Kosmos Energy announced on January 6 2026 that the J‑74 producer well in its Jubilee field has been successfully drilled and completed, adding more than 10,000 barrels of oil per day to the field’s output and raising projected 2026 production to nearly 70,000 barrels per day.
The J‑74 well is part of a five‑well drilling campaign planned for 2026, following the commissioning of J‑72 in summer 2025. The well encountered approximately 50 metres of net pay, a figure that aligns with the company’s historical performance in the Jubilee field and confirms the viability of the new drilling program.
The new well is a key lever in Kosmos’s debt‑reduction and covenant‑compliance strategy. The company reported a net loss of $7 million in Q4 2024 and a $111 million loss in Q1 2025, a sharp contrast to the $92 million profit in Q1 2024. By boosting production, the J‑74 well will increase free cash flow, support debt servicing, and help the company transition from a cash‑consuming to a cash‑generating asset.
Ghana’s government has approved license extensions for the Jubilee and TEN fields through 2040, pending parliamentary ratification. The extensions allow up to 20 additional wells in Jubilee, expanding proven and probable reserves and providing a longer‑term production horizon that underpins the company’s growth strategy.
Kosmos is also advancing its Greater Tortue Ahmeyim LNG project in Mauritania and Senegal, with cargo liftings expected to nearly double in 2026. The planned acquisition of the TEN FPSO at the end of its lease in 2027 is projected to reduce operating costs and improve operational efficiency across the portfolio.
Investors welcomed the operational update, citing the J‑74 well’s contribution to production, the LNG ramp‑up, and progress on debt refinancing as positive signals of the company’s execution capability.
The completion of J‑74 marks a significant milestone in Kosmos Energy’s strategy to strengthen its balance sheet, capitalize on extended license rights, and deliver sustainable cash flow from its flagship Jubilee asset.
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