Cobalt P&A’s GoM appraisal well after riser problem

Cobalt International Energy Inc. (NYSE:CIE) has P&A’d its North Platte #2 appraisal well in the deepwater Gulf of Mexico due to a seal failure in the riser connection system.

Apr 10th, 2015

Offshore staff

HOUSTON – Cobalt International Energy Inc. (NYSE:CIE) has P&A’d its North Platte #2 appraisal well in the deepwater Gulf of Mexico due to a seal failure in the riser connection system.

The well, which was being drilled with theRowan Reliance drillship, was at a depth of 20,701 ft (6,614 m) when the problem was detected.

Cobalt is currently permitting the North Platte #3 well approximately 200 ft (61 m) from the surface location of the North Platte #2. Assuming timely receipt of permit approval, the company anticipates spudding the North Platte #3 well within two weeks and continues to expect well results in the second half of 2015.

TheNorth Platte #1 discovery well was drilled in 2012 and encountered more than 550 net ft (168 net m) of oil pay in multiple Inboard Lower Tertiary reservoirs.

Cobalt, as operator, holds a 60% working interest in North Platte. Total has the remaining interest.

04/10/2015

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