Kosmos Energy Announces Rig Contract for Exploration Program

  Kosmos Energy Announces Rig Contract for Exploration Program

Business Wire

DALLAS -- June 10, 2013

Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today that it has signed a
long-term rig agreement with a subsidiary of Atwood Oceanics, Inc. (NYSE: ATW)
for the new build drillship Atwood Achiever. Currently under construction in
South Korea, the rig is scheduled for completion in June of 2014 and expected
to commence drilling operations in the second half of 2014. The signed
agreement covers an initial period of three years at a day rate of
approximately $595,000, with an option to extend the contract for an
additional three-year term. Within the initial committed period, the Company
plans to utilize the rig term on its multi-year, high-impact exploration
portfolio, while also allocating a portion of the rig term to one or more E &
P operators.

The Atwood Achiever is a 6^th generation ultra-deepwater, dynamically
positioned drillship with enhanced offline capabilities and two BOP systems.
The rig’s capabilities include drilling to total depths of up to 40,000 feet,
and in water depths of up to 12,000 feet.

In addition to the Atwood Achiever rig, Kosmos is actively pursuing additional
rig capacity for exploration drilling in the first quarter of 2014. Kosmos
anticipates utilizing the added rig capacity to drill the Company’s initial
exploration well offshore Morocco.

Darrell McKenna, Chief Operating Officer, commented, “We are pleased to have
executed the rig contract with Atwood, which builds on our strong previous
working relationship, and ensures a highly capable and efficient rig to
execute on our transformational exploration program. Despite a tightening rig
market, we have been able to secure the long-term rig resources needed to
support our drilling plans. In addition, we are closing in on a rig of
opportunity that combined, will allow for multiple petroleum system tests for
Kosmos in 2014 and beyond.”

About Kosmos Energy

Kosmos Energy is a leading independent oil and gas exploration and production
company focused on frontier and emerging areas along the Atlantic Margin. The
Company’s asset portfolio includes existing production and other major project
developments offshore Ghana, as well as exploration licenses with significant
hydrocarbon potential offshore Ireland, Mauritania, Morocco and Suriname and
onshore Cameroon. Kosmos is listed on the New York Stock Exchange and is
traded under the ticker symbol KOS. For additional information, visit
www.kosmosenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
Section27A of the Securities Act of 1933 and Section21E of the Securities
Exchange Act of 1934. All statements, other than statements of historical
facts, included in this press release that address activities, events or
developments that Kosmos expects, believes or anticipates will or may occur in
the future are forward-looking statements. Kosmos’s estimates and
forward-looking statements are mainly based on its current expectations and
estimates of future events and trends, which affect or may affect its
businesses and operations. Although Kosmos believes that these estimates and
forward-looking statements are based upon reasonable assumptions, they are
subject to several risks and uncertainties and are made in light of
information currently available to Kosmos. When used in this press release,
the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other
similar words are intended to identify forward-looking statements. Such
statements are subject to a number of assumptions, risks and uncertainties,
many of which are beyond the control of Kosmos, which may cause actual results
to differ materially from those implied or expressed by the forward-looking
statements. Further information on such assumptions, risks and uncertainties
is available in Kosmos’s Securities and Exchange Commission (“SEC”) filings.
Kosmos undertakes no obligation and does not intend to update or correct these
forward-looking statements to reflect events or circumstances occurring after
the date of this press release, except as required by applicable law. You are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary statement.

Contact:

Kosmos Energy Ltd.
Investor Relations
Jon Cappon, +1-214-445-9669
jcappon@kosmosenergy.com
 
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