Kosmos Energy Announces Successful Completion of Tortue Drill Stem Test
August 23 2017 - 2:00AM
Business Wire
Kosmos Energy (NYSE: KOS) announced today that it has
successfully completed the drill stem test (DST) of the Tortue-1
well, demonstrating that the Tortue field is a world-class resource
and confirming key development parameters including well
deliverability, reservoir connectivity, and fluid composition.
The Tortue-1 well flowed at a sustained, equipment-constrained
rate of approximately 60 million cubic feet per day (MMcf/d) during
the main, extended flow period, with minimal pressure drawdown,
providing confidence in well designs that are each capable of
producing approximately 200 MMcf/d. The DST results confirmed a
connected volume per well consistent with the current development
scheme, which together with the high well rate is expected to
result in a low number of development wells compared to equivalent
schemes. Initial analysis of fluid samples collected during the
test indicate Tortue gas is well suited for liquefaction given low
levels of liquids and minimal impurities. Data acquired from the
DST will be used to further optimize field development and to
refine process design parameters critical to the front end
engineering and design (FEED) process anticipated to begin later
this year.
“The positive results from the DST confirm that the Tortue field
is a world-class resource and validates the assumptions that
underpin our development concept,” said Andrew G. Inglis, chairman
and chief executive officer. “The combination of high well rates,
large connected volume per well together with a gas well-suited for
liquefaction is why we believe Tortue is one of the lowest cost
pre-FID greenfield LNG projects. The Kosmos BP partnership remains
aligned on delivering a final investment decision for the project
in 2018 and first gas in 2021.”
The Tortue-1 well is located in water depths of approximately
2,700 meters offshore Mauritania. The DST was conducted by the
Atwood Achiever drillship, which has now mobilized to the
Hippocampe prospect in Block C-8 offshore Mauritania to begin
exploration drilling operations.
Kosmos is exploration operator of Block C-8 with a 28%
participating interest. BP is named operator with a 62%
participating interest, and Societe Mauritanienne des Hydrocarbures
et de Patrimoine Minier (“SMHPM”) has a 10% participating
interest.
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 Suriname, Sao Tome and
Principe, 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 2016 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.
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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version on businesswire.com: http://www.businesswire.com/news/home/20170822006234/en/
Kosmos EnergyInvestor RelationsNeal Shah,
+1-214-445-9628nshah@kosmosenergy.comorRhys Williams,
+1-214-445-9693rwilliams@kosmosenergy.comorMedia
RelationsThomas Golembeski,
+1-214-445-9674tgolembeski@kosmosenergy.com
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