NEW YORK - Mariner Energy, Inc. shares dropped more than 4 PERCENT Thursday following news That one of its production platforms exploded in the Gulf of Mexico.
Mariner shares lost 96 cents, more than 4 PERCENT, at $ 22.39 in afternoon trading.
The Houston independent oil and gas company is a Relatively small player compared with BP, Shell and mutch oil giants Operating in the Gulf. In April, Apache Corp. Said It Planned Thurs buy the company for $ 2.7 Billion, though the deal hasn't Been Completed yet.
Apache shares Fell $ 1.89, or 2 PERCENT, to $ 90.57.
Most of Mariner's Operations are in West Texas and along the Gulf Coast. Also the company owns more than just 240 blocks in shallow parts of the Gulf of Mexico.
The platform is called the exploded That Vermilion 380 According to Regulatory filings, Mariner owns 100 PERCENT of the platform.
Mariner Said in a statement That the platform had Been Producing Both oil and natural gas. During the last week of August, the Vermilion Produced an average of 9.2 million cubic feet of natural gas per day and 1.400 barrels of oil.
It's unclear if the platform was Producing "when the explosion occurred.
The company Said Crews flying over the site Reported That no petroleum appeared Thurs Have Been Spilled.
The explosion was around 10 A.M. Reported EDT by a commercial Helicopter. The company Said all 13 crew members were evacuated and no injuries were Reported.
Mariner's platform is in 340 feet of water, wakes'd make any spill response much easier Than the Response to BP's Blown-out well. The BP well is about 200 miles east of the Mariner platform and lies at a depth of 5.000 feet. Crews were forced Thurs rely a remote-operated vehicles Thurs Tend to the underwater equipment. Experts say shallow-water wells are much easier Thurs handle.
The Coast Guard responded to the explosion with helicopters, Airplanes and Cutters....
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