In fact, Kosmos stated that the Resolution was designed to test an amplitude-supported sub-salt prospect in the underexplored western Garden Banks area. The project in particular is partly owned by Kosmos and partly by BP.

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The well will now be sealed and abandoned, and the results will be integrated into the ongoing evaluation of the surrounding area.

The Resolution well was approximately 600 meters of water and was drilled to a total depth of approximately 7,700 meters. In addition to this, the company believes to record approximately $55 million of exploration expense in the fourth quarter in relation to the drilling of the Resolution exploration well.

Kosmos now aims to initiate drilling operations in the Oldfield prospect in early December with results to be expected in the first quarter of 2020.

The company added that will continue to high grade its multi-year infrastructure-led exploration prospect inventory in the Gulf of Mexico with further three wells to be expected in 2020.

It is said that Hess has most of the share in the well with a 60% interest, while Kosmos has the 40% of interest.

Late in October, Oil major BP's Orca-1 exploration well, which is co-owned by SMHPM and Kosmos, located in the BirAllah area in Block C8 offshore Mauritania, made a gas discovery, with the results achieving a 100% success from nine wells targeting the inboard gas trend in Mauritania/Senegal, Kosmos stated.

Kosmos added that the well exceeded its pre-drill expectations, encountering 36 meters of net gas pay in excellent quality reservoirs. Moreover, the well's location resulted to structural and stratigraphic trap of the Orca prospect, with Kosmos estimating that it has a mean gas initially in place (GIIP) of 13 TCF.

What is more, BP announced in January that it has discovered two new oilfields in the Gulf of Mexico and has found one billion barrels of oil at an existing field with the help of a new seismic technology. The company, years after the 2010 Deepwater Horizon Spill, announced its plans on expanding its production at its Atlantis oilfield in the Gulf of Mexico.