DALLAS--(BUSINESS WIRE)--Jan. 2, 2014--
Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today that it has
entered into a one well rig share agreement with BP plc (LSE: BP) (NYSE:
BP) and Maersk Drilling, a unit of A.P. Moller - Maersk Group (CO:
MAERSK), for the rig Maersk Discoverer. The rig is expected to commence
drilling operations on the FA-1 (formally Eagle-1) exploration well in
the Foum Assaka Offshore block in Morocco during the first half of 2014.
Under the terms of the Agadir farm-out agreement with BP announced in
October, BP will fund Kosmos’ share of the well costs, subject to an
agreed maximum spend.
Constructed in 2009, the Maersk Discoverer is a sixth generation,
ultra-deepwater, dynamically positioned semi-submersible rig capable of
drilling to total depths of up to 30,000 feet, and operating in water
depths of up to 10,000 feet.
Darrell McKenna, chief operating officer, said, “We are pleased to have
finalized the rig share agreement with BP and Maersk Drilling for this
highly capable and efficient rig, currently working in the Mediterranean
region. In conjunction with our long-term rig agreement for the Atwood
Achiever, we have secured the required rig resources to execute on our
exploration program beginning in 2014. Based on the current schedule, we
expect to spud the FA-1 well in the first half of the year and
anticipate operations will take approximately three months to complete.”
About Kosmos Energy
Kosmos Energy is a leading independent oil and gas exploration and
production company focused on frontier and emerging areas along the
Atlantic Margin. The Company’s asset portfolio includes existing
production and other major development projects offshore Ghana, as well
as exploration licenses with significant hydrocarbon potential offshore
Ireland, Mauritania, Morocco (including Western Sahara) and Suriname. 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 2012
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’s 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’s 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.
Kosmos Energy Ltd.
Thomas Golembeski, +1-214-445-9674