United States

Cobalt International Energy Inc (CIE)

CIE on New York Consolidated

25 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Agreement between Unit Cobalt International Energy Angola and Sonangol terminated
Tuesday, 23 Aug 2016 06:37am EDT 

Cobalt International Energy Inc: On aug 22, 2016, purchase and sale agreement between unit cobalt international energy angola ltd. And sonangol was automatically terminated . Cobalt international energy inc says in accordance with the purchase and sale agreement, sonangol had previously paid the company $250.0 million . As requisite angolan government approvals were not received within one year, purchase and sale agreement automatically terminated .Cobalt international energy says plans to work with sonangol to understand and agree on the financial and operational implications of the termination.  Full Article

Cobalt International reports Q2 loss per share $0.50
Tuesday, 2 Aug 2016 06:45am EDT 

Cobalt International Energy Inc : Quarterly loss per share $0.50 . Q2 loss per share $0.49 from continuing operations . Q2 earnings per share view $-0.11 -- Thomson Reuters I/B/E/S . Updated full year guidance for capital expenditures of about $500 million to $550 million in 2016 .Q2 earnings per share view $-0.11, revenue view $5.2 million -- Thomson Reuters I/B/E/S.  Full Article

Cobalt International Energy's unit terminates borrowing base facility agreement
Friday, 17 Jun 2016 04:15pm EDT 

Cobalt International Energy : Unit terminated borrowing base facility agreement providing for limited recourse $150 million reserve-based term loan facility . Agreement was expected to be materially reduced to level that would not justify ongoing expense of maintaining facility . No borrowings were outstanding under facility agreement at the time of termination Source: (http://1.usa.gov/1PyKgLY ) Further company coverage: [CIE.N] (Bengaluru Newsroom: +1 646 223 8780).  Full Article

Cobalt International Energy CEO Timothy Cutt to be paid annual base salary of $1 mln
Tuesday, 31 May 2016 06:00am EDT 

Cobalt International Energy Inc :Cobalt International Energy ceo Timothy Cutt to be paid annual base salary of $1 mln - sec filing.  Full Article

Cobalt International Energy Inc anticipates total workforce reduction of approximately 50 percent - Reuters
Monday, 22 Feb 2016 07:29am EST 

Cobalt International Energy Inc:Has identified about $100 million of reduced expenditures for 2016, which are reflected in 2016 capex guidance - RTRS.Anticipates total workforce reduction of approximately 50 percent as compared to pre-Angola sale workforce.  Full Article

Cobalt International Energy Inc Misled Shareholders According to a Recently Filed Class Action - ASSOPR
Wednesday, 10 Feb 2016 05:16am EST 

Cobalt International Energy Inc:Shareholder rights law firm Robbins Arroyo LLP announces that a class action complaint was filed in the U.S. District Court for the Southern District of Texas, Houston Division. - ASSOPR.The complaint alleges that officers and directors of Cobalt International Energy violated the Securities Exchange Act of 1934 and the Securities Act of 1933 between March 1, 2011 and November 3, 2014, by making materially false and misleading statements about Cobalt's business prospects - ASSOPR.According to the complaint, in October 2009, Cobalt announced that it would be developing oil fields in Angola, one of the most corrupt countries in the world, pursuant to a partnership with Sonangol, Angola's state-run oil company, and two other entities, Nazaki and Alper - ASSOPR.The complaint alleges that Cobalt repeatedly emphasized the strength of the partnership and the legitimacy of its Angolan operations - ASSOPR.And denied allegations that Nazaki and Alper were secretly owned and controlled by the head of Sonangol, Manuel Vicente, and two other senior Angolan government officials, General Kopelipa and General Dino - ASSOPR.If true, these allegations meant that Cobalt used sham partners and may have violated the Foreign Corrupt Practices Act of 1977, which prohibits funneling money to foreign officials in order to secure a business advantage - ASSOPR.  Full Article

BRIEF-Cobalt International Energy posts Q2 loss per share $6.28

* Cobalt International Energy Inc announces second quarter 2017 results and provides operational update