17 July 2018substantial holder notice● Neutral
Qin Hui disclosed a new substantial Cobalt International Energy, Inc. shareholding (19.15% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Mar 2018listing compliance notice▼ BadMajor
Cobalt International Energy, Inc. terminated the registration of a class of securities, ending its reporting obligation for them.
22 Feb 2018securities registration● Neutral
Cobalt International Energy, Inc. amended an already-effective registration statement.
21 Feb 2018director interest notice● Neutral
Cobalt International Energy, Inc. EVP, General Counsel & Sec. Jeffrey A. Starzec had 280 shares withheld for taxes on vesting stock.
21 Feb 2018director interest notice● Neutral
Cobalt International Energy, Inc. Senior Vice President Richard Anthony Smith had 155 shares withheld for taxes on vesting stock.
14 Feb 2018substantial holder notice● Neutral
Carlson Capital, L.P, Asgard Investment Corp, Asgard Investment Corp. II, Clint D. Carlson reported no remaining Cobalt International Energy, Inc. shareholding in its periodic institutional filing.
14 Feb 2018substantial holder notice● Neutral
Paulson & Co. Inc reported a Cobalt International Energy, Inc. shareholding of 2,046,394 shares (6.84% of votes) in a periodic institutional filing.
3 Jan 2018director interest notice● Neutral
Cobalt International Energy, Inc. EVP, General Counsel & Sec. Jeffrey A. Starzec had 180 shares withheld for taxes on vesting stock.
3 Jan 2018director interest notice● Neutral
Cobalt International Energy, Inc. Senior Vice President Richard Anthony Smith had 191 shares withheld for taxes on vesting stock.
2 Jan 2018listing compliance notice● NeutralMajor
Cobalt International Energy, Inc.'s exchange filed to remove a class of its securities from listing.
20 Dec 2017material agreement▼ BadMajor
Five days into bankruptcy, Cobalt agreed with Sonangol to transfer its Angola Blocks 20 and 21 for $500 million, paid as $150 million by February 2018 and $350 million by July 2018, subject to court approval. The receivables arbitration would end, but the sale-agreement arbitration was only extended.
14 Dec 2017bankruptcy or receivership▼ BadMajor
Cobalt filed for Chapter 11 in Houston on 14 December 2017, accelerating $500 million of first lien notes, $935 million of second lien notes and $1.41 billion of remaining convertibles - about $2.84 billion in all - and the NYSE moved to delist it the day before. This was an exploration company that raised and spent billions and never built a business that paid for itself: no cash flow, a failed $1.75 billion Angola sale, a rig contract it had to buy its way out of, and reserves that its own lenders would no longer value highly enough to lend against.
8 Dec 2017substantial holder notice● Neutral
Hotchkis and Wiley Capital Management, LLC reported a Cobalt International Energy, Inc. shareholding of 1,494,414 shares (4.99% of votes) in a periodic institutional filing.
30 Nov 2017director interest notice● Neutral
Paul Keglevic became a Cobalt International Energy, Inc. director and company insider (initial ownership filing).
2 Nov 2017quarterly activities report▼ Bad
Cobalt International Energy, Inc. reported quarterly revenue of $15.8 million and a net loss of $326.8 million for the period ended 2017-12-31.
2 Nov 2017quarterly activities report▼ Bad
Cobalt International Energy, Inc. reported quarterly revenue of $15.8 million and a net loss of $326.8 million for the period ended 2017-12-31.
11 Oct 2017listing compliance notice▼ BadMajor
A second listing breach, this one more serious: the whole company was now worth less than $50 million on the market, and its book equity was below $50 million too. Cobalt raised over $2 billion of equity in its life and the market was valuing what remained at less than one bad well's cost.
4 Oct 2017director interest notice● Neutral
Cobalt International Energy, Inc. director Myles W Scoggins received 18,248 shares as part of the equity award.
4 Oct 2017director interest notice● Neutral
Cobalt International Energy, Inc. director Jon A Marshall received 21,898 shares as part of the equity award.
18 Aug 2017director interest notice● Neutral
Cobalt International Energy, Inc. President, Operations Rodney M. Skaufel sold 1,520 shares at $2.19.
8 Aug 2017quarterly activities report▼ Bad
Cobalt International Energy, Inc. reported quarterly revenue of $14.4 million and a net loss of $149.6 million for the period ended 2017-09-30.
8 Aug 2017quarterly activities report▼ Bad
Cobalt International Energy, Inc. reported quarterly revenue of $14.4 million and a net loss of $149.6 million for the period ended 2017-09-30.
12 July 2017director interest notice● Neutral
Cobalt International Energy, Inc. Chief Financial Officer David D. Powell sold 866 shares at $2.19.
10 July 2017substantial holder notice● Neutral
BlackRock, Inc reported a Cobalt International Energy, Inc. shareholding of 385,748 shares (1.30% of votes) in a periodic institutional filing.
7 July 2017director interest notice● Neutral
Cobalt International Energy, Inc. Chief Executive Officer Timothy J. Cutt sold 20,735 shares at $2.34.
6 July 2017director interest notice● Neutral
Cobalt International Energy, Inc. director Jon A Marshall received 11,952 shares as part of the equity award.
6 July 2017director interest notice● Neutral
Cobalt International Energy, Inc. director Myles W Scoggins received 9,960 shares as part of the equity award.
19 June 2017material agreement termination● Neutral
This amendment corrects a typo in the earlier 8-K about Total E&P USA ending its Gulf of Mexico Program Management and AMI Agreement with Cobalt, effective 12 June 2017. The termination right cited is now Section 7.2(d) instead of 7.2(b). The agreement dates from April 2009, when Cobalt swapped a 40% interest in its leases for a 60% interest in Total's, and it covered substantially all of the deepwater US Gulf of Mexico. The filing says Total's obligations were mainly paying its share of certain Gulf of Mexico general and administrative costs; it does not state the impact on the lease interests or on Cobalt's finances.
18 May 2017debt financing▼ BadMajor
A fourth and final exchange, and the filing says why it was the last: Cobalt had used up all the room its own indentures allowed for issuing more second lien debt. Total face value cut by $339 million since December, and no mechanism left to cut more. The out-of-court route was closed.
9 May 2017substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP reported a Cobalt International Energy, Inc. shareholding of 18,573,332 shares (4.14% of votes) in a periodic institutional filing.