What’s Going on with Kosmos Energy Ltd.?
The oil and gas exploration firm Kosmos Energy Ltd. (KOS), headquartered in Dallas, Texas, has just announced the pricing of its underwritten public offering of 37,500,000 shares of common stock. The company will offer its shares to the public for $3.30 per share.
Pre-market today, KOS stock increased 1.41%, up to $3.60 per share.
What Does This Mean for KOS?
Kosmos Energy will offer 37,500,000 underwritten shares of the company’s common stock at a public price of $3.30 a share, according to a news release. Underwriters will be given a 30-day option to buy up to an additional 5,625,000 shares of common stock at the public offering price, minus underwriting discounts.
Barclays, BofA Securities and Jefferies will act as joint book-running managers for this underwritten public offering, which is expected to close on October 19, 2021, subject to normal closing conditions. Net offering proceeds will go toward “repay outstanding borrowings under its [Kosmos’] commercial debt facility, including borrowings incurred to finance a portion of the previously announced acquisition of Anadarko WCTP Company.”
KOS has an Overall Score of 61. Find out what this means to you and get the rest of the rankings on KOS!
Kosmos Energy Ltd is an independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. The company focuses on field developments designed to accelerate production. Kosmos' exploration is tied to a geologically based approach geared toward the identification of petroleum systems. Its process starts with geologic studies that assess a region's subsurface but also incorporates basin modeling as well as techniques to identify reservoir/seal pair development and trap definition. In addition, a 3D seismic analysis is done to identify prospective traps of interest. In tandem with the subsurface analysis, a country-specific analysis is done to get an understanding of above-ground dynamics before targeting specific licenses.
