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Baker Botts Announces Closure of DOJ Investigation of Cobalt International Energy, Inc.

Release

HOUSTON, February 9, 2017 - Baker Botts L.L.P., a leading international law firm, today announced that the United States Department of Justice (“DOJ”) advised that it has closed the investigation into the Angolan operations of firm client, Cobalt International Energy, Inc. (“Cobalt”) (NYSE: CIE) without any action.

This concludes the DOJ investigation of Cobalt and with it all FCPA investigations by U.S. regulatory agencies into Cobalt’s Angolan operations.

“We are delighted that the Department of Justice, like the Securities and Exchange Commission, has concluded its investigation and is taking no action,” said Michael Goldberg, a Partner based in Baker Botts' Houston and New York City offices and Co-Chair of the firm's International Dispute Resolution group.

The DOJ and the United States Securities and Exchange Commission (“SEC”) began investigating Cobalt’s operations in Angola in 2011 in response to allegations of a connection between senior Angolan government officials and Nazaki Oil and Gaz, S.A., an Angolan company that, until 2014, held a working interest alongside Cobalt on Blocks 9 and 21 offshore Angola. In January 2015, the SEC investigation also concluded without any enforcement action.

The Baker Botts team included Michael Goldberg, Partner (Houston and New York), Russell Lewis, Partner (Houston) and Sarah Coble, Associate (Houston), along with Jeremy Levin, formerly with the Firm’s Washington office.  Numerous other lawyers and paralegals in Houston and Washington provided invaluable assistance throughout the duration of the matter.

 

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 650 lawyers practicing throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology, and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

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