
statements are based on Mariner's current belief based on currently
available information as to the outcome and timing of future events
and assumptions that Mariner believes are reasonable. Mariner does
not undertake to update its guidance, estimates or other
forward-looking statements as conditions change or as additional
information becomes available. Mariner cautions that its
forward-looking statements are subject to all of the risks and
uncertainties normally incident to the exploration for and
development, production and sale of oil and natural gas. These
risks include, but are not limited to, price volatility or
inflation, environmental risks, drilling and other operating risks,
regulatory changes, the uncertainty inherent in estimating future
oil and gas production or reserves, and other risks described in
the Annual Report on Form 10-K for the fiscal year ended December
31, 2008, as amended, and other documents filed by Mariner with the
SEC. Any of these factors could cause Mariner's 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, 2008, as
amended, and other documents filed by Mariner with the SEC.
DATASOURCE: Mariner Energy, Inc. CONTACT: Patrick Cassidy of
Mariner Energy, +1-713-954-5558, Web Site:
http://www.mariner-energy.com/
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