Cobalt reports change in board of directors

Cobalt International Energy Inc.

Cobalt International Energy Inc. (NYSE:CIE) reports that Kenneth A. Pontarelli and Peter R. Coneway have resigned from its board of directors, each effective Jan. 28.

Pontarelli is a managing director in the Merchant Banking division of Goldman, Sachs & Co., and has been a director of Cobalt since our inception in November 2005. Coneway is a managing director of Riverstone LLC, and has been a director of Cobalt since October 2009.

As a result of these resignations, the size of the board has been reduced from 11 to nine directors. The two founding sponsors who remain represented on Cobalt’s board control a combined total of 10% of Cobalt’s outstanding shares.

Cobalt is an independent exploration and production company active in the deepwater US Gulf of Mexico and offshore Angola and Gabon in West Africa. 

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