Kosmos adds $200 million of loan commitments for Deep Gulf purchase

By Susanna Moon

Chicago, Aug. 6 – Kosmos Energy said it received $200 million of additional commitments to increase its reserves-based loan facility in connection with its planned acquisition of Deep Gulf Energy for $1,225,000,000.

Under the deal terms, Kosmos will acquire Deep Gulf for $925 million in cash and $300 million in Kosmos common shares issued to First Reserve, management and other Deep Gulf shareholders, according to the announcement.

The company said it plans to fund the cash part of the purchase price with draws under its credit facilities.

The acquisition is expected to close around the end of the third quarter in 2018, subject to regulatory approval.

Kosmos is an oil and gas exploration and production company based in Dallas.

Deep Gulf is deepwater company based in Houston.

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