Kosmos
Energy (NYSE: KOS) (LSE: KOS) announced today that it has completed
the previously announced acquisition of Deep Gulf Energy (“DGE”)1,
a leading deepwater company operating in the Gulf of Mexico. By
acquiring DGE, Kosmos adds to its deepwater Atlantic Margin portfolio an
established business with attractive assets and a strong record of
growing production and reserves through infrastructure-led exploration.
This immediately accretive acquisition enhances the scale of the company
and is expected to generate significant free cash flow, enabling Kosmos
to return cash to shareholders through a dividend, beginning in the
first quarter of 2019.
Note:
1. Includes Deep Gulf Energy LP, Deep Gulf Energy II, LLC, Deep Gulf
Energy III, LLC, and related entities (collectively “DGE”)
About Kosmos Energy
Kosmos is a well-capitalized, pure play deepwater oil and gas company
with growing production, a pipeline of development opportunities and a
balanced exploration portfolio along the Atlantic Margins. Our assets
include growing production offshore Ghana, Equatorial Guinea, and in the
U.S. Gulf of Mexico, a competitively positioned Tortue gas project in
Mauritania and Senegal, and a sustainable exploration program balanced
between proven basins (Equatorial Guinea and U.S. Gulf of Mexico),
emerging basins (Mauritania, Senegal and Suriname) and frontier basins
(Cote d'Ivoire and Sao Tome and Principe). As an ethical and transparent
company, Kosmos is committed to doing things the right way. The
company’s Business Principles articulate our commitment to transparency,
ethics, human rights, safety and the environment. Read more about this
commitment in the Kosmos 2017 Corporate
Responsibility Report. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that Kosmos expects, believes
or anticipates will or may occur in the future are forward-looking
statements. Kosmos’ estimates and forward-looking statements are mainly
based on its current expectations and estimates of future events and
trends, which affect or may affect its businesses and operations.
Although Kosmos believes that these estimates and forward-looking
statements are based upon reasonable assumptions, they are subject to
several risks and uncertainties and are made in light of information
currently available to Kosmos. When used in this press release, the
words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or
other similar words are intended to identify forward-looking statements.
Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Kosmos, which may
cause actual results to differ materially from those implied or
expressed by the forward-looking statements. Further information on such
assumptions, risks and uncertainties is available in Kosmos’ Securities
and Exchange Commission (“SEC”) filings. Kosmos undertakes no
obligation and does not intend to update or correct these
forward-looking statements to reflect events or circumstances occurring
after the date of this press release, except as required by applicable
law. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in their
entirety by this cautionary statement.
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Copyright Business Wire 2018
Source: Business Wire
(September 17, 2018 - 2:00 AM EDT)
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