Third Houston Energy CFO in Less than One Week to Resign

The third Houston-based oil and gas company in less than a week has had its chief financial officer leave voluntarily.

Cobalt International Energy Inc. has named Shannon E. Young, III as the new CFO and executive vice president to replace John P. Wilkirson, effective Sept. 1. Wilkirson is leaving the company to pursue other interests, according to a company statement. However, he will remain as a consultant to the company through October.

Cobalt’s announcement comes just one day after the exploration and production company signed an agreement to sell its 40 percent interest in two blocks of offshore Angola for $1.75 billion to the state-owned oil company Sonangol.

Young’s “deep experience in capital markets, investment banking and M&A will be put to full use as Cobalt continues to grow,” Cobalt’s chairman and CEO Joseph H. Bryant said in a company statement.

Bryant added that Young’s background is a perfect match for the company at this point in its life-cycle.    

Young currently serves as CFO and senior vice president for Talos Energy LLC. In addition, he has more than 20 years of experience as an investment banker at Goldman Sachs, Morgan Stanley and Salomon Brothers.

CFOs from Linn Energy, LLC and Goodrich Petroleum Corp. announced their resignations Aug. 24 and 19, respectively.

Valerie is an experienced writer and editor dedicated to providing useful and relevant career news about the oil and gas industry. Email Valerie at valerie.jones@rigzone.com

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