Cobalt International Energy (CIE) Misses Q2 EPS by 38c

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Go back to Cobalt International Energy (CIE) Misses Q2 EPS by 38c

Cobalt International Energy, Inc. Announces Second Quarter 2016 Results and Provides Operational Update

August 2, 2016 6:45 AM EDT

HOUSTON--(BUSINESS WIRE)-- Cobalt International Energy, Inc. (Cobalt) (NYSE: CIE) today announced a net loss from continuing operations of $200.4 million, or $0.49 per basic and diluted share for the second quarter of 2016, compared to a net loss from continuing operations of $53.4 million, or $0.13 per basic and diluted share, for the second quarter of 2015. The increase in loss is mainly attributable to the write off associated with Goodfellow, totaling approximately $149.9 million or $0.37 per share, as discussed further below.

Capital and operating expenditures (excluding changes in working capital) from continuing operations for the quarter ending June 30, 2016 were... More