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Kosmos Energy was founded as a high-impact, frontier explorer in 2003. The company has carved out a niche focused on frontier deepwater exploration of the Atlantic Margin and was a ‘first mover' into Ghana, leading to the play-opening discovery of the Jubilee field in 2007. This high-impact discovery created excellent full-cycle value for the company, though subsequent discoveries have been more marginal. Exploration is central to Kosmos' strategy, and portfolio re-loading has opened new frontier exploration opportunities in a small number of countries. Since 2015, it has made a successful return to high-impact exploration, discovering over 25 tcf of gas offshore Mauritania and Senegal. The portfolio is unequivocally frontier, but focused on analogies or outreach extensions of existing, proven Cretaceous and salt basin plays. Future value creation is dependent on Kosmos' ability to commercialise existing discoveries and find other high-impact prospects.
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Description
Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.
Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.
Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
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Company report | Nov 2016
Kosmos Energy oil and gas exploration summary
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