Kosmos Energy has completed the sale of its interests in the Ceiba Field and Okume Complex in Equatorial Guinea to Panoro Energy. The transaction resulted in a final cash payment of approximately $127 million, with the potential for an additional $40 million in contingent payments based on future oil prices and production levels. Proceeds will be used to pay down debt under the company's reserves-based lending facility, and the divestment removes a $140 million asset retirement obligation from its balance sheet. Kosmos plans to release updated full-year 2026 guidance during its second-quarter earnings announcement in August.
Panoro Energy ASAAcquired producing assets (Ceiba Field and Okume Complex) in Equatorial Guinea, adding production and reserves.
Kosmos Energy LtdCompleted sale of Equatorial Guinea interests for $127M cash, used to pay down debt and remove $140M liability.