Kosmos Energy says it expects results from the Anapai-1 well in Suriname later this month as drill operations continue in Block 45 where the company holds a 50% interest.
The company announced its first quarter 2018 results on Monday, reporting a net loss of $50.2 million or $0.13 per diluted share as compared to a net loss of $28.8 million or $0.07 per diluted share in the same period last year.
“Kosmos is off to a good start in 2018 across all three areas of our business,” said Andrew G. Inglis, Chairman and Chief Executive Officer. “Strong and growing production from our high-margin assets in Ghana and Equatorial Guinea continue to generate significant free cash flow, underpinning our solid financial position. The Tortue gas development, which represents the next phase of major production growth for Kosmos, continues to move forward at pace with all FEED contracts now awarded and a clear path to FID around year end. In addition, we have a balanced exploration portfolio with multiple, visible opportunities in proven, emerging, and frontier basins, including two exploration wells offshore Suriname this year.”
In April 2018, Kosmos began drilling the Anapai-1 exploration well targeting an early Cretaceous structural-stratigraphic trap in Block 45, offshore Suriname. “Well operations are currently ongoing at this time with results expected later this month,” the company said in its Q1 2018 report.