Cobalt International Energy
Cobalt International Energy is a company specializing in deepwater exploration and appraisal, with significant operations in the Gulf of Mexico and offshore Angola.
Cobalt International Energy Services
Cobalt International Energy focuses on deepwater exploration and appraisal. It has built a strong portfolio in this area, largely through acquiring and processing high-quality seismic data and technology. The company operates the majority of its assets to influence the pace of operations and enhance their value. Their services are aimed at discovering and developing oil and gas resources in some of the most challenging environments, such as the Gulf of Mexico and offshore Angola.
Deepwater Exploration Projects
Cobalt International Energy holds lease interests in approximately 125 deepwater blocks in the Inboard Lower Tertiary and Miocene plays in the Gulf of Mexico. They operate over 85 percent of their Gulf of Mexico leases. Notable projects include the Heidelberg field, which began production in January 2016, and the North Platte discovery well, which encountered over 550 net feet of oil pay. Additionally, their Anchor and Shenandoah discovery wells have identified significant high-quality pay in multiple reservoirs.
Activities in the Kwanza Basin, Angola
Cobalt International Energy is actively involved in the northern pre-salt Kwanza Basin offshore Angola. The company holds a 40 percent working interest in two blocks—20 and 21—covering about 2.4 million acres. Key findings include the Cameia #1 well, confirming a large pre-salt hydrocarbon reservoir, and the Orca #1 well, which is the largest oil discovery to date in the Kwanza Basin. With several exploratory and appraisal wells drilled, Cobalt continues to advance its operations in this highly prospective area.
Significant Discoveries
Cobalt International Energy has made several significant discoveries. The Orca #1 well in Angola, with an estimated resource potential of 400 – 700 MMBO, is the largest oil discovery in the Kwanza Basin. In the Gulf of Mexico, the Heidelberg field commenced production in 2016, marking the company's first revenue-producing project. They have also made significant discoveries in Gabon, where the Diaman #1 well confirmed the existence of a working petroleum system, validating the resource potential of their 2.2 million-acre Diaba license.
Technological Investments
Since its inception, Cobalt International Energy has invested over $400 million in acquiring and processing high-quality seismic data and technology. This investment underpins their exploration efforts, enabling them to build a world-class deepwater portfolio. Their technological initiatives are crucial in identifying and appraising oil and gas resources, ensuring efficient and effective operations in the Gulf of Mexico and offshore Angola. These technological assets contribute significantly to their ability to operate the majority of their assets and influence the pace and efficiency of their projects.