Kosmos Energy Limited Kosmos Provides Update on Exploration Program (0249V)
31 October 2017 - 6:00PM
UK Regulatory
TIDMKOS
RNS Number : 0249V
Kosmos Energy Limited
31 October 2017
Kosmos ENERGY provides UPDATE ON EXPLORATION DRILLING PROGRAM
OFFSHORE MAURITANIA
DALLAS, Texas, October 30, 2017 - Kosmos Energy (NYSE/LSE: KOS)
announced today that it has completed drilling the Hippocampe-1
exploration well located in Block C-8 offshore Mauritania in
approximately 2,600 meters of water.
Designed to test Lower Cenomanian and Albian reservoirs charged
from the deeper Valanginian-Neocomian source, the Hippocampe-1 well
was drilled to a total depth of 5,500 meters. Well-developed
reservoirs were encountered in both exploration targets but these
proved to be water bearing. The well will now be plugged and
abandoned. It is believed that this prospect failed due to a lack
of charge access in this part of the play fairway.
Andrew G. Inglis, chairman and chief executive officer, said:
"Following on from our Yaakar discovery earlier this year,
Hippocampe-1 is the second of four tests of independent prospects
located in the outboard basin floor fan fairways in our Mauritania
and Senegal acreage. Although the well did not encounter oil or
gas, it has, together with Yaakar, confirmed the presence of
quality cretaceous reservoir in the outboard basin floor fans,
which contain multiple leads and prospects, more than 200
kilometers from the north to south through our blocks. We are still
in the early stages of opening this newly emerging basin and our
forward drilling program remains unchanged given the independent
nature of the prospect tests, in particular with regard to
charge."
The Ensco DS 12 drillship will now proceed as planned to Block
C-12 offshore Mauritania to test the independent Lamantin oil
prospect. The Lamantin prospect is located approximately 80
kilometers offshore and 180 kilometers northeast of Hippocampe in
2,185 meters of water. The prospect comprises Campanian age
reservoirs charged from the shallow, immediately underlying, oil
prone, oil mature Albian and Cenomanian-Turonian source rocks.
Kosmos holds rights in the C-6, C-8, C-12, C-13, and C-18
contract areas under production sharing contracts with the
Government of Mauritania's Société Mauritanienne Des Hydrocarbures
et de Patrimoine Minier (SMHPM). The blocks range in water depth
between 100 and 3,000 meters, and have combined acreage of over
40,000 square kilometers gross. Kosmos is the exploration operator
of Block C-8 with 28 percent equity and is joined by its partners
BP (LSE:BP) (62 percent) and SMPHM (10 percent).
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, large discoveries offshore
Mauritania and Senegal, as well as exploration licenses with
significant hydrocarbon potential offshore Suriname, Sao Tome and
Principe, 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. Kosmos is listed on the New York Stock
Exchange and the London Stock Exchange under the ticker symbol KOS.
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 Neal
Shah, Vice President, Finance and Treasurer.
###
CONTACT:
Investor Relations
Neal Shah
+1-214-445-9628
nshah@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
DRLOKKDQFBDDQKN
(END) Dow Jones Newswires
October 31, 2017 03:00 ET (07:00 GMT)
Kosmos Energy (LSE:KOS)
Historical Stock Chart
From Apr 2024 to May 2024
Kosmos Energy (LSE:KOS)
Historical Stock Chart
From May 2023 to May 2024