Mariner Energy Closes Public Offerings of Common Stock and Senior Notes

HOUSTON, June 10 /PRNewswire-FirstCall/ -- Mariner Energy, Inc. (NYSE: ME)
today reported that it closed its previously announced underwritten public
offerings of common stock and 11.75% senior notes due 2016. Mariner used the
aggregate net sales proceeds of $446.2 million to repay debt under its bank
credit facility.

Mariner sold 11.5 million shares of common stock at a public offering price of
$14.50 per share, including 1.5 million shares issued upon full exercise of
the underwriters' overallotment option. Mariner also sold $300 million in
aggregate principal amount of the senior notes at 97.093% of principal amount,
for an initial yield to maturity of 12.375%.

Mariner's net proceeds were $160.2 million from the sale of stock and $286.0
million from the sale of senior notes, in each case after deducting
underwriting discounts and commissions and before offering expenses payable by
Mariner.

Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc., and Merrill
Lynch, Pierce, Fenner & Smith Incorporated were joint book-running managers
for the common stock offering.

Credit Suisse Securities (USA) LLC, Bank of America Securities LLC, J.P.
Morgan Securities Inc., Wachovia Capital Markets, LLC and Citigroup Global
Markets Inc. were joint book-running managers for the senior notes offering.

This news release 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 an offer,
solicitation, or sale would be unlawful.

About Mariner Energy, Inc.

Mariner Energy is an independent oil and gas exploration, development, and
production company headquartered in Houston, Texas, with principal operations
in the Permian Basin and the Gulf of Mexico. For more information about
Mariner, visit its website at www.mariner-energy.com.

SOURCE Mariner Energy, Inc.

Patrick Cassidy of Mariner Energy, +1-713-954-5558, ir@mariner-energy.com