Mariner Energy sets $660 million budget

Mariner Energy Inc. plans capital spending of $660 million for 2010 compared with a 2009 budget of $431 million.

By OGJ editors
HOUSTON, Jan. 5
-- Mariner Energy Inc. plans capital spending of $660 million for 2010 compared with a 2009 budget of $431 million.

The 2010 budget included Mariner’s $260 million acquisition of bankrupt Edge Petroleum Corp. of Houston.

Mariner, an independent based in Houston with operations in the Gulf of Mexico and the Permian basin, expects its deepwater Balboe discovery will begin production in the third quarter and its deepwater Wide Berth will come on stream in the first quarter 2011.

Onshore, Mariner expects to operate 8-10 rigs in the Permian basin during 2010. The company expects to participate in 140-170 onshore wells.

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