Cobalt International Energy Q3 Loss Widens

(RTTNews) - Cobalt International Energy, Inc.(CIE), Monday reported a wider net loss for the third-quarter, reflecting impairment charges.

For the three-month period, the company reported net loss of $160 million or $0.39 per share, compared with $39 million or $0.10 per share loss last year. The company said that the current quarter included $108 million, or $0.27 per share for the impairment of expenditures, including $94 million lease associated costs.

On average, sixteen analysts polled by Thomson Reuters expected the company to report loss per share of $0.17 for the quarter. Analysts' estimates typically exclude one-time items.

Operating loss was $145.6 million, compared with $40.5 million a year ago.