By James Burgess | 24 March 2014 - http://oilprice.com
But while the supermajors are struggling with soaring project costs and poor balance sheets, innovative juniors and start-ups are increasingly swooping in to take advantage of new highly prospective plays--and as long as they don’t come up dry they are turning into superstars overnight.
In 2007, a Dallas-based start-up company, Kosmos Energy LLC, jumped on this scene to great fanfare, making the Jubilee field discovery. It was the company’s first major discovery, and one of the largest discoveries in all of West Africa in two decades. First production came online in 2010 and average production today is about 104,000-110,000 bpd.