28th Oct 2019 08:48
(Alliance News) - US-based oil and gas explorer Kosmos Energy Ltd on Monday said Orca-1 exploration well has made a major gas discovery offshore Mauritania in the BirAllah area.
The Orca-1 well, which targeted a previously untested Albian play, exceeded pre-drill estimates and encountered 36 meters of net gas pay in excellent quality reservoir, the company said, adding that that the well also confirmed 11 meters of net gas pay in a down-structure position relative to the original Marsouin-1 discovery well.
The Dallas, Texas-based company believes Orca-1 and Marsouin-1 well to have de-risked up to 50 trillion cubic feet of gas from the Cenomanian and Albian plays in the BirAllah area, more than sufficient resource to support a world-scale LNG project.
The Orca-1 well was drilled in 2,510 meters of water to a total measured depth of around 5,266 meters. Partners in the BirAllah gas project, located offshore Mauritania, include Societe Mauritanienne des Hydrocarbures et de Patrimoine Minier, BP PLC, and Kosmos Energy.
Following the positive drill result and due to the scale and materiality of the Orca-1 well discovery, Kosmos Energy has decided to extend the timeline of its Mauritania/Senegal sell down process into 2020, giving bidders additional time to analyze the new data.
Kosmos Energy shares in London were trading 1.6% higher at 463.50 pence each in London on Monday morning. BP shares were up 0.4% at 513.80p.
By Tapan Panchal; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
BPKosmos Energy