Cobalt’s CFO resigns

Cobalt International Energy, after the close of the market Tuesday, announced its chief financial officer is leaving “to pursue other interests.”

The Houston energy producer said John Wilkirson will step down from his role effective Sept. 1, but remain as a consultant through the end of October.

Cobalt also announced that Shannon (Shane) Young would take over as CFO. Young is currently in the same position at Houston’s Talos Energy.

In a statement, Cobalt CEO Joseph H. Bryant said: “I am extremely pleased that Shane has agreed to join Cobalt at this time of exceptional opportunity and challenge. Shane’s deep experience in capital markets, investment banking, and M&A will be put to full use as Cobalt continues to grow. His background is a perfect match for Cobalt at this point in our life-cycle.”

Added Wilkirson, in the statement: “My time at Cobalt has been truly special as the company matured from the private start-up to today’s successful public entity. During the past five years as CFO, I appreciated the opportunity to have led multiple significant and innovative financings. I feel the timing is right to make this transition.”

The move comes a day after Cobalt said it would sell its interest in offshore Angola for $1.75 billion to state-owned Sonangol. Cobalt is exiting Angola entirely in order to strengthen its finances and focus its exploration and production primarily in the deep-water Gulf of Mexico.

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