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Stock impact report

Kosmos signs deal to divest Equatorial Guinea assets to Panoro [Yahoo! Finance]

Kosmos Energy Ltd. Common Shares (DE) (KOS) 
Last kosmos energy ltd. common shares (de) earnings: 2/24 02:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
Kosmos Energy has signed an agreement to sell its non-operating working interest of 40.375% in the Ceiba Field and Okume Complex assets offshore Equatorial Guinea to Panoro Energy for up to $219.5m (£162.31m). The deal includes an upfront payment of $180m and future contingent payments of up to $39.5m tied to production levels and oil price thresholds. Panoro will acquire the Kosmos subsidiary that holds the stake in Block G, which contains the producing Ceiba and Okume assets. The effective date for the transaction was set for 1 January 2025, with completion anticipated by mid-2026. The Government of Equatorial Guinea has approved the deal, and it now awaits standard approval from the Economic and Monetary Community of Central Africa. Kosmos plans to use proceeds from the transaction to pay down debt under its reserves-based lending credit facility. Over the two years following the close of the transaction, Kosmos expects cost savings of around $100m through reduced capita Show less Read more
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