Kosmos Energy Down 8.6% After Announcing Teak-4A Results

Kosmos Energy

is trading lower on the session following its Teak-4A results offshore Ghana. The company announced that the well will be plugged and abandoned. According to Kosmos Energy's announcement, "The well encountered thin, non-commercial reservoirs and is being plugged and abandoned. Kosmos and partners have begun integrating well results into the Teak field model to determine forward appraisal and development plans." Kosmos Energy is currently trading at $11.06, a loss of $1.04 or 8.60%.