By OGJ editors
HOUSTON, Apr. 7 -- Mariner Energy Inc., Houston, sold its 25% interest in 32 blocks in the Gulf of Mexico Falcon field area to Pioneer Natural Resources Co. for $121.6 million. Assets include Falcon field, 100 miles east of Corpus Christi, Tex., in 3,400 ft of water, and the Harrier discovery in East Breaks Blocks 758 and 759.
Mariner will retain a 4.25% overriding royalty interest on seven non-producing blocks in the Falcon area. Pioneer, which already owned 75% of Falcon field, also assumed certain contractual obligations from Mariner Energy (OGJ Online, Apr. 15, 2002).
