Cobalt Falls as More Gas Than Expected Flows in Angola
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Cobalt International Energy Inc. slumped the most in more than three years after the U.S. explorer said its latest discovery off the coast of Angola contained more natural gas than it expected.
The Lontra well flowed at a rate of 2,500 barrels of condensate and 39 million cubic feet of gas a day during tests, the Houston-based company said yesterday in a statement.