Mariner Energy Acquires Interest in 54,000 Acres in Wyoming's DJ Basin
April 13 2010 - 7:00AM
Marketwired
Mariner Energy, Inc. (NYSE: ME) announced today that the company
has acquired 100% working interest in approximately 54,000 net
acres in the Denver Julesburg Basin (DJ Basin) from an undisclosed
third party. Financial terms of the transaction are confidential.
The acreage comprises fee, state and federal leases located in
Southern Wyoming in Laramie County. Mariner believes the acreage is
on trend with and contains shales with petrophysical properties
similar to the commercial Niobrara Shale discoveries of the Jake
2-01H well and Silo Field.
"This acquisition is consistent with our stated strategy of
obtaining sizeable low-entry-cost oily shale plays where we can
operate. The acreage is close to existing infrastructure,
facilitating development if our exploration efforts are
successful," said Scott D. Josey, Chairman, Chief Executive
Officer, and President of Mariner Energy.
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, Gulf Coast and the Gulf of Mexico. For more
information about Mariner, visit the company's website at
www.mariner-energy.com.
Important Information Concerning 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 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. Estimated reserves are related to
hydrocarbon prices. Hydrocarbon prices used in estimating reserves
may vary significantly from actual future prices. Therefore,
volumes of reserves actually recovered may differ significantly
from such estimates. 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 Mariner's
latest Annual Report on Form 10-K and other documents filed by
Mariner with the Securities and Exchange Commission (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 Mariner's latest Annual
Report on Form 10-K and other documents filed by Mariner with the
SEC.
"Proved" oil and gas reserves are those that can be estimated
with reasonable certainty to be economically and legally producible
under existing economic conditions, operating methods and
government regulations. "Probable," "possible" and "non-proved"
reserves, reserve "potential" or "upside" or other descriptions of
volumes of reserves potentially recoverable involve estimates that
by their nature are more speculative than estimates of proved
reserves and accordingly are subject to substantially greater risk
of actually being realized by Mariner. The SEC generally does not
permit a company's filings with the SEC to include estimates or
estimated values of oil or gas resources other than reserves due to
concern that resources other than reserves are too speculative and
may be misleading.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of Mariner.
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