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Kosmos/Trident Acquires Equatorial Guinea Assets From Hess For $650 Million

Announced Date
October 24,2017
Deal Value $
650,000,000
Transaction Type
Property
Buyer
Seller
Working Interest
85%
Source Documents:
   Source Link
   Source Link
   Source Link
Location
Region
Africa - West Africa

Country
Equatorial Guinea

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Production
Production
28,000 Bop/d

Production Mix
100 % Oil


Multiples
Production ($/boe/d)
23,214

Adj. $/acre is based on production @35,000 Boe/d

Transaction Details: 

  Kosmos and Trident has agreede to acquire an interest in three exploration licenses, as well as Hess Corporation’s interest in the adjacent Ceiba Field and Okume Complex assets offshore Equatorial Guinea for $650 million. Kosmos will be primarily responsible for exploration and subsurface evaluation while Trident, a newly formed international oil and gas company supported by Warburg Pincus , will be primarily responsible for production operations and optimization.

During 1H 2017, net production from the company's assets in Equatorial Guinea averaged 28,000 bopd.



Map





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