Kosmos Energy is ramping oil Production in Ghana, averaging approximately 35,400 boepd net in the first quarter of 2026, including gas production of approximately 6,900 boepd. The company has lifted three cargoes from Ghana during the quarter, in line with guidance.
At Jubilee, Kosmos having 38.6% working interest; oil production in the first quarter averaged approximately 70,000 bopd gross. The J74 well came online in early 2026, followed by the J75 well at the end of the quarter. Both wells are performing in line with expectations.
The next well in the campaign (J76) has been drilled, and the completion is about to commence. Two additional producer wells (J77 and J50) have also been drilled and will be completed shortly after J76. As the operator recently communicated, all three producer wells are expected to be online in June and July, and Kosmos expects an aggregate contribution from these wells of around 20,000 bopd gross. A water injection well will conclude the drilling campaign and is expected to be online at the end of the third quarter.
Oil production at the TEN Field averaged approximately 14,900 bopd gross for the first quarter, in line with expectations. In February 2026, the TEN partnership finalized a sale and purchase agreement to acquire the TEN FPSO at the end of its current lease. Signing the agreement is expected to significantly reduce TEN’s operating costs and positively impact leverage in 2026 and beyond.
The Ghanaian parliament has formally ratified the license extensions for the West Cape Three Points and Deepwater Tano Petroleum Agreements, which cover the Jubilee and TEN fields, following government approval of the extensions in December.
The licenses now extend to 2040. With an extended license period, the partnership is aligned on securing a rig for the 2027/2028 drilling campaign, which is expected to include up to ten wells and start in mid-2027.
