Mariner Energy Awarded Nine Blocks in Lease Sale 198

Mariner Energy, Inc.

Mariner Energy has been awarded nine blocks on which it was the high bidder at the March 15th Minerals Management Service (MMS) OCS Oil and Gas Lease Sale 198. The blocks awarded include the block on which Mariner made its highest bid and two blocks located in deepwater areas of the Gulf of Mexico (depths greater than 400 meters). Mariner's net cost exposure for the nine blocks is approximately $16.5 million. Its bid on a tenth block on which it was also the high bidder was not awarded.

Mariner Energy, Inc. is an independent oil and gas exploration, development and production company with principal operations in the Gulf of Mexico and the Permian Basin in West Texas.