Mariner Energy Rig Explodes in Gulf, Shares Slide (ME)

An oil and gas rig owned by Mariner Energy ME exploded off the coast of Louisiana Thursday. The U.S. Coast Guard has been deployed, and is working to rescue the 13 workers. "Thirteen out of 13 are accounted for and it's still burning," said a spokesman for the Eighth District Coast Guard Command Center in New Orleans. In comments to CNBC Thursday, a spokesman for Mariner Energy said "it doesn't appear that there is any spill or sheen to be seen on the water" following the fire. According to a CNBC report, "The fire occurred away from the well...it wasn't involved in the area where they had oil producing wells," said Patrick Cassidy, a spokesman for Mariner. He added that the facility isn't a drilling rig, but rather a production facility." The facility is located more than 90 miles south of Louisiana's Vermilion Bay. Coast Guard helicopters and ships are being deployed. Shares of Mariner Energy are down 2.25% this afternoon, to $22.82. Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.