2015 ANNUAL REPORT: A DECADE OF DISCOVERY
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In November 2015, we celebrated Cobalt’s tenth anniversary of
its founding. During the past ten years, Cobalt’s explorers have
been some of the most successful in the world through discoveries
of large accumulations of oil and gas in the Inboard Lower
Tertiary trend in the U.S. Gulf of Mexico and in the Kwanza Basin
offshore Angola.
While we have faced and overcome many challenges over the past
ten years, today we are confronted by the challenges presented by
the prolonged downturn in oil and gas prices. We are aggressively
working to reduce our cost structure company-wide and position
ourselves to withstand a continued period of low oil and gas prices.
As we reflect upon past success, we are also looking to take
advantage of the exciting opportunities that the current
environment presents for Cobalt.
COBALT INTERNATIONAL
ENERGY, INC.
