HOUSTON–(BUSINESS WIRE)–Cobalt International Energy, Inc. (Cobalt) (NYSE:CIE) today announced
that it and certain of its U.S. affiliates filed voluntary petitions for
relief under chapter 11 of the United States Bankruptcy Code in the
United States Bankruptcy Court for the Southern District of Texas (the
Chapter 11 Cases). Cobalt expects to conduct business in the ordinary
course, and its cash on hand is expected to provide Cobalt with adequate
liquidity to fund its operations during the restructuring process. The
Chapter 11 Cases are expected to facilitate the restructuring process
and the proposed sale of Cobalts assets.
Cobalt has been engaged i…
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