Value Digger • 31 Comments
Aug. 24, 2015, 7:37 AM
- Cobalt International Energy (NYSE:CIE) agrees to sell its 40% stakes in a pair of Angolan offshore blocks to the country's state-run Sonangol for $1.75B.
- CIE says the agreement provides for a transition to a new operator and underscores the parties' commitment to attain the final investment decision for the Cameia development in Block 21/09 by year-end 2015 in order to deliver first oil from Cameia in 2018.
- CIE +3.6% premarket.
Apr. 25, 2013, 10:43 AMCobalt Energy (CIE +1.8%), which has doubled in value since going public in 2009 but still trades at a substantial discount to the value of its underlying assets, is turning into a takeover target for energy companies attracted to its oil finds from Africa to the Gulf of Mexico, Bloomberg writes. CIE’s assets are "a needle mover" for a large international player, Guggenheim says. | Apr. 25, 2013, 10:43 AM | 1 Comment
Dec. 6, 2012, 8:36 AM
Chevron (CVX), facing its longest slide in energy output in four years, could use its record cash to reignite growth by acquiring Cobalt Energy (CIE) or Kosmos Energy (KOS), Bloomberg speculates. “They're [CVX] going to have to come to the market because they haven’t returned the $21B on the balance sheet to shareholders," one analyst says. CIE +1% premarket.| Dec. 6, 2012, 8:36 AM