HOUSTON--(BUSINESS WIRE)--Jan. 6, 2015--
Cobalt International Energy, Inc. ("Cobalt") (NYSE:CIE) today announced
a very large oil discovery at its Anchor prospect in the deepwater U.S.
Gulf of Mexico. The Anchor #2 Well, located in Green Canyon Block 807,
was drilled to a total depth of 33,749 feet and encountered significant
high quality pay in multiple Inboard Lower Tertiary Wilcox Sands. The
Anchor discovery well is located approximately 140 miles from the
Louisiana coast in 5,183 feet of water.
This is Cobalt’s fourth significant subsalt discovery in the deepwater
Gulf of Mexico. Cobalt owns a 20 percent working interest in the Anchor
Unit. Partners include Chevron U.S.A. Inc., as Operator (55 percent),
Samson Offshore Anchor, LLC (12.5 percent) and Venari Resources LLC
“The Anchor discovery well is clearly one of the best wells we’ve
drilled to date in the deepwater Gulf of Mexico. This exceptional
discovery is the result of many years of hard work to identify and
mature this exciting prospect and to successfully acquire and unitize
the Anchor leases. I am so proud of the entire Cobalt team whose efforts
resulted in this exciting discovery,” said James W. Farnsworth, Chief
Exploration Officer. “Cobalt’s outstanding portfolio of deepwater Gulf
of Mexico discoveries, which includes Heidelberg, Shenandoah, North
Platte and now Anchor, is among industry’s best opportunities to provide
long term growth in high value Gulf of Mexico barrels. We look forward
to the 2016 commencement of production from Heidelberg, as it will
represent Cobalt’s first production and revenue.”
Also in the deepwater Gulf of Mexico, Cobalt anticipates spudding the
first appraisal well on its North Platte Inboard Lower Tertiary
discovery in the first quarter of 2015 with the new-build Rowan Reliance
drillship. This appraisal well will be drilled in Garden Banks Block 959.
In Angola Block 21, the Mupa #1 exploratory well encountered a
non-commercial hydrocarbon bearing zone and has been plugged and
abandoned. Cobalt moved the Petroserv SSV Catarina rig to Angola Block
20 where it is currently drilling the Orca #2 appraisal well. This is
Cobalt’s first appraisal well drilled on its significant Orca Pre-salt
discovery in the Kwanza Basin that Cobalt announced last year.
Block 21 is operated by Cobalt (40 percent) in partnership with Sonangol
Pesquisa e Produção S.A. (60 percent). Block 20 is operated by Cobalt
(40 percent) in partnership with Sonangol Pesquisa e Produção S.A. (30
percent) and BP Exploration Angola (Kwanza Benguela) Limited (30
Cobalt is an independent exploration and production company active in
the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon. Cobalt
was formed in 2005 and is headquartered in Houston, Texas.
Forward Looking Statements
This press release includes “forward-looking statements” within the
meaning of the safe harbor provisions of the Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934 — that is, statements related to future, not past, events.
Forward-looking statements are based on current expectations and include
any statement that does not directly relate to a current or historical
fact. In this context, forward-looking statements often address Cobalt’s
expected future business and financial performance, and often contain
words such as “anticipate,” “believe,” “intend,” “expect,” “plan,”
“will” or other similar words. These forward-looking statements involve
certain risks and uncertainties that ultimately may not prove to be
accurate. Actual results and future events could differ materially from
those anticipated in such statements. For further discussion of risks
and uncertainties, individuals should refer to Cobalt’s SEC filings.
Cobalt undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances occurring
after this press release, other than as required by law. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
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Source: Cobalt International Energy, Inc.
Cobalt International Energy, Inc.
Cordray, +1 713-579-9126
Director, Investor Relations
Lynne L. Hackedorn, +1 713-579-9115
Government and Public Affairs