Cobalt announces $577.9 million in winning bids for company assets

By Caroline Salls

Pittsburgh, March 7 – Cobalt International Energy, Inc. announced the high bidders for its assets in a notice filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company said W&T Offshore, Inc. submitted a $31.1 million high bid for its Heidelberg assets.

Navitas Petroleum US, LLC submitted a $1.8 million high bid for Cobalt’s Shenandoah assets.

Total E&P USA, Inc. and Statoil Gulf of Mexico LLC submitted a $339 million high bid for the North Platte assets.

In addition, Total E&P submitted a $181 million high bid for the company’s Anchor assets and a $25 million high bid for its exploration assets.

Cobalt is a Houston-based exploration and production company active in the deepwater section of the Gulf of Mexico and offshore of west Africa. The company filed bankruptcy on Dec. 14, 2017 under Chapter 11 case number 17-36709.

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