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Last $7.94 USD
Change Today +0.46 / 6.15%
Volume 3.7M
CIE On Other Exchanges
As of 8:04 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

cobalt international energy (CIE) Snapshot

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08/4/14 - $16.03
52 Week Low
08/3/15 - $7.36
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cobalt international energy (CIE) Details

Cobalt International Energy, Inc., through its subsidiaries, engages in the exploration and production of oil-focused, below-salt exploration prospects. Its project portfolio comprises North Platte, Heidelberg, Shenandoah, and Anchor discovery in the U.S. Gulf of Mexico; Cameia, Lontra, Mavinga, Bicuar, and Orca in the offshore Angola; and Diaman in the offshore Gabon. As of December 31, 2014, the company's estimated net proved undeveloped reserves totaled 8.4 million barrels of oil and 3.7 billion cubic feet of natural gas. Cobalt International Energy, Inc. was founded in 2005 and is based in Houston, Texas.

205 Employees
Last Reported Date: 02/23/15
Founded in 2005

cobalt international energy (CIE) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.9M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $540.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $945.5K
Chief Exploration Officer and Executive Vice ...
Total Annual Compensation: $815.5K
Executive Vice President of Execution & Appra...
Total Annual Compensation: $815.5K
Compensation as of Fiscal Year 2014.

cobalt international energy (CIE) Key Developments

Cobalt International Energy, Inc. to Report Q2, 2015 Results on Aug 04, 2015

Cobalt International Energy, Inc. announced that they will report Q2, 2015 results at 11:00 AM, US Eastern Standard Time on Aug 04, 2015

Cobalt International Energy, Inc., Q2 2015 Earnings Call, Aug 04, 2015

Cobalt International Energy, Inc., Q2 2015 Earnings Call, Aug 04, 2015

Cobalt International Energy, Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Impairment Charges for the First Quarter Ended March 31, 2015; Provides Operational Update

Cobalt International Energy, Inc. announced consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported operating loss of $63,257,000 against $47,293,000 a year ago. Net loss before income tax was $81,617,000 against $56,915,000 a year ago. Net loss was $81,617,000 or $0.20 per basic and diluted share against $56,915,000 or $0.14 per basic and diluted share a year ago. Net cash used in operating activities was $17,180,000 against $85,673,000 a year ago. Capital and operating expenditures (excluding changes in working capital) for the quarter ending March 31, 2015 was approximately $191 million, in line with its planned capital and operating expenditures of approximately $800 million-$900 million in 2015. For the first quarter, the company announced that the current quarter net loss included $17 million of impairment charges for the previously announced abandonment of the North Platte #2 appraisal well. The company continues to appraise and develop several of its discoveries in Angola and the Gulf of Mexico, with a focus on progressing each to potential sanction while simultaneously evaluating financing, partnership or other potential means of enhancing shareholder value. In Angola Block 20, the Orca #2 appraisal well and drill stem test results confirmed the presence of a large oil accumulation in the Sag section of the Pre-salt. In addition, log and sampling evaluation results have confirmed the discovery of oil in the deeper Synrift reservoir of the Pre-salt. Orca #2 was drilled seven kilometers (four and one-third miles) from the Orca #1 discovery well and is Cobalt’s first appraisal well drilled on its significant 2014 Orca deepwater Pre-salt discovery in the Kwanza Basin. Orca is the larger oil discovery found to date in the Kwanza Basin. Cobalt and its partners anticipate more appraisal activities in the future to determine Orca’s development and production potential. Cobalt, as operator, holds a 40% working interest in Orca. At Cameia in Angola Block 21, Cobalt is currently drilling the Cameia #4 development well. Cobalt plans a continuous development drilling program at Cameia for the remainder of 2015 and early 2016. In conjunction with these ongoing development drilling activities, Cobalt continues to focus efforts on the optimization of Cameia facility and subsea infrastructure design and costs to take advantage of favorable market forces attributed to the current downturn in industry activity. Cobalt’s current FPSO design is a nominal 75,000 barrel per day facility, with a likely production capacity in excess of 80,000 barrels per day early in the field’s life. As previously stated, Cobalt believes that Cameia’s project economics remain robust in the current commodity price environment. Cobalt expects to achieve formal project sanction of Cameia by year-end 2015, aligned with its efforts to deliver first production in 2018. Cobalt, as operator, holds a 40% working interest in Cameia. In the U.S. Gulf of Mexico, Cobalt anticipates appraisal operations will commence on the Anchor Inboard Lower Tertiary discovery in the coming months. As announced earlier this year, Anchor represents Cobalt’s fourth significant deepwater Gulf of Mexico discovery. Cobalt, as non-operator, holds a 20% working interest in Anchor. Appraisal operations are also expected to resume at Shenandoah, where planning is well underway for the drilling of the Shenandoah #4 well, the third appraisal well which is anticipated to spud before the end of the second quarter. The well is expected to confirm the lateral sand quality, continuity and stratigraphy of reservoirs found in the Shenandoah #2 appraisal well, which encountered over 1,000 net feet of oil pay in excellent quality Inboard Lower Tertiary-aged reservoirs. Shenandoah #4 is located approximately 800 feet updip and 0.7 miles northwest of Shenandoah #2. Cobalt, as non-operator, holds a 20% working interest in Shenandoah. At Heidelberg, development drilling and production facility construction continue and remain on schedule to support initial production in the first half of 2016. The Heidelberg production facility is designed to produce up to 80,000 barrels of oil and 80 million cubic feet of gas per day. Cobalt, as non-operator, holds a 9.375% working interest in Heidelberg.


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