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Kosmos Energy May Move After Tullow’s Jubilee Update Disappoints 2014-01-15 13:22:41.79 GMT
By Arie Shapira Jan. 15 (Bloomberg) -- Kosmos Energy may move after Tullow Oil reported Jubilee 2013 exit rate 100,000 b/d given recent issues w/ FPSO’s water injection system, expects 2014 production to avg 100,000 b/d. * KOS earlier said net interest in Jubilee 2014 production 24,100 b/d, similar to 2013 levels; expects to sell 8 crude oil cargoes in 2014 * Tudor Pickering says KOS likely “down a bunch today” given cut to 2014 production/EPS from Jubilee “disappointment"; would consider buying shrs closer to support value $10-shr (vs Tues. close $11.11) * RBC says expected Jubilee to test capacity of 125,000 b/d facility, update likely puts pressure on KOS shrs * KOS has 12 buys, 6 holds w/ avg PT $14 * KOS down 10% since beginning of 2013 vs EPX index up 22% * NOTE: KOS yday said Andrew Inglis, former CEO of BP E&P business, appointed CEO and chairman of board, effective March 1
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--Editor: Steven Fromm
To contact the reporter on this story: Arie Shapira in New York at +1-212-617-1488 or ashapira3@bloomberg.net
To contact the editor responsible for this story: Joanna Ossinger at +1-212-617-7789 or jossinger@bloomberg.net