Cobalt International Energy Inc was incorporated in State of Delaware in August 2009. It is an independent exploration and production company with operations in the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon in West Africa. Its exploration efforts in the U.S. Gulf of Mexico have resulted in four oil and gas discoveries including the North Platte, Shenandoah, Anchor, and Heidelberg fields, each of which are in various stages of appraisal and development. It also has a non-operated interest in the Diaba Block offshore Gabon. The Company's operational focus is to progress its North Platte, Shenandoah and Anchor discoveries toward project sanction; continue development drilling activities on the Heidelberg field to increase its oil and gas production over time; and selectively conduct exploration drilling on its current U.S. Gulf of Mexico acreage. The Company's operations in Gabon, which are deemed immaterial, have been combined with its United States segment and are reported as one segment. It competes with other independent, national oil and gas companies in acquiring properties and securing trained personnel. The Company's future operations will be, subject to various stringent and complex international, foreign, federal, state and local environmental, health and safety laws and regulations governing matters including the emission and discharge of pollutants into the ground, air or water; the generation, storage, handling, use, transportation and disposal of regulated materials; and the health and safety of its employees.
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