Cobalt International Energy, Inc. operates as an independent exploration and production company. The company has operations in the deepwater U.S. Gulf of Mexico. The company’s 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. U.S. Gulf of Mexico Heidelberg: The Heidelberg field is located approximately 160 miles south of the Louisiana coast in 5,300 feet of water and covers Green Canyon Blocks 859, 903 and 904. As of December 31, 2015, the company had 5.6 million barrels (MMBbls) of oil, 0.3 MMBbls of natural gas liquids (NGLs) and 1.8 billion cubic feet (Bcf) of gas of net proved undeveloped reserves attributed to the Heidelberg field. The company owns a 9.375% working interest in the Heidelberg field. North Platte: In 2012, the company announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater U.S. Gulf of Mexico. The North Platte #1 exploration well is located in approximately 4,400 feet of water and was drilled to a total depth of approximately 34,500 feet. The company is the operator of North Platte and owns a 60% working interest. Shenandoah: The Shenandoah field is located approximately 200 miles south of the Louisiana coast in 5,800 feet of water in the Walker Ridge area. This well, located in approximately 5,750 feet of water in Walker Ridge Block 52, was drilled to approximately 30,000 feet. The Shenandoah #4 appraisal well was drilled in 2015 and tested the updip extent of the basin. The company owns a 20% non-operated working interest in the Shenandoah field. Anchor: The Anchor field is located approximately 140 miles from the Louisiana coast in 5,183 feet of water. The initial Anchor exploration well was drilled in late 2014 to a total depth of 33,749 feet and encountered 690 feet of net oil pay in multiple Inboard Lower Tertiary horizons. The company owns a 20% non-operated working interest in the Anchor discovery unit. Exploration Goodfellow: The Goodfellow #1 exploration well would target Inboard Lower Tertiary horizons. The Goodfellow prospect is a 3-way closure against a salt weld trap located in Keathley Canyon Blocks 129, 173 and Walker Ridge Blocks 89, 90, 133. The Goodfellow prospect is located approximately 18 miles southwest of the company’s Shenandoah discovery in the Walker Ridge area. The company is the operator and owns a 47% working interest in the Goodfellow prospect. Anchor South. The potential exists for the Anchor reservoir to extend south onto Green Canyon Blocks 850 and 851 which the company operates and has working interests of 100% and 70%, respectively. Leasehold Acreage As of December 31, 2015, the company owned interests in 233 blocks within the deepwater U.S. Gulf of Mexico, representing approximately 1.3 million gross (0.7 million net) acres. The company is the designated operator of 213 of these blocks, or approximately 91% of its U.S. Gulf of Mexico leasehold acreage. Most of the company’s U.S. Gulf of Mexico blocks have a 10-year primary term, expiring between 2016 and 2025. Strategic Relationship In 2009, the company announced a long-term alliance with TOTAL E&P USA, INC. (Total) in which, through a series of transactions, it combined its respective U.S. Gulf of Mexico exploration lease inventory (which excludes its Heidelberg project, its Shenandoah project, and all developed or producing properties held by Total in the U.S. Gulf of Mexico) through the exchange of a 40% interest in its leases for a 60% interest in Total’s leases. West Africa Block 21 Offshore Angola Cameia: The company is the operator of and holds a 40% working interest in the Cameia project. Its partner in the Cameia project is Sonangol Pesquisa e Produção, S.A. (Sonangol P&P), with a 60% working interest. Bicuar: The company is the operator of and has a 40% working interest in the Bicuar discovery. The company’s partner in Bicuar is Sonangol P&P, with a 60% wo
cobalt international energy
920 Memorial City Way
Houston, TX 77024
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