Petroleum Africa
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Wednesday, November 2, 2016
Cobalt International Energy opened a data room and has been actively marketing its 40% working interest in Angolan Blocks 20 and 21. The company is pleased with the level of industry interest in these liquid-rich assets.
In addition, Cobalt expects to spend approximately $130-140 million on a net basis for operations on Angola Blocks 20 and 21, of which approximately $130 million has been spent as of September 30.
Cash, cash equivalents, investments, and restricted cash at the end of the third quarter were approximately $683 million. This includes $250 million of Angolan sale proceeds received prior to the close of the sale, but excludes approximately $17 million held in discontinued operations
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