Kosmos Energy's Mahogany-1 Well Discovers Oil Offshore Republic Of Ghana
Dallas, TX - Kosmos Energy announced recently on behalf of all block partners that the Mahogany-1 exploration well offshore the Republic of Ghana on the West Cape Three Points Block has discovered a significant oil accumulation based on the results of drilling and wireline logs, and a sample of the reservoir fluid. The well has encountered to date a gross hydrocarbon column of 270 meters (885 feet) with 95 meters (312 feet) of net stacked pay in Cretaceous sandstone reservoir. The Mahogany-1 well, which is drilling in water depths of 1,320 meters (4,330 feet), is targeted to reach a total depth of 4,200 meters (13,780 feet). The Mahogany-1 well opens a new play fairway in the Tano Basin.
Plans call for the well to be suspended pending future evaluation. Additional drilling will be required to confirm and appraise the discovery.
"We are pleased that the first well in our multi-well West Africa exploration drilling program is a success," said James C. Musselman, Kosmos Chairman and Chief Executive Officer. "The discovery, which was made with the cooperation of the Ghanaian government and the help of our partners and the Ghanaian National Petroleum Corporation, validates Kosmos' business model and focus on West African exploration.
"We look forward to working with the government and people of Ghana to help them develop this natural resource," Musselman added.
Kosmos and its block partners used the "Belford Dolphin" – a dynamically positioned fifth-generation deepwater drillship – to drill the Mahogany-1 well. This is the first exploration well to be drilled under the block's seven-year exploration agreement. Kosmos conducted a 1,076-square-kilometer 3D seismic survey on the block in 2005.
Kosmos is block operator and holds a 30.875% interest in the West Cape Three Points Block. Anadarko WCTP Company has a 30.875% interest; Tullow Ghana Limited, an affiliate of Tullow Oil plc, has a 22.896% interest; and Sabre Oil and Gas Limited has a 1.854% interest in the block. The E.O. Group, a Ghanaian oil and gas company, holds a 3.5% interest in the block. With a 10% participating interest in the project, Ghana National Petroleum Corporation (GNPC) will be carried through the exploration and development phases.
The West Cape Three Points Block comprises 1,761 square kilometers (435,200 acres) in water depths ranging from 50 meters to 1,800 meters (approximately 165 feet to 5,900 feet). The well is located 63 kilometers (39 miles) from the Ghanaian coastline and 132 kilometers (82 miles) southwest of the port city of Takoradi and is situated in the Tano Basin.
After drilling the Mahogany-1 well, the "Belford Dolphin" drillship will move to Block 4 offshore the Republic of Benin where it will drill the Sota-1 exploration well. Sota-1 will be the second well in Kosmos' West Africa exploration program during the next year. The company holds a 40% working interest in Block 4.
Kosmos also holds an 18% interest in the Deepwater Tano Block, which is located west of and adjacent to the West Cape Three Points Block offshore Ghana.
SOURCE: Kosmos Energy