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LONDON (Alliance News) - Texas-based oil company Kosmos Energy Ltd said Monday it encountered shallow bore hole stability issues at the Anapai-1 well, offshore Suriname.
The Anapai-1 well drilling in Block 45 will need to be re-spudded as it the stability issues occurred before it reached its target interval.
The well is expected to spud "imminently" and will take about 50 to 60 days to drill with the results expected early in the third quarter. Kosmos's share of the costs incurred to date is about USD20 million.
Kosmos also expects drilling to begin in the third quarter of the year at its Block 42 well. It is finalizing the first of up to three tests of prospects in the block.
Kosmos owns a 50% of the exploration licence at Block 45 and 33% at Block 42.
Shares in Kosmos were down 3.3% Monday to 550.00 pence each.