ME Mariner Energy Inc.

HOUSTON, June 10 /PRNewswire-FirstCall/ -- Mariner Energy, Inc. (NYSE:ME) today reported that it closed its previously announced underwritten public offerings of common stock and 11.75% senior notes due 2016. Mariner used the aggregate net sales proceeds of $446.2 million to repay debt under its bank credit facility. Mariner sold 11.5 million shares of common stock at a public offering price of $14.50 per share, including 1.5 million shares issued upon full exercise of the underwriters' overallotment option. Mariner also sold $300 million in aggregate principal amount of the senior notes at 97.093% of principal amount, for an initial yield to maturity of 12.375%. Mariner's net proceeds were $160.2 million from the sale of stock and $286.0 million from the sale of senior notes, in each case after deducting underwriting discounts and commissions and before offering expenses payable by Mariner. Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated were joint book-running managers for the common stock offering. Credit Suisse Securities (USA) LLC, Bank of America Securities LLC, J.P. Morgan Securities Inc., Wachovia Capital Markets, LLC and Citigroup Global Markets Inc. were joint book-running managers for the senior notes offering. 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 its website at http://www.mariner-energy.com/. 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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