Kosmos Energy Completes Acquisition of Deep Gulf Energy
September 17 2018 - 2:00AM
Business Wire
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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version on businesswire.com: https://www.businesswire.com/news/home/20180916005007/en/
Kosmos EnergyInvestor RelationsJamie Buckland, +44
(0) 203 954 2831jbuckland@kosmosenergy.comorRhys Williams,
+1-214-445-9693rwilliams@kosmosenergy.comorMedia
RelationsThomas Golembeski,
+1-214-445-9674tgolembeski@kosmosenergy.com
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