Kosmos Energy has completed its farm down of E&P interests in Suriname, Sao Tome & Principe, and Namibia to Shell for around $95 million, plus future contingent payments of up to $100 million.
(Courtesy Kosmos Energy)
Offshore staff
DALLAS – Kosmos Energy has completed its farm down of E&P interests in Suriname, Sao Tome & Principe, and Namibia to Shell for around $95 million, plus future contingent payments of up to $100 million.
Kosmos has allocated up to one-third of the initial proceeds to two infrastructure-led exploration prospects in the Gulf of Mexico, each said to offer hub scale potential with a low-cost, lower-carbon development.
Drilling is under way on the Winterfell prospect with results expected early next year.
Kosmos will use the remainder of the proceeds to reduce borrowings due under its credit facilities.
The company will retain an exploration portfolio said to hold potential for more than 6 Bbbl in proven basins in West Africa and the GoM.
