Cobalt International Energy, Inc. Closes Convertible Senior Notes Offering

HOUSTON--()--Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today announced the closing of the previously announced registered underwritten public offering of $1,380,000,000 aggregate principal amount of its 2.625% convertible senior notes due 2019 (the “Notes”).

Cobalt intends to use the aggregate net proceeds of approximately $1,347,950,000 from the sale of the Notes to fund its capital expenditures and for general corporate purposes.

Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as joint book-running managers of the offering.

About Cobalt

Cobalt is an independent oil exploration and production company focusing on the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon in West Africa. Cobalt was formed in 2005 and is headquartered in Houston, Texas.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 — that is, statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address Cobalt’s expected future business and financial performance, and often contain words such as “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. For further discussion of risks and uncertainties, individuals should refer to Cobalt’s SEC filings. Cobalt undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release, other than as required by law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Contacts

Cobalt International Energy, Inc.
Investor Relations:
Richard A. Smith, +1 713-579-9141
Vice President, Investor Relations and Planning
or
Media Relations:
Lynne L. Hackedorn, +1 713-579-9115
Vice President, Government and Public Affairs

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Contacts

Cobalt International Energy, Inc.
Investor Relations:
Richard A. Smith, +1 713-579-9141
Vice President, Investor Relations and Planning
or
Media Relations:
Lynne L. Hackedorn, +1 713-579-9115
Vice President, Government and Public Affairs