920 Memorial City Way, Suite 100
Houston, TX 77024
Operating in the deepwater regions of the Gulf of Mexico and West Africa, Cobalt International Energy specializes in the exploration of oil. Headquartered in Houston, TX, Cobalt has primarily been an oil exploration company since its inception in 2005, but the company is focusing on expanding its services to include new project development and oil production projects.
Cobalt’s oil exploration business is operated through the use of its assets that feature deepwater subsalt and pre-salt regions. To acquire these assets, Cobalt utilizes subsurface and seismic data to determine key regions which may contain valuable oil reservoirs.
In 2011, the Securities and Exchange Commission (SEC) filed an investigation order against Cobalt due to an allegation that they had violated the Foreign Corrupt Practices Act. Cobalt, the SEC alleged, had access to its Angola oil wells due to the bribery of foreign officials. In January of 2015, the SEC dropped its investigation although there is a parallel investigation being conducted by the US Justice Department.