Oil explorer Cobalt posts smaller loss on lower expenses
July 30 (Reuters) - Oil explorer Cobalt International Energy Inc reported a smaller second-quarter loss as its expenses more than halved.
The company's net loss narrowed to $79 million, or 19 cents per share, in the quarter ended June 30, from $141 million, or 35 cents per share, a year earlier.
Cobalt has no oil and gas revenue as its assets are yet to begin production.
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