Cobalt International Energy (CIE) Misses Q4 EPS by 6c, Says Shenandoah #2R Well Results 'Very Encouraging'

February 26, 2013 7:09 AM EST
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Cobalt International Energy (NYSE: CIE) reported Q4 EPS of ($0.16), $0.06 worse than the analyst estimate of ($0.10).

Cobalt today provided an update regarding its Shenandoah #2R appraisal well, located in Walker Ridge Block 51 in the deepwater Gulf of Mexico. While evaluation operations are still ongoing in this well, wireline evaluation results received thus far are very encouraging.

The Shenandoah #2R appraisal well was drilled as a straight hole to a total depth of 31,400 feet in approximately 5,800 feet of water, about 1.3 miles southwest of the Shenandoah #1 discovery well. The Shenandoah #1 discovery well was drilled in early 2009 on Walker Ridge Block 52 and encountered nearly 300 net feet of Inboard Lower Tertiary oil pay.

For earnings history and earnings-related data on Cobalt International Energy (CIE) click here.

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