Cobalt International Energy (CIE) Misses Q4 EPS by 5c; Reports Successful Heidelberg Well Appraisal
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Cobalt International Energy (NYSE: CIE) reported Q4 EPS of ($0.13), $0.05 worse than the analyst estimate of ($0.08).
Cobalt today announced the successful results of its Heidelberg appraisal well, located in Green Canyon block 903 in the deepwater Gulf of Mexico. This appraisal well, operated by Anadarko Petroleum Corporation, encountered approximately 250 net feet of oil pay in high-quality Miocene sands.
The well was drilled to a total depth of 31,030 feet in approximately 5,000 feet of water, about 1.5 miles south of the Heidelberg discovery well. Log and pressure data from the appraisal and discovery wells indicate excellent quality, continuous and pressure-connected reservoirs with the same high-quality oil. The initial Heidelberg discovery well was drilled in 2009 and encountered more than 200 net feet of oil pay. Anadarko announced that it plans to immediately sidetrack the well to determine the downdip extent of the field and also plans to initiate pre-FEED (front-end engineering and design) activities to prepare for sanctioning and a development project.
For earnings history and earnings-related data on Cobalt International Energy (CIE) click here.
Cobalt today announced the successful results of its Heidelberg appraisal well, located in Green Canyon block 903 in the deepwater Gulf of Mexico. This appraisal well, operated by Anadarko Petroleum Corporation, encountered approximately 250 net feet of oil pay in high-quality Miocene sands.
The well was drilled to a total depth of 31,030 feet in approximately 5,000 feet of water, about 1.5 miles south of the Heidelberg discovery well. Log and pressure data from the appraisal and discovery wells indicate excellent quality, continuous and pressure-connected reservoirs with the same high-quality oil. The initial Heidelberg discovery well was drilled in 2009 and encountered more than 200 net feet of oil pay. Anadarko announced that it plans to immediately sidetrack the well to determine the downdip extent of the field and also plans to initiate pre-FEED (front-end engineering and design) activities to prepare for sanctioning and a development project.
For earnings history and earnings-related data on Cobalt International Energy (CIE) click here.
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