Kosmos Energy provided an update on the Company's global operations and announced record production from the Jubilee field offshore Ghana.

Jubilee field production is currently in excess of 105,000 barrels of oil per day. Significant production growth has resulted from additional acid stimulation operations performed on some of the Phase 1 wells, as well as the startup of the Jubilee Phase 1A development plan. Two additional acid stimulation operations on Jubilee Phase 1 production wells have been recently performed, at a gross cost of approximately $8 million per well. In total, seven acid stimulation operations have been performed in 2012, with all treated wells showing substantial productivity increases.

The first of five Phase 1A production wells was recently completed and has commenced production to the Jubilee floating, production, storage and offloading (FPSO) vessel. A second Phase 1A production well is expected to be online by the end of January 2013, with the remainder to be drilled, completed, and commissioned in the first half of 2013. The Company has a 24 percent participating interest in the Jubilee field.

Tags: Kosmos Energy