Cobalt International Energy is keenly weighing a range of options to develop its North Platte discovery in the US Gulf of Mexico after a second strong appraisal result, saying it believes decreasing costs mean the find can be developed for a breakeven price in the low $40s per barrel range.
Executives with the US independent said the discovery in the deep-water Garden Banks area could be a strong candidate for a standalone facility, but could also be harnessed with other options including a tieback to nearby facilities for early production.
“The
