Kosmos Energy Share Discussion Threads

[xxnjr] 21/11/2023 16:20

Indeed. Meanwhile GTA start up has now slipped to 3Q/24. (upstream)

[fraserdean] 20/11/2023 20:20

Surpised at all that. I thought Hill had been put back in his box by Total already would have assumed that had been passed on. Yes 3b/4b went very quiet and Total has applied for drilling in S Africa Orange Basin but in no rush until fiscal/Luiperd/environmental activists more clear.
Good news they might go for Agbami.

[xxnjr] 20/11/2023 14:51

The existing 'entente cordiale' to refrain from leaking well test results to the media seems to have been breached by Dr RT. Upstream this morning:-


"TotalEnergies has completed more than a dozen flow tests on an appraisal well at its multibillion barrel Venus oil and gas discovery in Namibia’s prolific Orange basin.

For the time being, results are being kept under wraps by the secretive supermajor — the French giant did not respond to Upstream questions — but any sign of hydrocarbons flowing to surface in a well is positive.....

.....This was confirmed by Africa Oil’s recently appointed chief executive Roger Tucker, who said there were “major flares” at the well location.

.....Upstream understands the flares were visible on about a dozen separate occasions between 9 and 12 November. Tucker said: “We would expect to see results in the next couple of weeks.”

[xxnjr] 16/11/2023 08:04

... there was some comment somewhere that Nara found oil in Mangetti horizons but not sure how reliable that was and no mention in the 3Q here. But AOC's comments seem slightly more nuanced than Patrick P's. Maybe porosity will be the determining factor?

[fraserdean] 15/11/2023 11:54

I believe you've encapsulated all teh highlights perfectly :). Interesting too on Nara, believe you mentioned before it wasn't believed to be dry...

[xxnjr] 15/11/2023 09:00

AOI 3Q results extracts

"During Q3 2023, the Tungsten Explorer rig drilled the Nara-1X exploration well in Block 2912, approximately 30km to the northwest of Venus-1X. The formation was encountered on prognosis and a thick interval was drilled with oil and gas shows. This outcome confirms the presence of a working petroleum system at the Nara-1X location, a considerable distance from Venus-1X and Venus-1A locations. A full wireline logging program was completed, and a core taken; however, the well was not flow tested as the interval drilled was deemed non-commercial and was plugged and abandoned. The Joint Venture is continuing to evaluate the results of Nara-1X."

"Impact closed a private placement with certain existing shareholders on October 31, 2023, to raise $40.0 million. The proceeds from this placement, together with existing cash reserves, is intended to fund Impact's participating share of costs for the remainder of 2023, which include the on-going appraisal of the Venus discovery, drilling of the Mangetti-1X exploration well and further 3D seismic acquisition for the southern part of Block 2913B to cover the Damara and South Damara structures that have been identified on 2D seismic."

"Following the 20-year renewal of the OML 130 license on May 28, 2023, FEED studies are expected to take place through the fourth quarter of 2023, which could facilitate the final investment decision for the Preowei oil discovery development project. Preowei oil field is to the north of Egina FPSO and is a development opportunity via a satellite subsea tie-back project to the Egina FPSO."

"In Q3 2023 OML 127 was voluntarily converted to operate under the new Petroleum Industry Act from March 1, 2023, and is now subject to 30% Corporate Income Tax regime compared to the previous 50% Petroleum Profit Tax regime."

[xxnjr] 14/11/2023 22:46

Apparently Mauritania was a 1bn barrel carbonate prospect in 600m WD. Results were "disappointing" as hc's found but non-commercial.

[fraserdean] 13/11/2023 16:57

interesting thanks

[xxnjr] 10/11/2023 17:11

Your drillship Maersk Voyager is approaching Cape Verde Islands so probably been underway for 2 to 3 days. It's headed for Trinidad.

[xxnjr] 03/11/2023 20:18

Ok, cool. Thanks. Just checked. The rig is just off Luba port, Bioko Island.

[fraserdean] 03/11/2023 18:14

Reported the rig has arrived off EG for the infill drilling.

[fraserdean] 03/11/2023 18:14

Looks like Chevron looking for a rig to drill next year too, busy busy

Off topic. Remarkable lack of movement in Kosmos shares at the mo

[xxnjr] 02/11/2023 15:27

Shell call, basically

"We like what we see in Namibia. All well results have been top quartile. Will drill 1 expln, 1 appraisal and run 1 DST in next 9 months. 25% of our expln spend in 2024 will be Namibia to give you a sense of how we perceive it."

[fraserdean] 02/11/2023 13:37

Maybe, i've got no idea who bp are anymore, doesn't seem to be any focus

[xxnjr] 01/11/2023 11:56

Given recent consoladation; Is it time for Patrick P to make an all paper offer for BP?

[xxnjr] 01/11/2023 11:41

Yakaar-Teranga IS a pretty large resource and was still in Bp's recent Denver Investor Update slides as a potential post 2030 option.

On GTA; Bp's 3Q Q&A comments

I know there’s been various issues at that project. I noticed, in the Denver slides, phase two is now in the beyond 2030 bucket, so could you talk about that project – you know, key next deliverables and how you’re thinking about the development overall from here? Thank you.....

As far as Tortue goes, on phase one itself, we’re at about 90% complete now. The offshore breakwater and facilities are complete and handed over to operations. The FLNG boat we anticipate leaving Singapore by the end of the year. The FPSO has left China and Singapore and it’s on its way to East Africa, and obviously we’ve replaced the contractor on the subsea systems. So we are hopeful that that starts up in 1Q24.

As far as phase two goes, we really need to focus right now on getting phase one up. That is the principal focus we have. As we do that, we’ll see how the productivity is of the resource base, and that will inform phase two where we have to continue through the design, we’re into optimising that space and commercial negotiations with the host governments and partners. So aways to go yet on phase two.

[fraserdean] 31/10/2023 11:02

Indeed will be interesting to see if they're happy to take over

[xxnjr] 27/10/2023 23:39

and GTA. mark your diary for 6th Nov.

[fraserdean] 27/10/2023 10:53

interesting to see what kosmos says in their resulta call about yakaar...

[fraserdean] 27/10/2023 10:52

Yeah he's been trying to get some perspective on venus, upsteam went a bit barmy. Currently 2 Bn bbl recoverable Shino says but upside, still quite nice.

All gone quiet on 3b/4b, hopefully a good quiet.

[xxnjr] 26/10/2023 16:16

Hi, sorry haven't a clue on Voyager. I'll put it on my mental rig watch list (which requires my memory to work!). Strikes me that ENI are quite good at unearthing new plays.....

I guess you heard the call. Patrick referred to Mangetti as a 'discovery' then immediately corrected himself. The well spud 7/Oct, so at least another 2 months to go? Venus-1A DST commencing "this week", so seems they may have drilled a side track? been coring reservoir? or something for last 25 days, or so. PP mentioned a "3rd well will be drilled in the north"; presume he meant V-1A, Mangetti, 3rd well.

PP was pressed on V1-X DST. He likes to keep his cards close to his chest; basically it met expectations which means there will be a development.

Elsewhere Upstream say S.Afr have given go ahead for Total to drill a well in Orange Basin-- that's progress but not an AOI block.

[fraserdean] 26/10/2023 09:50

Interesting on Mangetti, thanks.

Out of interest do you know where the Noble Voayger is going for Shell after Mauritania? Some speculation it may head down to Namibia, depending on results I guess.

I believe Eni are in talks for some Namibia blocks but some old tested Walvis Basin ones. If they see something in the Walvis and others drilling in Namibe next year that's the whole offshore covered. Start the resource curse debate.

[xxnjr] 25/10/2023 18:31

Probably won't learn much but Total 3Q results 26/10.

[xxnjr] 24/10/2023 16:56

... let's hope so.

wrt Namibia given recent Chevron and Exxon acquisitions; BP, RDSB even Total could be interested in bulking up? (large chunk of the value in Hess seems to have been in a single asset Guyana)

According to Upstream; Total Energies are putting out feelers for a massive up to $800m 5 yr rig contract for Venus development drilling.

(equates to $438K/day if 1 rig. Would imagine 2 rigs would be more efficient)

Chatter elsewhere seems to suggest Mangetti is partly being drilled as Nara-1X encountered oil in a thinnish down dip Mangetti horizon although not entirely sure where that info originated if correct.