Cobalt International Energy, Inc. Prices Common Stock Offering

Cobalt International Energy, Inc. announced the pricing of a registered underwritten public offering of 52,000,000 shares of its common stock. Cobalt has agreed to sell 15,700,000 shares of its common stock and the selling stockholders have agreed to sell 36,300,000 shares of Cobalt’s common stock, each at a public offering price of $28.00 per share. Total aggregate gross proceeds to Cobalt and the selling stockholders is approximately $1.5 billion. The underwriters of this offering have been granted an option, exercisable within 30 days, to purchase up to an additional 7,800,000 shares of common stock on the same terms and conditions to cover over-allotments, if any. Should this option be exercised, Cobalt will provide up to 2,350,000 shares of common stock to be sold pursuant to this option and certain of the selling stockholders will provide up to 5,450,000 shares of common stock to be sold pursuant to this option. Cobalt intends to use the net proceeds from its sale of shares of common stock to fund its capital expenditures and for general corporate purposes. Cobalt will not receive any proceeds from the sale of shares of common stock by the selling stockholders. The closing of the offering is expected to occur on February 29, 2012. Goldman, Sachs & Co., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers of the offering.