Kosmos announces oil discovery in Gulf of Mexico

Kosmos Energy (KOS) announced an oil discovery in the U.S. Gulf of Mexico at the Tiberius exploration well. Kosmos is operator of the well and has a 33.34% working interest alongside Occidental (OXY) and Equinor (EQNR). The Tiberius exploration well tested a four-way structural trap in the outboard Wilcox trend, located in Keathley Canyon Block 964. The well encountered approximately 250 feet of net oil pay in the primary Wilcox target. Wireline logging has been completed and casing is currently being run to the target depth to enable the well to be used as a future oil producer. The Tiberius well is located in approximately 7,500 feet of water and was drilled to a total vertical depth of approximately 25,800 feet. Kosmos will now undertake rock and fluid analysis to confirm the production potential of the reservoir and will work with partners on subsea development options. The discovery is located approximately six miles southeast of the Occidental-operated Lucius SPAR production facility, enabling a short tie-back in the event of a development.