DALLAS – Kosmos Energy (NYSE:KOS) has exercised a provision in the joint operating agreement to acquire Sabre Oil & Gas Holdings Ltd.’s participating interest offshore Ghana in the Deepwater Tano block.
This will boost Kosmos’ interest in Jubilee field from 24.1% to 25.8%. Kosmos’ interest in the block will rise from 18% to 22.05%. The cost is about $365 million plus a possible $45 million if certain performance milestones are met.
The transaction is expected to close in 2Q 2012, pending normal closing conditions and government approvals.