Mariner Fires Up Production from Deepwater GOM's Geauxpher

Geauxpher Prospect
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Mariner Energy announced today the startup of production from Geauxpher, a deepwater development in the Gulf of Mexico on Garden Banks Block 462.

Geauxpher lies in water depths of approximately 2,700 feet more than 150 miles from the Louisiana coast. The development includes two wells with current gross production of approximately 115 million cubic feet of natural gas equivalent per day (MMcfe/d). The wells are connected via a 40-mile subsea tieback to a third-party operated platform on Garden Banks Block 72. Production from the wells to pressurize the flowline to the platform commenced April 15, 2009, and sales commenced May 15. Mariner holds a 60% working interest and operates the Geauxpher field. Apache Corporation holds the remaining 40% working interest.

With the startup of the Geauxpher field, approximately half of Mariner's current daily production of 390-400 MMcfe/d comes from oil and gas fields located in deepwater. In another joint venture with Apache, Mariner is currently drilling an exploration well on the Arden prospect on Garden Banks Block 949. Mariner operates the well, which is expected to reach its targeted depth over the next two to three months, and holds a 50% working interest.

"We are realizing production from Geauxpher less than a year after its discovery, which is exceptional for a deepwater project of this magnitude and a tribute to the expertise of our deepwater team. Even more impressive, first production could have occurred as early as last fall but for disruptions caused by Hurricane Ike," said Scott Josey, Chairman, Chief Executive Officer, and President of Mariner Energy. "The Geauxpher project has been an excellent collaboration with Apache, and we are pleased to be partnering with them again on our Arden prospect."


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