US Kosmos Energy, a full-cycle independent oil and gas exploration and production company, has announced the discovery of oil in the U.S. Gulf of Mexico at the Tiberius exploration well.
The Tiberius exploration well tested a four-way structural trap in the outboard Wilcox trend, located in Keathley Canyon Block 964. The well encountered approximately 250 feet (~75 meters) of net oil pay in the primary Wilcox target. Wireline logging has been completed, and casing is currently being run to the target depth to enable the well to be used as a future oil producer.
The Tiberius exploration well is located in the outboard Wilcox trend, specifically in Keathley Canyon Block 964. Kosmos Energy operates the well and holds a 33.34% working interest. The other partners involved in this venture are Occidental and Equinor ASA, both holding a 33.33% working interest.
With the oil discovery and completion of wireline logging and casing, Kosmos Energy will now undertake rock and fluid analysis to confirm the production potential of the reservoir and will work with partners on subsea development options.
The discovery is located approximately 6 miles southeast of the Occidental-operated Lucius SPAR production facility, enabling a short tie-back in the event of a development.
Andrew G. Inglis, the Chairman and CEO of Kosmos Energy, expressed his satisfaction with the exploration success at Tiberius. “Exploration success at Tiberius validates our proven basin infrastructure-led exploration strategy, which is focused on low-cost, short-cycle development opportunities. The Gulf of Mexico is an advantaged basin with top-quartile carbon emissions, and discoveries like Tiberius can bring lower carbon U.S. supply to meet near-term growing oil demand,” he said.