Costs Incurred in Oil and Gas Activities The following tables reflects total costs incurred, both capitalized and expensed, for oil and gas property acquisition, exploration, and development activities for the year. Equity Method Investment— Kosmos Equatorial Ghana Other(1) Total Guinea(2) Total (In thousands) Year ended December 31, 2017 Property acquisition: Unproved . . . . . . . . . . . . . . . . . . . . . . . $ — $ 9,865 $ 9,865 $— $ 9,865 Proved(3) . . . . . . . . . . . . . . . . . . . . . . . — 231,280 231,280 — 231,280 Exploration . . . . . . . . . . . . . . . . . . . . . . . . 15,150 55,632 70,782 — 70,782 Development . . . . . . . . . . . . . . . . . . . . . . 1,364 — 1,364 — 1,364 Total costs incurred . . . . . . . . . . . . . . . . . . $ 16,514 $296,777 $313,291 $— $313,291 Year ended December 31, 2016 Property acquisition: Unproved . . . . . . . . . . . . . . . . . . . . . . . $ — $ 17,322 $ 17,322 Proved . . . . . . . . . . . . . . . . . . . . . . . . . — — — Exploration . . . . . . . . . . . . . . . . . . . . . . . . 11,871 425,229 437,100 Development . . . . . . . . . . . . . . . . . . . . . . 265,451 — 265,451 Total costs incurred . . . . . . . . . . . . . . . . . . $277,322 $442,551 $719,873 Year ended December 31, 2015 Property acquisition: Unproved . . . . . . . . . . . . . . . . . . . . . . . $ — $ 6,250 $ 6,250 Proved . . . . . . . . . . . . . . . . . . . . . . . . . — — — Exploration(4) . . . . . . . . . . . . . . . . . . . . . . 12,441 367,196 379,637 Development . . . . . . . . . . . . . . . . . . . . . . 462,066 — 462,066 Total costs incurred . . . . . . . . . . . . . . . . . . $474,507 $373,446 $847,953 (1) Includes Africa, excluding Ghana, Europe and South America. (2) Represents 50% interest in KTIPI costs incurred from the date of acquisition through December 31, 2017. (3) Represents cash paid to acquire 50% interest in KTIPI. (4) Does not include reimbursement of costs associated with exploration expenses incurred in prior years which resulted in a $24.7 million gain on sale in 2015. Standardized Measure for Discounted Future Net Cash Flows The following table provides projected future net cash flows based on the twelve month unweighted arithmetic average of the first-day-of-the-month oil price for Brent crude in the period January through December 2017. The average 2017 Brent crude price of $54.42 per barrel is adjusted for crude handling, transportation fees, quality, and a regional price differential. Based on the crude quality, these adjustments are estimated to be $0.10 premium, a $0.02 premium and a $0.53 discount relative to Dated Brent for the Jubilee Field, TEN fields and our equity method investment, respectively. The adjusted price utilized to derive the Jubilee Field PV-10, TEN PV-10 and equity method investment PV-10 is $54.52, $54.44 and $53.89, respectively. 151