Kosmos Energy Limited Exploration Success in the US Gulf of Mexico (0045M)
January 19 2021 - 2:00AM
UK Regulatory
TIDMKOS
RNS Number : 0045M
Kosmos Energy Limited
19 January 2021
NEWS RELEASE
EXPLORATION SUCCESS IN THE U.S. Gulf of mexico
DALLAS, Texas, January 19, 2021 - Kosmos Energy (NYSE/LSE: KOS)
announced today an oil discovery in the U.S. Gulf of Mexico at the
Winterfell infrastructure-led exploration ("ILX") well (Kosmos
working interest 17.5%).
Winterfell was designed to test a sub-salt Upper Miocene
prospect located in Green Canyon Block 944. The well encountered
approximately 26 meters (85 feet) of net oil pay in two
intervals.
Andrew G. Inglis, Kosmos Energy's chairman and chief executive
officer said: "We are pleased to have started the New Year with
exploration success at Winterfell validating our proven basin
exploration strategy, which is focused on low cost, short cycle,
low carbon development solutions. The Winterfell well was funded by
a portion of the proceeds from the partial sale of our frontier
exploration portfolio. The well in Green Canyon Block 944 de-risks
prospectivity in several neighboring blocks held by Kosmos, with
approximately 100 million barrels of gross potential within Kosmos'
acreage position."
The Winterfell well is located in approximately 1,600 meters
(5,300 feet) of water and was drilled to a total depth of
approximately 7,000 meters (23,000 feet). An affiliate of Beacon
Offshore Energy LLC is operator of the Winterfell well. Additional
interest owners include Red Willow Offshore LLC, Ridgewood Monarch
North LLC, CSL Exploration, LP, CL&F Offshore LLC, Houston
Energy, L.P., Beacon Offshore Energy Exploration LLC, and Beacon
Asset Holdings LLC. Kosmos will now work with partners on an
appraisal plan and development options. The discovery is located
within tie back distance to several existing and planned host
facilities.
The company also plans to drill the Zora ILX well in the Gulf of
Mexico later in the year.
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 U.S. Gulf of Mexico, as well as a world-class
gas development offshore Mauritania and Senegal. 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 2019 Sustainability
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.
###
Source: Kosmos Energy Ltd.
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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