Business Wire·Feb 24, 2026, 4:17 PM ET

Kosmos Energy Announces Sale of Equatorial Guinea Production Assets to Panoro Energy for up to $219.5 Million

Kosmos Energy agreed to sell its 40.375% non-operating working interest in the Ceiba Field & Okume Complex assets offshore Equatorial Guinea to Panoro Energy.
The transaction includes an upfront cash payment of $180 million plus future contingent payments totaling up to $39.5 million.
Contingent payments consist of $12.5 million linked to Ceiba field production performance & $9 million payable annually in 2027, 2028 & 2029 subject to oil price & production thresholds.
Proceeds will be used to reduce borrowings outstanding under the reserves-based lending credit facility to enhance liquidity & accelerate debt reduction.
The transaction has an effective date of January 1, 2025, is expected to close mid-year 2026, & has received approval from the Government of Equatorial Guinea pending CEMAC customary approval.
Kosmos expects to realize approximately $100 million in total savings across capital expenditures & general administrative expenses over the two-year period post-completion.
The deal aligns with Kosmos strategy to optimize the portfolio by monetizing non-core assets while retaining exposure to future upside through contingent payments.