Mariner Energy Completes Acquisition of West Texas Properties
Mariner Energy, Inc. announced today that it has closed its previously announced acquisition of additional Spraberry interests in the Permian Basin from an undisclosed party for approximately $122.5 million. Mariner acquired an approximate 56% working interest in approximately 32,000 gross acres in Reagan, Midland, Dawson, Glasscock, Martin and Upton Counties, Texas. The acquisition includes 348 wells producing approximately 1,250 barrels of oil equivalent (BOE) per day net to the interests acquired. Mariner estimates net proved oil and gas reserves attributable to the acquisition of approximately 16 million BOE (75% oil and liquids). Mariner will operate substantially all of the assets.