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Kosmos Energy Slows Down on Capex in 2016
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Kosmos Energy Ltd. has announced financial and operating results for the fourth quarter and full year 2015.
2016 Capital Program The Company plans a 2016 capital expenditure budget of $650 million, a nearly 20% reduction from 2015. Approximately $200 million is expected to be spent in Ghana, primarily related to the completion of the TEN project. Expect to spend approximately $250 million in Mauritania and Senegal related to the appraisal of the Ahmeyim discovery, the drilling of one oil test in Senegal, and the acquisition of additional seismic. The Company’s planned exploration expenditures, which total approximately $200 million, include capital related to seismic acquisition, new ventures, and rig costs for the Atwood Achiever with no additional drilling planned after Ahmeyim-2 and…- ✓ Full news archive — U.S., Canada & international coverage
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