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Kosmos Highlights TEN First Oil in Q3; Updates Jubilee Operations
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Kosmos Energy announced today financial and operating results for the third quarter of 2016.
Key Points:TEN Project First Oil:
In mid-August, we achieved first oil on the TEN project and the 11 development wells in the initial phase of drilling have been completed as of early October. The field produced an average of 24,000 bopd gross when on line during the third quarter and is currently producing approximately 50,000 bopd gross.Jubilee Project:
During the third quarter, gross sales volumes from the Jubilee field averaged approximately 91,000 barrels of oil per day (bopd).For the third quarter of 2016, the Company generated a net loss of $59.8 million, or $0.15 per diluted share as compared to net income of $60.3 million or $0.15 per share in the same period last year. When…
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