Panoro buying Kosmos Energy’s production assets off Equatorial Guinea for up to $219.5M

February 25th, 2026

U.S.-headquartered oil and gas exploration and production company Kosmos Energy has agreed to sell its 40.375% non-operating working interest in production assets offshore Equatorial Guinea to UK-headquartered independent E&P company Panoro Energy for up to $219.5 million.

Source: Kosmos Energy via LinkedIn

Panoro Energy is set to acquire Kosmos Energy‘s subsidiary that owns an interest in Block G where the Ceiba field and Okume Complex production assets are located, with an upfront $180 million cash payment, subject to certain adjustments, plus contingent payments of $12.5 million linked to production performance at Ceiba and $9 million payable in each of 2027, 2028 and 2029, which are subject to certain oil price and production thresholds.

With an effective date of January 1, 2025, the transaction is anticipated to close in mid-2026. It has already received approval from the Government of Equatorial Guinea, and completion only remains subject to CEMAC customary approval.

According to Kosmos, the transaction enhances liquidity from monetizing non-core assets and accelerates debt reduction. Proceeds will be used to reduce borrowings outstanding under the reserves-based lending (RBL) credit facility.

Over the two-year period post-completion, the company said it expects to realize approximately $100 million in total savings across capital expenditures and general and administrative expenses.

“This transaction reflects our continued focus on capital discipline and balance sheet resilience. The high-grading of the portfolio by accelerating the monetization of later-life, non-operated production assets enables Kosmos to focus our capital and expertise on our world-class assets where we can add the most value for our stakeholders over the long-term,” said Andrew G. Inglis, Kosmos Energy’s Chairman and Chief Executive Officer.

“The proceeds from the transaction enhance liquidity and accelerate debt reduction, while the contingent payments ensure we retain exposure to future upside.”