Mariner Energy Prices Senior Unsecured Notes

Mariner Energy, Inc. (NYSE: ME) announced the pricing on April 19, 2006 of $300 million of its 7 1/2% senior unsecured notes due 2013, priced to yield 7.75% to maturity. Mariner plans to use the net proceeds from the offering to repay debt under its secured bank credit facility. The delivery of the notes is expected to occur on April 24, 2006.

Mariner may redeem the notes at any time prior to April 15, 2010 at a price equal to the principal amount redeemed plus a make-whole premium, using a discount rate of the Treasury rate plus 0.50% and accrued but unpaid interest. Beginning on April 15 of the years indicated below, Mariner may redeem the notes from time to time, in whole or in part, at the prices set forth below (expressed as percentages of the principal amount redeemed) plus accrued but unpaid interest:

     2010 at 103.750%
     2011 at 101.875%
     2012 and thereafter at 100.000%

In addition, prior to April 15, 2009, Mariner may redeem up to 35% of the notes with the proceeds of equity offerings at a price equal to 107.50% of the principal amount of the notes redeemed.

This announcement 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 offer, solicitation or sale would be unlawful. The notes have not been registered under the Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. Any offers of the notes will be made exclusively by means of a private offering memorandum.