Kosmos Energy Limited Drilling Update (8548D)
February 05 2018 - 1:00AM
UK Regulatory
TIDMKOS
RNS Number : 8548D
Kosmos Energy Limited
05 February 2018
Kosmos ENERGY FINISHES DRILLING REQUIN TIGRE-1 EXPLORATION
WELL
OFFSHORE SENEGAL
DALLAS - February 5, 2018 - Kosmos Energy (NYSE/LSE: KOS)
announced today that it has completed drilling the Requin Tigre-1
exploration well located in Senegal's Saint Louis Offshore Profond
block.
Requin Tigre-1 was drilled to a total depth of 5,200 meters and
was designed to evaluate Cenomanian and Albian reservoirs in a
structural-stratigraphic trap, charged from an underlying
Neocomian-Valanginian source kitchen. The prospect was fully tested
but did not encounter hydrocarbons. Post-well analysis is currently
ongoing to determine the reasons it was unsuccessful. The
exploration insights from the well, together with our existing
knowledge will provide competitive advantage, and meaningfully
advance our working understanding of the deepwater Cretaceous
petroleum systems offshore Mauritania and Senegal where we believe
there is substantial remaining prospectivity in the Company's large
acreage position.
Andrew G. Inglis, chairman and chief executive officer, said:
"With each exploration well drilled, we deepen our understanding of
this newly emerging basin, further refining our geologic model and
geophysical tools. Requin Tigre was the last well in our second
phase of exploration of the deepwater Cretaceous petroleum systems
offshore Mauritania and Senegal targeting large basin floor fan
structures. We have delivered one success (Yakaar) in four wells in
this second phase program, following three successes in three wells
(Tortue, Marsouin, Teranga) in the first phase program targeting
inboard structures on the slope. Overall we have discovered gross
resource of 40 trillion cubic feet, at a net cost of $0.20 per
barrel of oil equivalent benefiting from the partner carry, and
have created the potential for two world scale LNG hubs. We will
rigorously evaluate our large inventory of prospects across
Mauritania and Senegal ahead of the next phase of exploration
offshore the two countries".
Kosmos was fully carried on the cost of the Requin Tigre
well.
The drillship will proceed as planned to test two oil prospects
offshore Suriname commencing in early second quarter 2018.
Kosmos holds an effective 30% participating interest in the
Saint Louis Offshore Profond license. BP holds a 60% participating
interest. The national oil company Société des Pétroles du Sénégal
(Petrosen) holds 10%.
About Kosmos Energy
Kosmos is a leading independent oil and gas exploration and
production company focused on frontier and emerging areas along the
Atlantic Margin. Our assets include existing production and
development projects offshore Ghana and Equatorial Guinea, large
discoveries offshore Mauritania and Senegal, as well as exploration
licenses with significant hydrocarbon potential offshore Suriname,
Sao Tome and Principe, Equatorial Guinea, Morocco and Western
Sahara. As an ethical and transparent company, Kosmos is committed
to doing things the right way. The Company's Business Principles
articulate our commitment to transparency, ethics, human rights,
safety and the environment. Read more about this commitment in the
Kosmos 2016 Corporate Responsibility Report. For additional
information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements,
other than statements of historical facts, included in this press
release that address activities, events or developments that Kosmos
expects, believes or anticipates will or may occur in the future
are forward-looking statements. Kosmos' estimates and
forward-looking statements are mainly based on its current
expectations and estimates of future events and trends, which
affect or may affect its businesses and operations. Although Kosmos
believes that these estimates and forward-looking statements are
based upon reasonable assumptions, they are subject to several
risks and uncertainties and are made in light of information
currently available to Kosmos. When used in this press release, the
words "anticipate," "believe," "intend," "expect," "plan," "will"
or other similar words are intended to identify forward-looking
statements. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of
Kosmos, which may cause actual results to differ materially from
those implied or expressed by the forward-looking statements.
Further information on such assumptions, risks and uncertainties is
available in Kosmos' Securities and Exchange Commission ("SEC")
filings. Kosmos undertakes no obligation and does not intend to
update or correct these forward-looking statements to reflect
events or circumstances occurring after the date of this press
release, except as required by applicable law. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
Inside Information
This announcement contains inside information. The person
responsible for arranging the release of this announcement is Jamie
Buckland, Vice President, Investor Relations.
###
CONTACT:
Investor Relations
Jamie Buckland
+44 (0) 203 954 2831
jbuckland@kosmosenergy.com
Rhys Williams
+1-214-445-9693
rwilliams@kosmosenergy.com
Media Relations
Thomas Golembeski
+1-214-445-9674
tgolembeski@kosmosenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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