Cobalt strikes out at Gulf of Mexico well, shares -11% premarket

|About: Cobalt International Energy... (CIE)|By:, SA News Editor

Cobalt International Energy (CIE) -11.1% premarket after failing to find commercial oil or gas at its Ardennes-1 well in the Gulf of Mexico after reaching its objective total depth of ~36K feet.

CIE operates Ardennes-1 with a 42% interest, with ConocoPhillips (COP) holding 30% and Total (TOT) holding 28%.

CIE also says a well in which it partners with Total off Gabon had made a discovery.