Kosmos in Gulf of Mexico acquisition
DALLAS, September 18, 2018 – Kosmos Energy has closed the acquisition of Deep Gulf Energy, enlarging its Gulf of Mexico presence, the company announced on Monday.
The deal, first announced in June, adds estimated 2P reserves of 80 million boe to Kosmos’ portfolio, as well as an output capacity of 25,000 boepd. Its price tag is USD 1.23 billion.
“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,” the company statement said. “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.”