Kosmos Energy assets reassigned

Two exploration firms have formally been granted full ownership status by the Department of Natural Resources of Irish assets they previously co-owned with US explorer Kosmos Energy, which pulled out of Ireland in order to focus on its African assets last year.

Canadian firm Antrim Energy has regained Kosmos’ 75% stake in frontier exploration licence 1/13 in the Porcupine Basin off the Kerry coast.

The company has an overall 15-year exploration term on the asset, but has applied for an extension to the first term which is due to expire next month. It will seek a farm-out partner to help with additonal technical work and hopes to commit to drilling a well after the end of the to-be-confirmed new three-year first exploration term.