DALLAS--(BUSINESS WIRE)--Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE/LSE: KOS) announced today the successful start-up of oil production at the Winterfell development in the Green Canyon area of the U.S. Gulf of Mexico.
Winterfell (Kosmos 25.04% working interest) is a phased development with the initial two production wells of the first phase now online and ramping up production. A third well is currently being drilled and is expected to be online by the end of the third quarter of 2024. The three initial wells are expected to deliver gross production of approximately 20,000 barrels of oil equivalent per day (boepd).
Commenting on the start-up of oil production at Winterfell, Chairman and Chief Executive Officer Andrew G. Inglis said: “The startup of Winterfell is another significant milestone for Kosmos as we continue to deliver the projects to achieve our growth targets by year-end 2024. With high margin barrels, low carbon intensity and a quick expected payback, Winterfell has the right characteristics for Kosmos’ portfolio. Kosmos is eager to continue developing the Greater Winterfell area which we believe has significant future upside potential.”
Winterfell is a Miocene-aged field discovered in 2021 in water depth of approximately 5,400 feet (~1,600 meters). The field has been developed via a 13-mile subsea tieback to the host platform. Following the successful drilling and completion of the first two wells and subsea hookup in April 2024, delays in subsequent work resulted in first oil slightly later than initially anticipated. The first phase of the development, with five wells in total, is expected to deliver around 100 million barrels of oil equivalent with upside from subsequent phases. The Winterfell unit consists of Green Canyon blocks 899, 900, 943, 944, 987 and 988 with follow-on opportunities in adjacent blocks where Kosmos also has an interest.
The other partners in the Winterfell unit are Beacon Offshore Energy (operator), Westlawn Americas Offshore, Red Willow, Alta Mar Energy, and CSL Exploration.
About Kosmos Energy
Kosmos is a full-cycle, deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as world-class gas projects offshore Mauritania and Senegal. We also pursue a proven basin exploration program in Equatorial Guinea and the U.S. Gulf of Mexico. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. 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 Sustainability Report. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
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