REG - Kosmos Energy Ltd - Oil Discovery In the U.S. Gulf of Mexico

Kosmos EnergyAnnouncement

11/10/2023 07:00

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RNS Number : 6834P  Kosmos Energy Limited  11 October 2023

 

Kosmos energy announces OIL DISCOVERY

IN THE U.S. Gulf of mexico

 

DALLAS, Texas, October 11, 2023 - Kosmos Energy (http://www.kosmosenergy.com/)
(NYSE/LSE: KOS) announced today an oil discovery in the U.S. Gulf of Mexico at
the Tiberius exploration well. Kosmos is operator of the well and has a 33.34%
working interest alongside Occidental and Equinor ASA (both 33.33%).

 

The Tiberius exploration well tested a four-way structural trap in the
outboard Wilcox trend, located in Keathley Canyon Block 964. The well
encountered approximately 250 feet (~75 meters) of net oil pay in the primary
Wilcox target. Wireline logging has been completed and casing is currently
being run to the target depth to enable the well to be used as a future oil
producer. The Tiberius well is located in approximately 7,500 feet (2,300
meters) of water and was drilled to a total vertical depth of approximately
25,800 feet (7,800 meters).

 

Kosmos will now undertake rock and fluid analysis to confirm the production
potential of the reservoir and will work with partners on subsea development
options. The discovery is located approximately 6 miles southeast of the
Occidental-operated Lucius SPAR production facility, enabling a short tie-back
in the event of a development.

 

Andrew G. Inglis, Kosmos Energy's chairman and chief executive officer said:
"Exploration success at Tiberius validates our proven basin infrastructure-led
exploration strategy, which is focused on low cost, short cycle development
opportunities. The Gulf of Mexico is an advantaged basin with top quartile
carbon emissions, and discoveries like Tiberius can bring lower carbon U.S.
supply to meet near-term growing oil demand."

About Kosmos Energy

 

Kosmos is a full-cycle deepwater independent oil and gas exploration and
production company focused along the Atlantic Margins. Our key assets include
production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as
well as a world-class gas development offshore Mauritania and Senegal. We also
maintain a sustainable proven basin exploration program in Equatorial Guinea,
Ghana and the U.S. Gulf of Mexico. Kosmos is listed on the New York Stock
Exchange and London Stock Exchange and is traded under the ticker symbol KOS.
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 Sustainability Report. For additional
information, visit www.kosmosenergy.com.

 

Investor Relations

Jamie Buckland

+44 (0) 203 954 2831

jbuckland@kosmosenergy.com

 

 

Media Relations

Thomas Golembeski

+1-214-445-9674

tgolembeski@kosmosenergy.com

 

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