Kosmos Energy to sell stake in Equatorial Guinea offshore project to Panoro Energy for up to $219.5mn

About this update from Kosmos Energy Ltd.

Kosmos Energy (NYSE/LSE: KOS) has agreed to sell its 40.375% non-operating interest in the Ceiba Field and Okume Complex offshore Equatorial Guinea to Panoro Energy (OSE:PEN) for up to $219.5mn , as part of efforts to strengthen its balance sheet and streamline its portfolio, the company said in a stock filing. Kosmos is an American deepwater exploration and production company with operations offshore Ghana , Equatorial Guinea , Mauritania , Senegal and the Gulf of Mexico . The deal includes an upfront cash payment of $180mn , with a further $39.5mn in contingent payments tied to production performance and oil price thresholds, according to company statements. Panoro, an independent upstream oil and gas company with assets in Equatorial Guinea , Gabon , and Tunisia , will acquire the Kosmos subsidiary holding the stake in Block G, where the assets are located. Of the additional consideration, $12.5mn is linked to output from the Ceiba field, while $9mn will be payable in each of 2027, 2028 and 2029, subject to agreed conditions. The transaction is expected to close in mid-2026. It has already secured approval from the government of Equatorial Guinea and remains subject to customary clearance from the Central African Economic and Monetary Community . The sale forms part of Kosmos’ strategy to focus capital on core, higher-return assets and reduce debt. Proceeds will be used to repay borrowings under its reserves-based lending credit facility, with the aim of improving liquidity and accelerating deleveraging. Over the two years following completion, the company expects to achieve around $100mn in savings across capital expenditure and general and administrative costs. Kosmos chairman and CEO Andrew G. Inglis said the transaction reflects continued capital discipline and is intended to reinforce balance sheet resilience while maintaining exposure to potential upside through contingent payments. © 2026 bne IntelliNews, source Magazine

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