Kosmos Energy has finalized the sale of its non-operating interests in the Ceiba field and Okume Complex offshore Equatorial Guinea to Panoro Energy. Kosmos received a final cash payment of $127 million after post-closing adjustments, part of an upfront amount of $180 million, and may earn additional contingent payments of $12.5 million tied to Ceiba production targets and $9 million annually in 2027, 2028, and 2029 if oil prices and production thresholds are met. The divested assets contributed nearly 5,800 barrels of oil per day net to Kosmos in 2026, and the transaction removes a $140 million asset retirement obligation from its balance sheet. Kosmos plans to use the proceeds to pay down borrowings under its reserves-based lending credit facility, strengthening its financial flexibility while focusing on core deepwater assets in Ghana, Mauritania, Senegal, and the Gulf of America. Panoro Energy, which previously held a 14.25% interest in Block G, increases its stake to 54.625% through the acquisition.
Panoro Energy ASAPanoro increased its stake in Block G to 54.625% through the acquisition, expanding its asset base.
Kosmos Energy LtdKosmos completed the sale, receiving $127M cash, removing $140M liability, and plans to reduce debt, strengthening its balance sheet.
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