Mariner Energy Says Hurricane Had No Impact on Operated Platforms

Mariner Energy reports that approximately 29 Mmcf per day of natural gas and 3,000 bbls per day of oil and condensate net to our interest is currently shut-in as a result of the effects of Hurricane Katrina.

The hurricane had no impact on Mariner's operated platforms. Preliminary reports from operators of other facilities that handle our production indicate varying degrees of damage to their facilities, the full extent of which may not be known for several weeks. We expect most of our shut-in production will recommence over the next few days to several weeks.

We have ongoing operations at several development projects, including Swordfish (Viosca Knoll 961,962,917), Pluto (Mississippi Canyon 674,718), Rigel (Mississippi Canyon 252,296), and Ochre (Mississippi Canyon 66). We are not aware of any damage to our subsea facilities or flow lines at this time; however, preliminary reports from the operators of the host facilities associated with Pluto, Rigel, and Ochre indicate varying degrees of damage, which may result in delays in the start-up of these projects. We do not believe at this time that the damage sustained by facilities associated with our producing fields and development projects will result in any permanent loss of reserves.

Mariner currently operates or is participating in three offshore drilling operations. Prior to the hurricane, rigs were secured and evacuated. As of this morning all operations have recommenced.