Kosmos Energy sells Equatorial Guinea oil assets to Panoro Energy for $127M
Type: Sale · Technology: Oil Gas · Country: Equatorial Guinea · Value: $127M · Announced: 2026-06-16
Kosmos Energy completed the sale of its interests in the Ceiba Field and Okume Complex production assets in Block G offshore Equatorial Guinea to Panoro Energy for approximately $127 million in cash consideration. The transaction included post-closing adjustments reflecting cash generated by the assets during the first half of 2026 up to the deal's completion on June 16, 2026. The divestment removed producing assets that contributed around 5,800 barrels of oil per day net to Kosmos during 2026 prior to completion. Kosmos also transferred an asset retirement obligation liability of approximately $140 million from its balance sheet as part of the deal. The sale aligns with Kosmos' strategy to streamline its portfolio and focus on core deepwater assets, with proceeds used to repay borrowings under its reserves-based lending credit facility.
Counterparties
- Panoro Energy (Buyer)
- Kosmos Energy (Seller)