Recently, the thirds quarter results of Cobalt International Energy INC (NYSE:CIE) were announced. The result depicted some of the statements which were forward looking for the company. Moreover, the risks which were associated with the forward looking statements have been outlined in the earnings report and also in the Cobalt International energy’s SEC filings.
Early in the year 2013, the management of Cobalt International Energy INC knew that this year is going to be one of the busiest years for the company talking in terms of impactful wells which were to be drilled by the company.
During the year, 3 deep water drilling rigs have been safely operated by the company. Moreover, more significant exploration wells were drilled in the U.S Gulf of Mexico and offshore Angola by the company. Out of the 4 wells found, 3 exploratory wells have proved to be a successful exploration of the company. Currently the company is having 11 unique exploration prospects in the 3 global basins. Out of these 11, 7 exploratory prospects have helped in yielding significant discoveries by the company.
The discoveries include Cameia, Mavinga and Lontra in Angola, Heidelberg, Shenandoah and North Platte in the Gulf of Mexico and Diaman in Gabon. This track record being hold by the company would prove to be an extraordinary publishing of the company.
The strategy being used by the company has always been used to acquire large and continuous increase positions, develop deep local knowledge while the company would be exploring for other assets which would help in aggregation of the significant global exploration and economic significance.
The Shenandoah and North Platte are the largest anchors in the Inboard Lower Tertiary in the Gulf of Mexico. Now, Mavinga, Cameia and Lontra in Angola’s Kwanza Basin also hold a lot of significance.
