Successful Appraisal of Gas Discovery
DALLAS--(BUSINESS WIRE)--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.
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.