LNG, Oil & Gas, M&A Market Intelligence Specialist

Massimo Bellino

Event-Driven

Cobalt International Energy / Event-Driven

<p><strong>Fighting for survival</strong>. <a href="https://www.smartkarma.com/entities/9472" target="_blank" data-smartkarma-citation="entities:9472:1">Cobalt International Energy (CIE US)</a>’s strategy to navigate the low oil price cycle seemed to work out perfectly when the sale of its Angolan assets was announced in the summer of 2015. The $1.75bn proceeds would have been enough to fund both appraisal drilling activities up to first production of its key assets in the Gulf of Mexico (GoM) and pursue new opportunities. As the August ‘16 deadline to receive the deal’s approval from the Angolan government approached, the…</p>

Fighting for survival. Cobalt International Energy (CIE US)’s strategy to navigate the low oil price cycle seemed to work out perfectly when the sale of its Angolan assets was announced in the summer of 2015. The $1.75bn proceeds would have been enough to fund both appraisal drilling activities up to first production of its key assets in the Gulf of Mexico (GoM) and pursue new opportunities. As the August ‘16 deadline to receive the deal’s approval from the Angolan government approached, the…

Cobalt International Energy: Assessing High-Risk, High-Reward Upside from the Asset Sale in Angola