- Kosmos Energy (KOS -6%) sinks after Tullow Oil (TUWLF, TUWOY), KOS's partner in the Jubilee field offshore Ghana, said production would average 100K bbl/day of oil, below expectations.
- KOS's net interest in the field's 2014 production is ~24.1K bbl/day, similar to 2013 levels; as a result, KOS expects to sell eight crude oil cargoes during 2014.
- KOS says the revised forecast primarily stems from the recently completed third gas injection well, which started up in Q4 and provided minimal relief; reservoir performance and well productivity remain strong.
Kosmos Energy -6% as Jubilee production guidance disappoints
Jan 15 2014, 10:12 ET