Kosmos Expands Role in Gulf of Mexico with Drilling Additions

October 13, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Kosmos Energy (NYSE:KOS) (Dallas, Texas) scored a big win in the Gulf of Mexico this week, when the company announced it had discovered oil at one of its ultra-deepwater projects. If developed, the discovery would join several others underway across the Gulf, where the company produced about 15,900 barrels of oil equivalent per day (with about 81% oil) during the second quarter.

Industrial Info is tracking nearly $5 billion worth of projects featuring Kosmos globally, more than $3.3 billion of which is attributed to projects with a medium-to-high (70% or higher) likelihood of beginning construction as currently scheduled. "As we continue to deliver these growth projects, we expect development [capital expenditures] to fall, resulting in a lower capital program over the coming year," one executive said.

Other companies featured: OneSubsea, SLB (NYSE:SLB), Aker Solutions and Subsea7.