Fresh Ghana Well Lifts Kosmos Energy’s Jubilee Production
July 6, 2026
Kosmos Energy has brought online a new well at the Jubilee field offshore Ghana, which is now delivering at strong initial rates and helping lift field production as the company advances its 2026 drilling campaign.
The J76 well, the third well of the 2026 campaign, came online in mid-June, two weeks later than initially planned, and is contributing about 20,000 barrels of oil per day to gross production.
Kosmos said the well benefits from the latest seismic data and its reservoir modelling.
Gross Jubilee production averaged about 72,000 bopd in the second quarter, with an exit rate above 85,000 bopd.
The next well in the program, J77, has been completed and production is expected imminently. Kosmos expects the well to lift gross Jubilee production to about 90,000 bopd.
The final producer in this year’s program, J50, involves completion of a previously drilled well and is expected online around the end of July. A water injector is expected online around the end of the third quarter to prepare the northeastern area of Jubilee for the 2027/2028 drilling program.
Two full Jubilee cargo liftings and one TEN lifting took place during the second quarter. A third Jubilee cargo began lifting on the final day of the quarter and was completed on July 2.
Elsewhere, the Greater Tortue Ahmeyim (GTA) LNG project offshore Mauritania and Senegal recorded nine LNG cargo liftings in the second quarter, at the upper end of guidance. A condensate cargo was also lifted during the quarter.
In the Gulf of America, Kosmos said the farm-down process for Tiberius was progressing following project sanction in March, with completion expected in the third quarter.
The company completed the sale of its Ceiba and Okume assets in Equatorial Guinea to Panoro Energy on June 16. From that date through quarter-end, no further production was recognized from the assets, removing about 1,000 bopd from second-quarter production guidance.
Kosmos said net debt fell to about $2.56 billion at the end of the second quarter, down more than $400 million from year-end 2025, driven by debt reduction initiatives and free cash flow.
The company remains on track to reduce net debt by about 20% year-on-year by the end of 2026. Quarter-end liquidity exceeded $500 million, while discussions with its bank group are expected to begin shortly to refinance and extend the maturity of its reserve-based lending facility.
“We continue to execute on the key priorities I outlined with our full year results in early March – growing production, reducing costs and paying down debt. Initial results from the 2026 Ghana drilling program, in particular J76, highlight the potential of Jubilee with high-impact wells, supported by both modern seismic and enhanced reservoir modelling. With strong operational and financial performance in the first half of the year, we remain well placed to deliver our targets for the year,” said Andrew G. Inglis, Kosmos Energy’s chairman and chief executive officer.
