Kosmos Energy Ltd. announced two developments that together strengthen the company’s liquidity and better position Kosmos for continued success in a lower commodity price environment. In addition, the company provided an update on its exploration drilling program.
Kosmos’ second exploration well offshore Mauritania, Marsouin-1, was spud on August 28, 2015, with results anticipated in the middle of the fourth quarter. Marsouin-1 is located in Block C8 approximately 60 kilometers north of the basin-opening Tortue-1 well in a water depth of approximately 2,400 meters.
The well is designed to test a four-way trap with multiple stacked targets, including Lower Cenomanian, Albian, and Aptian formations. As operator of the well, Kosmos currently holds a 60 percent working interest with its partners Chevron Mauritania Exploration Limited, a wholly owned subsidiary of Chevron Corporation and Société Mauritanienne Des Hydrocarbures et de Patrimoine Minier (SMHPM) holding 30 percent and 10 percent, respectively.