Kosmos Energy reports Ghana license extensions to 2040 and higher Jubilee output above 70,000 bopd

Kosmos Energy said Ghana’s parliament ratified license extensions for the West Cape Three Points and Deepwater Tano petroleum agreements covering the Jubilee and TEN fields, extending the licenses to 2040. The company said the extensions are expected to support up to $2 billion in incremental investment and that an amended Jubilee development plan includes up to 20 additional wells, with Kosmos expecting an increase in Jubilee 2P reserves. Kosmos reported the Jubilee J74 well, brought online in early January, has ramped to about 13,000 barrels of oil per day, lifting average gross Jubilee oil production to over 70,000 bopd in February month-to-date. It said the J75 well has been drilled with about 40 meters of net pay and is expected online around the end of the first quarter. At the TEN fields, the partnership signed an agreement to acquire the FPSO for $205 million gross (about $40 million net to Kosmos), payable upon completion at the end of the first quarter of 2027, and said the deal is expected to reduce operating expenses from 2026 onward. In Mauritania and Senegal, Kosmos said GTA LNG Phase 1 shipped 3.5 gross LNG cargoes in January and has averaged about 2.9 mtpa equivalent year-to-date versus 2.7 mtpa nameplate capacity. Kosmos also reported completing a $350 million Norwegian bond in January, using $100 million to repay RBL borrowings and the remainder for repurchasing its 2027 senior unsecured notes, and said it began hedging 2027 production with two million barrels with a $60/barrel floor.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kosmos Energy Ltd. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260219846598) on February 20, 2026, and is solely responsible for the information contained therein.