Kosmos Energy (NYSE: KOS, Stock Forum) after Monday’s close announced drilling results from the Sipo-1 exploration well onshore Cameroon, this according to a company news release.
The independent oil and gas producer/explorer added that although it encountered oil and gas shows the well failed to encounter commercial reservoirs.
Kosmos said the well will be plugged and abandoned, and the company will record approximately $75 million to exploration expense in its second quarter 2013 results.
Its share price fell as much as 12% in Monday’s after-hours session.