HOUSTON, Apr 15, 2011 (BUSINESS WIRE) --

Cobalt International Energy, Inc. ("Cobalt") (NYSE:CIE) today announced the closing of its previously announced registered underwritten public offering of its common stock. Cobalt sold a total of 35,650,000 shares of its common stock in this offering, including 4,650,000 shares sold pursuant to the exercise of the underwriters' over-allotment option in its entirety. The offering resulted in total gross proceeds to Cobalt, before underwriting discounts and offering expenses, of approximately $499.1 million, which Cobalt intends to use to fund its capital expenditures and for general corporate purposes.

Morgan Stanley & Co. Incorporated, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC and Citigroup Global Markets Inc. acted as joint book-running managers of the offering.

About Cobalt

Cobalt is an independent oil exploration and production company focusing on 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 the United States Private Securities Litigation Reform Act of 1995 -- 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. 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.

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