Proactive Investors - Run By Investors For Investors

Kosmos Energy’s Pontoenoe exploration well fails

Some evidence of a petroleum was seen but the well failed because the prospect had no trap
oil and gas operations
It will be plugged and abandoned

Kosmos Energy Plc’s (LON:KOS, NYSE:KOS) latest exploration well, Pontoenoe-1, offshore Suriname, has failed to make a new discovery.

The well’s target was found to be water bearing. According to Kosmos, there is evidence of a working ‘source kitchen’ (the basis for a petroleum system), but, the exploration prospect failed because of a lack of trap.

READ: Columbus Energy says it will deliver 2018 production target

Pontoenoe-1 will be plugged and abandoned.

“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,” said Andrew Inglis, Kosmos chief executive.

“Our current plan is to test the next prospect in 2020."

View full KOS profile View Profile

Kosmos Energy Timeline

Newswire
February 18 2019

Related Articles

1532456979_Prairie_Provident_Resources_-_Rig_in_Wheat.png
July 24 2018
The company is focused in the Wheatland and Princess in Southern Alberta, where it is targeting the Lower Mannville formation
Oil well
February 13 2019
TLP-103C’s upper reservoirs will be targeted by blending the R2 and the Mengo intervals through a double completion in the well.
oil rig
May 22 2019
Sidetrack at West Rutavi 16a flowed at 1,100 barrels per day against target of 650bopd for two wells

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use