Oil Rig Explosion: Mariner Energy At Fault, No Oil Spill

According to Russia Today and The New York Times, an oil rig located in the Gulf of Mexico and just west of the British Petroleum TransOcean Deepwater Horizon rig that exploded six months ago, exploded.

The rig, owned by Mariner Energy , which says it accepts full responsibility for the accident and will work with officials, was reported not to be "actively drilling" according to The New York Times. It was not part of the deepwater drilling moratorium set by President Obama after the BP Oil explosion and spill.

Moreover, it was reported, in the same NY Times article, to have been producing 9.2 million cubic feet of natural gas a day and 1,400 barrels of oil and condensate.

But at the time the facility was being painted and sandblasted. It's not known what caused the accident.

Mariner Energy stock dropped four percent on news of the explosion.

Stay tuned.