Kosmos Energy Announces Results of Pontoenoe-1 Well and Provides Operational and Financial Update |
DALLAS--(BUSINESS WIRE)--Oct 10, 2018--Kosmos Energy (NYSE: KOS)(LSE: KOS) announced today that it has completed drilling the Pontoenoe-1 exploration well in Block 42 offshore Suriname.
Pontoenoe-1 was designed to test late Cretaceous reservoirs in a stratigraphic trap charged from oil mature Albian and Cenomanian-Turonian source kitchens. The well was located offshore Suriname approximately 280 kilometers northwest of Paramaribo in approximately 2,497 meters of water and has been drilled to a total depth of approximately 6,194 meters.
The prospect was fully tested but did not discover commercial hydrocarbons. High-quality reservoir was encountered, but the primary exploration objective proved to be water bearing. Kosmos believes there was evidence of a working source kitchen and the prospect failed due to a lack of trap. The well will now be plugged and abandoned and the well results integrated into the ongoing evaluation of the remaining prospectivity in Kosmos acreage position.
Andrew G. Inglis, chairman and chief executive officer, said: We are in the early stages of exploring the emerging Suriname-Guyana basin, and given the indications of a mature source, quality cretaceous reservoir, and the independent nature of the prospectivity we believe there is significant remaining potential in Block 42. Our current plan is to test the next prospect in 2020.
Kosmos holds rights in the Block 42 contract area under a production sharing contract with the Government of Surinames Staatso....