Kosmos Energy repays $150 million of reserves-based lending facility

By Angela McDaniels

Tacoma, Wash., May 8 – Kosmos Energy Ltd. voluntarily repaid $150 million of its reserves-based lending facility during the first quarter of 2017, according to the company’s earnings release.

During the quarter, Kosmos also concluded the semiannual bank redetermination process on the facility. The borrowing base was decreased to $1.3 billion, driven by the remaining loan life under the facility, reducing total liquidity to $1.2 billion effective April 1.

The company said it ended the first quarter with $961 million of net debt.

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

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