Yakaar-2 Appraisal Well Confirms World-scale Gas Resource Offshore Senegal
September 23 2019 - 2:00AM
Business Wire
Kosmos Energy (NYSE/LSE: KOS) announced today that the Yakaar-2
appraisal well has encountered approximately 30 meters of net gas
pay in similar high-quality Cenomanian reservoir to the Yakaar-1
exploration well, continuing the 100 percent success rate of wells
targeting the inboard Mauritania/Senegal gas trend. Yakaar-2 was
drilled approximately nine kilometers from Yakaar-1 and proved up
the southern extension of the field.
The results of the Yakaar-2 well underpin our view that the
Yakaar-Teranga resource base is world-scale and has the potential
to support an LNG project that provides significant volumes of
natural gas to both domestic and export markets. Development of
Yakaar-Teranga is expected in a phased approach with Phase 1
providing domestic gas and data to optimize the development of
future phases. It will also support the country’s “Plan Emergent
Senegal” launched by the President of Senegal in 2014.
Commenting on the results of the Yakaar-2 well, Chairman and
Chief Executive Officer Andrew G. Inglis said: “The Yakaar-2
appraisal well demonstrates the scale and quality of the Yakaar
resource base. Senegal is one of the fastest growing economies in
the world and Kosmos is excited to be working alongside BP and
PETROSEN to support the country’s growing energy needs.”
Located offshore Senegal, the Yakaar-2 well was drilled in
approximately 2,500 meters of water to a total measured depth of
around 4,800 meters.
The Valaris DS-12 rig, working on behalf of the operator BP,
will now move to the Orca-1 exploration well in Mauritania.
Partners in the Yakaar-Teranga gas project, located offshore
Senegal, include PETROSEN, BP, and Kosmos.
About Kosmos Energy
Kosmos is a full-cycle deepwater independent oil and gas
exploration and production company focused on the Atlantic Margins.
Our key assets include production offshore Ghana, Equatorial Guinea
and U.S. Gulf of Mexico, as well as a world-class gas development
offshore Mauritania and Senegal. We also maintain a sustainable
exploration program balanced between proven basin
infrastructure-led exploration (Equatorial Guinea and U.S. Gulf of
Mexico), emerging basins (Mauritania, Senegal and Suriname) and
frontier basins (Cote d'Ivoire, Namibia and Sao Tome and Principe).
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 2018
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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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
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