Market Overview

Cobalt International Energy Announces Significant Oil Discovery in Gulf of Mexico


Cobalt International Energy (NYSE: CIE) today announced
a significant oil discovery at its North Platte prospect on Garden Banks
Block 959 in the deepwater Gulf of Mexico. Based on extensive wireline
evaluation, the discovery well encountered several hundred feet of net
oil pay in multiple Inboard Lower Tertiary sands.

“Today's announcement is another important milestone for Cobalt,” said
Joseph H. Bryant, Chairman and Chief Executive Officer. “Cobalt's
founding vision included making significant operated discoveries in
multiple world-class deepwater oil basins. Coupled with our previous
Cameia announcements in Angola, Cobalt has demonstrated it has the
technical and operational skills to deliver on our promises.”

“North Platte is particularly

See full press release

Posted-In: News Guidance Asset Sales Management


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