Kosmos Energy has brought a new well online at the Jubilee field offshore Ghana, boosting field production as the company continues its 2026 drilling campaign.
The J76 well, the third well in the 2026 drilling program, started production in mid-June, about two weeks later than planned. It is currently producing around 20,000 barrels of oil per day in gross output.
Kosmos said the company developed the well using the latest seismic data and reservoir modeling.
Gross production at the Jubilee field averaged around 72,000 barrels of oil per day during the second quarter, with production exceeding 85,000 barrels per day by the end of the quarter.
The company has completed the J77 well and expects to bring it online shortly. Once operational, the well is expected to increase gross Jubilee production to about 90,000 barrels of oil per day.
The final producer in this year’s drilling program, J50, involves completing a previously drilled well and is expected to come online around the end of July. The company also expects to bring a water injector online toward the end of the third quarter to prepare the northeastern area of the Jubilee field for the 2027 and 2028 drilling program.
Kosmos completed two Jubilee cargo liftings and one TEN cargo lifting during the second quarter. A third Jubilee cargo began loading on the final day of the quarter and was completed on July 2.
At the Greater Tortue Ahmeyim LNG project offshore Mauritania and Senegal, the company completed nine LNG cargo liftings during the second quarter, reaching the upper end of its guidance. It also lifted one condensate cargo during the period.
In the Gulf of America, Kosmos said it is making progress with the farm-down process for the Tiberius project following its sanction in March. The company expects to complete the process during the third quarter.
On June 16, Kosmos completed the sale of its Ceiba and Okume assets in Equatorial Guinea to Panoro Energy. As a result, the company did not recognize any production from the assets for the remainder of the quarter, reducing second-quarter production guidance by about 1,000 barrels of oil per day.
Kosmos reduced its net debt to about $2.56 billion by the end of the second quarter, more than $400 million lower than at the end of 2025. The company attributed the reduction to debt repayment efforts and free cash flow generation.
The company remains on track to reduce net debt by about 20% year on year by the end of 2026. Liquidity exceeded $500 million at the end of the quarter, and Kosmos expects to begin discussions with its banking group soon to refinance and extend the maturity of its reserve-based lending facility.
“We continue to deliver on the priorities I outlined with our full-year results in early March by growing production, reducing costs, and paying down debt. The strong early performance of the 2026 Ghana drilling program, particularly the J76 well, demonstrates the potential of the Jubilee field through high-impact wells supported by modern seismic data and improved reservoir modeling. With solid operational and financial performance in the first half of the year, we remain well positioned to achieve our targets for the year,” said Andrew G. Inglis, chairman and chief executive officer of Kosmos Energy.
Kosmos Boosts Jubilee Output with New Ghana Well
African Energy Council