Mariner Completes Acquisition of GOM Shelf Operations from StatoilHydro

Mariner Energy, Inc. has closed its previously announced acquisition of an operating subsidiary of Hydro Gulf of Mexico, Inc., a subsidiary of StatoilHydro ASA, which owns substantially all of StatoilHydro's Gulf of Mexico shelf operations. In connection with the financing of this acquisition, Mariner amended its secured credit facility to increase maximum credit availability to $1 billion, subject to an increased borrowing base of $750 million as of January 31, 2008, and extended the facility's term to January 31, 2012.

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