HOUSTON--(BUSINESS WIRE)--May 13, 2014-- Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today announced the closing of the previously announced registered underwritten public offering of $1,300,000,000 aggregate principal amount of its 3.125% convertible senior notes due 2024 (the “Notes”), which includes the exercise in full by the underwriters of their over-allotment option to purchase an additional $150,000,000 aggregate principal amount of the Notes.

Cobalt intends to use the aggregate net proceeds of approximately $1,269,750,000 from the sale of the Notes to fund its capital expenditures and for general corporate purposes.

Goldman, Sachs & Co. and RBC Capital Markets, LLC acted as joint book-running managers of the offering.

About Cobalt

Cobalt is an independent exploration and production company with operations in the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon in West Africa. 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 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 cautionary statement.

Source: Cobalt International Energy, Inc.

Cobalt International Energy, Inc.
Investor Relations:
John P. Wilkirson, +1-713-452-2322
Chief Financial Officer
or
Media Relations:
Lynne L. Hackedorn, +1-713-579-9115
Vice President, Government and Public Affairs