Small gas/condensate find for Kosmos offshore Morocco

Kosmos Energy (NYSE: KOS) says the CB-1 exploration well located in the Cap Boujdour permit area offshore Morocco’s Western Sahara encountered sub-commercial hydrocarbons.

Mar 2nd, 2015

Offshore staff

DALLAS – Kosmos Energy (NYSE: KOS) says the CB-1 exploration well located in the Cap Boujdour permit area offshore Morocco’s Western Sahara encountered sub-commercial hydrocarbons.

The drillshipAtwood Achiever drilled the CB-1 well in 2,125 m (6,972 ft) of water, 170 km (105 mi) offshore. It penetrated 14 m (46 ft) of net gas and condensate pay in clastic reservoirs over a gross hydrocarbon-bearing interval of roughly 500 m (1,640 ft).

Kosmos plans to P&A the well.

Andrew G. Inglis, chairman and CEO, said the well was designed to open the frontier Laâyoune basin by testing the Al Khayr prospect. “While not a commercial find, this first well in the basin has significantly de-risked further exploration by demonstrating a working petroleum system, including the presence of a hydrocarbon charge, as well as effective trap and seal.

“The well results confirm the substantial exploration potential of our 22,000-sq km [8,494-sq mi] Cap Boujdour block, which includes a diverse range of independent plays and fairways with multiple prospects. Going forward, the key exploration challenge is finding reservoirs of commercial size and quality.

“We will analyze the information gathered from CB-1 and integrate it with the additional 3D seismic data we recently acquired to refine our exploration plan, including deciding on the location and timing of a potential second well.”

TheAtwood Achiever drillship now heads south to Mauritania to drill the Tortue prospect.

Kosmos operates the Cap Boujdour license in partnership with state company ONHYM and Capricorn Exploration and Development Co., a subsidiary ofCairn Energy.

03/02/2015

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