AAM 2020
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Kosmos Energy to sell some exploration assets to Shell

Oil and gas producer Kosmos Energy said on Wednesday it agreed to sell certain exploration assets in Africa and South America to a unit of Royal Dutch Shell for up to $200 million.

Shell will acquire the company’s participating interest in blocks offshore São Tomé and Príncipe, Suriname, Namibia and South Africa, Kosmos said in a statement.

Kosmos said it plans to use up to one-third of the initial sale proceeds of $100 million to test two high-quality infrastructure-led exploration prospects in the Gulf of Mexico.

Dallas, Texas-based Kosmos said it expects to realize about $125 million in total savings across capital expenditures over the next two years after the sale.

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