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Company Description

Contact Info

Clarendon House

2 Church Street

Hamilton, HM 11

Bermuda

Phone: 441-295-5950

Fax:

Kosmos Energy Ltd. operates as an independent oil and gas exploration and production company focused on frontier and emerging areas in Africa and South America. The company’s asset portfolio includes existing production and other major project developments offshore Ghana, as well as exploration licenses with hydrocarbon offshore Mauritania, Morocco and Suriname and onshore Cameroon. The company intends to produce and develop the Jubilee Field, while completing appraisal and development of its Ghana discoveries (Tweneboa, Enyenra, Ntomme, and Wawa in the Deepwater Tano Block offshore Ghana (DT Block); and Mahogany, Teak, and Akasa in the West Cape Three Points Block offshore Ghana (WCTP Block)). The location of the Jubilee Field offshore Ghana allows the company to sell its oil to the major refining markets of North America, Asia, and Europe. Ghanaian Discoveries Jubilee Discovery The Jubilee Field is a combination structural-stratigraphic trap with reservoir intervals consisting of a series of stacked Upper Cretaceous Turonian-aged, deepwater turbidite fan lobe, and channel deposits. Jubilee Field is located approximately 37 miles (60 kilometers) offshore Ghana in water depths of 3,250 to 5,800 feet (991 to 1,707 meters). WCTP Block Discoveries Mahogany is located within the WCTP Block, southeast of the Jubilee Field. The field is approximately 37 miles (60 kilometers) offshore Ghana in water depths of 4,101 to 5,905 feet (1,250 to 1,800 meters). The Teak discovery is located in the western portion of the WCTP Block, northeast of the Jubilee Field. The field is approximately 31 miles (50 kilometers) offshore Ghana in water depths of approximately 650 to 3,600 feet (200 to 1,100 meters). The Akasa discovery is located in the western portion of the WCTP Block approximately 31 miles (50 kilometers) offshore Ghana in water depths of approximately 3,200 to 5,050 feet (950 to 1,550 meters). The discovery is southeast of the Jubilee Field. DT Block Discoveries The Tweneboa discovery is located in the central portion of the DT Block approximately 31 miles (50 kilometers) offshore Ghana in water depths of approximately 3,281 to 5,252 feet (1,000 to 1,500 meters). The Enyenra discovery is located in the Western portion of the DT Block. The field is approximately 28 miles (45 kilometers) offshore Ghana in water depths of approximately 3,300 to 5,000 feet (1,000 to 1,500 meters). The Ntomme discovery is located in the central portion of the DT Block. The field is approximately 32 miles (52 kilometers) offshore Ghana in water depths of approximately 3,950 to 5,700 feet (1,200 to 1,750 meters). Ghanaian Prospects WCTP Block The company and its WCTP Block partners have certain rights to negotiate a new petroleum contract with respect to the WCTP Relinquishment Area. DT Block In 2012, the company started the Sapele-1 exploration well. Drilling of the well was completed in February 2013. The company and its DT Block partners have certain rights to negotiate a new petroleum contract with respect to the DT Relinquishment Area. Cameroon: The company has two petroleum contracts in Cameroon, governing the Ndian River Block and adjoining Fako Block. These blocks are located within the Rio del Rey and Douala Basins. The company is the operator of the Ndian River Block and Fako Block, and holds a 100% participating interest in both blocks. In 2012, it entered into a license with the Republic of Cameroon for the Fako Block, which borders the southeast portion of its Ndian River Block in the Rio del Rey Basin. Mauritania: In 2012, the company acquired three new petroleum contracts offshore Mauritania. The new exploration licenses are Offshore Blocks C8, C12, and C13. It is the operator and holds a 90% participating interest in all blocks. Offshore Blocks C8, C12, and C13 are located on the western margin of the proven petroleum system of the Mauritania Salt Basin. Morocco: The company owns two new petroleum contracts, renewed an existing petroleum contract and acquired a new reconnaissance contract in Morocco. Its exploration licenses include the Cap Boujdour Offshore Block, which is within the Aaiun Basin, and the Essaouira Offshore Block and the Foum Assaka Offshore Block, which are within the Agadir Basin. Its reconnaissance contract is through the Tarhazoute Offshore area within the Agadir Basin. The company is the operator of the Cap Boujdour Offshore Block and has a 75% participating interest. It is also the operator of the Foum Assaka Offshore Block. The company is the operator of the Essaouira Offshore Block and has a 37.5% participating interest. During 2013, the company acquired an additional 37.5% participating interest in the Essaouira Offshore Block from Canamens Energy Morocco SARL, one of its block partners. The Foum Assaka Offshore Block, Essaouira Offshore Block and Tarhazoute Offshore area are located in the Agadir Basin. Suriname: The company has petroleum contracts covering Block 42 and Block 45 offshore Suriname. It retains a 50% participating interest in the blocks and remains the operator for the exploration phase of the petroleum contracts. The company’s blocks in Suriname are located within the Guyana-Suriname Basin, along the Atlantic passive margin of northern South America. Business Strategy The company’s business strategy is to improve proved reserves and production through exploration, appraisal, and development; apply its technically-driven culture, which fosters innovation and creativity, to continue its successful exploration and development program; focus on optimally developing its discoveries to initial production; and identify, access, and explore emerging regions and hydrocarbon plays. History Kosmos Energy Ltd. was founded in 2003.

 

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KOS

Industry Average

Valuation KOS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 4.7x
Price/Book 4.0x
Price/Cash Flow 25.4x
TEV/Sales 3.0x
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