Kosmos Energy Announces Successful Appraisal of Gas Discovery Offshore Mauritania and Senegal
Completes Tortue West Gas Appraisal Drilling
Kosmos Energy (NYSE: KOS) announced today that its Ahmeyim-2 appraisal
well has successfully delineated the Ahmeyim and Guembeul gas
discoveries offshore Mauritania and Senegal.
Located in Mauritanian waters, approximately 5 kilometers northwest, and
200 meters downdip of the basin-opening Tortue-1 discovery well in
approximately 2,800 meters of water, Ahmeyim-2 was drilled to a total
depth of 5,200 meters. As anticipated, in the Lower Cenomanian and
Albian, Ahmeyim-2 penetrated the seismic-inferred gas-water contacts,
defining the field limit and extending the productive field area from
approximately 50 square kilometers to 90 square kilometers. Furthermore,
the well confirmed significant thickening of the gross reservoir
sequences down-structure and importantly, within the Lower Cenomanian,
static fluid pressure communication between the Tortue-1, Guembeul-1 and
Ahmeyim-2 wells. The well encountered 78 meters (256 feet) of net gas
pay in two excellent quality reservoirs, including 46 meters (151 feet)
in the Lower Cenomanian and 32 meters (105 feet) in the underlying
Albian. These results demonstrate field-wide reservoir continuity and
indicate Tortue West is a large, simple gas field.
With the integration of the Ahmeyim-2 well results, our Pmean gross
resource estimate for the Tortue West structure has increased to 15 Tcf
from 11 Tcf as a result of extending the field area in the Cenomanian
and the Albian. Accordingly, the Pmean gross resource estimate for the
Greater Tortue Complex has increased to over 20 Tcf from 17 Tcf.
“Ahmeyim-2 is our fourth successful exploration and appraisal well and
continues our 100 percent success rate in the outboard Cretaceous
petroleum system offshore Mauritania and Senegal, further demonstrating
that Kosmos has opened a world-class hydrocarbon province. With this
well, we believe we have proven sufficient gas resource to underpin a
world-scale LNG project in the Tortue West structure alone. The
combination of the resource size and quality continue to support our
view that Tortue is a competitive source of LNG and we are working
towards commercialization,” said Andrew G. Inglis, chairman and chief
executive officer. “Our well-to-seismic calibration has again been
proven, highlighting the reliability of this tool and increasing our
confidence in its use for fully unlocking the basin, which we believe
has significant potential for both oil and gas. We now plan to drill the
first of three independent oil tests in our blocks offshore Mauritania
and Senegal, starting with the Teranga-1 well, located in the Cayar
Offshore Profond Block, offshore Senegal.”
Since 2012, Kosmos has held rights to conduct exploration in the C-8,
C-12, and C-13 contract areas under production sharing contracts with
the Government of Mauritania’s Société Mauritanienne Des Hydrocarbures
et de Patrimoine Minier (SMHPM). Kosmos operates the Ahmeyim-2 well with
90 percent equity and is joined by its partner SMHPM at 10 percent. The
blocks are contiguous, range in water depth between 1,000 and 3,000
meters, and have combined acreage of approximately 27,000 square
kilometers.
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 Portugal, Sao Tome and Principe, Suriname, 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 2014
Corporate Responsibility Report. Kosmos is listed on the New York
Stock Exchange and is traded 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.
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