KOS News & Events

Barclays and Stifel are acting as joint book running managers for the offering.

Kosmos Energy Ltd. announced that it has launched a registered underwritten public offering of $175M of shares of common stock. Kosmos intends to use the net proceeds from this offering to repay outstanding borrowings under its commercial debt facility and repayment of additional outstanding debt. Barclays and Stifel are acting as joint book-running managers in the offering.

Kosmos Energy has entered into an agreement to sell its 40.375% non-operating working interest in the Ceiba Field and Okume Complex production assets offshore Equatorial Guinea to Panoro Energy for $180 million, plus future contingent payments of up to $39.5 million. Under the terms of the agreement, Panoro will acquire the Kosmos subsidiary that owns an interest in Block G where the Ceiba and Okume production assets are located (the "Assets"). The consideration consists of an upfront cash payment of $180 million, subject to certain adjustments, plus contingent payments of $12.5 million linked to production performance at the Ceiba field and $9 million payable in each of 2027, 2028 and 2029, which are subject to certain oil price and production thresholds.