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KOS

Kosmos

$7.66

-0.03 (-0.39%)

05:25
08/06/18
08/06
05:25
08/06/18
05:25

Kosmos announces acquisition of Deep Gulf Energy for $1.225B

Kosmos Energy announced that the company has entered into an agreement to acquire Deep Gulf Energy, or DGE, a deepwater company operating in the Gulf of Mexico, from First Reserve and other shareholders for a total consideration of $1.225B, subject to certain adjustments. 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. Under the terms of the transaction, Kosmos will acquire DGE for total consideration of $1.225B, comprised of $925M in cash and $300M in Kosmos common shares issued to First Reserve, management, and other DGE shareholders. Kosmos intends to fund the cash portion of the purchase price with borrowings under its existing credit facilities. In connection with the transaction, Kosmos has received $200M of additional firm commitments to increase its reserves-based loan facility capacity. The acquisition is expected to close around the end of the third quarter 2018, subject to receipt of regulatory approval and the satisfaction of customary closing conditions.

  • 06

    Aug

KOS Kosmos
$7.66

-0.03 (-0.39%)

07/05/18
RBCM
07/05/18
UPGRADE
Target $10
RBCM
Outperform
Kosmos upgraded to Outperform at RBC Capital on oil outlook, Tortue development
As reported earlier, RBC Capital analyst Al Stanton upgraded Kosmos (KOS) to Outperform from Sector Perform and raised his price target to $10 from $7. The analyst cites his more positive outlook for higher oil price as well as more upbeat BP (BP) commentary on Tortue gas development offshore Mauritania/Senegal. Stanton estimates the company's production growth reaching 50% in FY18, with higher realisations and oil prices in 2019 leading to another 20% increase in output.
07/05/18
RBCM
07/05/18
UPGRADE
RBCM
Outperform
Kosmos upgraded to Outperform from Sector Perform at RBC Capital
06/11/18
JEFF
06/11/18
UPGRADE
Target $9.5
JEFF
Buy
Kosmos upgraded to Buy from Hold at Jefferies
Jefferies analyst Mark Wilson upgraded Kosmos Energy to Buy and raised his price target for the shares to $9.50 from $7.10. The analyst also raised his per-barrel Brent price forecast to $77 from $64 in 2018, to $75 from $60 in 2019, and to $70 from $65 in 2020. Wilson says Kosmos' two-well exploration program offshore Suriname is the most material program across his coverage this year.
05/17/18
LEHM
05/17/18
UPGRADE
Target $9.4
LEHM
Overweight
Kosmos upgraded to Overweight from Equal Weight at Barclays
Barclays analyst James Hosie upgraded Kosmos Energy to Overweight and raised his price target for the shares to $9.40 from $7.25. The analyst believes exploration differentiates Kosmos from peers in 2018 and thinks "strong" production and cash flow growth can make the stock an "appealing option" for investors seeking oil price leverage.

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GD

General Dynamics

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FFIN

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$61.60

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CUTR

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SMTX

SMTC Corp.

$4.41

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SNE

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VRRM

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EQH

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DIS

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STML

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REV

Revlon

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ATR

AptarGroup

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XELA

Exela Technologies

$3.82

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