Goldman Comments on Cobalt International Energy (CIE) Lontra Test
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Credit Suisse Downgrades Cobalt International Energy (CIE) to Neutral
December 3, 2013 8:20 AM ESTCredit Suisse downgraded Cobalt International Energy (NYSE: CIE) from Outperform to Neutral with a price target of $26.00 (from $40.00).
For an analyst ratings summary and ratings history on Cobalt International Energy click here. For more ratings... More
Cobalt International Energy (CIE) Opens in Red Following Lontra Results and Conference Call
December 2, 2013 9:41 AM ESTCobalt International Energy, Inc. (NYSE: CIE) confirmed this weekend that it has successfully tested its previously announced Lontra #1 Pre-salt discovery well in Block 20, offshore Angola. During the recently completed drill stem test, the Lontra well produced at a stabilized flow rate of 2,500 barrels per day of condensate and 39 million cubic feet per day of gas. The flow rates were significantly restricted by the surface test facilities on the SSV Catarina drilling rig.
The Lontra #1 exploratory well was drilled to a total depth of 4,195 meters (13,763 feet) and penetrated approximately 75 meters (250 feet) of... More