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.
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Copyright Business Wire 2018
Source: Business Wire
(February 5, 2018 - 2:00 AM EST)
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