DALLAS--(BUSINESS WIRE)--Oct. 5, 2020-- Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) announced today that it has closed a Gulf of Mexico facility with Beal Bank USA and Trafigura Trading LLC (“Trafigura”).
Kosmos has restructured its previously announced Gulf of Mexico prepayment facility into a five-year $200 million term-loan facility secured against the Company’s U.S. Gulf of Mexico assets. The $50 million advanced under the prepayment agreement with Trafigura announced in June has been rolled into the new facility, structured by CSG Investments, Inc., with the remaining $150 million provided by Beal Bank. The facility, which has an interest rate of approximately 6%, increases the company’s borrowing capacity by $50 million from the initial prepayment agreement, extends the tenor to five years and includes an accordion feature allowing the facility to be expanded up to $300 million.
“The closing and syndication of the Gulf of Mexico facility enhances the company’s strong liquidity position with access to low-cost, flexible financing. Along with free cash generated by our low-cost production assets and proceeds of the recent Shell transaction expected this quarter, the company’s balance sheet is expected to strengthen into 2021,” said Neal Shah, Chief Financial Officer.
As of September 30, 2020, following the closing of the Gulf of Mexico facility, the Company has approximately $650 million of available liquidity ahead of the conclusion of the fall RBL redetermination which we expect to conclude shortly.
Ad blocker detected: Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.
Kosmos Energy Strengthens Liquidity Position With Closing of $200 Million Gulf of Mexico Facility
-
- Site Admin
- Posts: 3186
- Joined: Sat Aug 29, 2020 5:40 am
- Location: Singapore
- Contact:
Jump to
- OIL AND GAS
- OIL AND GAS INDUSTRY
- ↳ Financial Results
- ↳ Market News
- ↳ Energy Outlook
- ↳ Petroleum Economics and Energy Policy
- ↳ Health, Safety and Environment
- SHIPPING, PORTS & LOGISTICS
- ↳ Shipping
- ↳ Ports & Terminals
- OIL AND GAS UPSTREAM
- ↳ Seismic, G&G
- ↳ Exploration
- ↳ Drilling & Completion
- ↳ Field Development
- ↳ Subsea Construction & Engineering
- ↳ Decommissioning
- ↳ Field Enhanced Recovery
- ↳ Offshore Services
- OIL AND GAS MIDSTREAM
- ↳ Pipelines and Subsea Pipelines
- ↳ LNG Terminals
- ↳ Marketing & Trading
- OIL AND GAS DOWNSTREAM
- ↳ Petrochemicals and Refineries Plants
- ↳ Marketing & Distribution
- ↳ Marine Terminals
- ↳ LNG to Power
- OIL AND GAS PROJECTS & ASSETS
- ↳ North America
- ↳ Central America
- ↳ South America
- ↳ Barents Sea, Norwegian Sea and Russia
- ↳ North Sea
- ↳ West Africa
- ↳ East Africa
- ↳ North Africa, Mediterranean Sea, Black Sea and Caspian
- ↳ Middle East and the Persian/Arabian Gulf
- ↳ South Asia
- ↳ South East Asia
- ↳ Australia and New Zealand
- ↳ South China Sea
- ↳ East Asia
- OIL AND GAS TECHNOLOGY
- ↳ FPSO, FPU, FSO, FDPSO, FSRU, FLNG, Jack-Up, Drilling Rigs
- ↳ FPSO/FSO/FPU contracts
- ↳ Altera Infrastructure (Teekay Offshore)
- ↳ BW Offshore
- ↳ SBM Offshore
- ↳ MODEC
- ↳ Yinson
- ↳ Bumi Armada
- ↳ MISC Berhad
- ↳ Rubicon Offshore
- ↳ Samsung Heavy Industries
- ↳ Hanwha Ocean (fka. DSME)
- ↳ Sembcorp Marine
- ↳ Keppel Offshore & Marine
- ↳ Saipem
- ↳ Bluewater
- ↳ CIMC Raffles
- ↳ KSOE
- ↳ TechnipEnergies
- ↳ CNPC/CPOE
- ↳ MTC Group
- ↳ Drydocks World Dubai
- ↳ Omni Offshore
- ↳ Euronav
- ↳ STX Corporation
- ↳ Petrofac
- ↳ Maersk FPSO
- ↳ COSCO
- ↳ Estaleiros do Brasil Ltda
- ↳ EMAS Offshore
- ↳ COOEC
- ↳ Drilling Rigs Contracts
- ↳ Valaris
- ↳ Transocean
- ↳ Borr Drilling
- ↳ Diamond Offshore
- ↳ Maersk Drilling
- ↳ Seadrill
- ↳ COSL Drilling
- ↳ Noble Drilling
- ↳ ARO Drilling
- ↳ Stena Drilling
- ↳ Northern Drilling
- ↳ Awilco Drilling
- ↳ PV Drilling
- ↳ Odfjell Drilling
- ↳ Shelf Drilling
- ↳ Grupo R
- ↳ Japan Drilling Company
- ↳ Vantage Drilling
- ↳ Bluewhale Offshore
- ↳ Northern Offshore
- ↳ Dolphin Drilling
- ↳ Velesto Energy
- ↳ Türkiye Petrolleri Anonim Ortaklığı (TPAO)
- ↳ Jindall Drilling
- ↳ Northern Ocean
- ↳ Island Drilling
- ↳ Saipem
- ↳ CPOE
- ↳ GSP Offshore
- ↳ ADES
- ↳ Arabian Drilling
- ↳ ADNOC Drilling
- ↳ Ocyan SA
- ↳ OC Offshore
- ↳ Eldorado Drilling
- ↳ Support/Construction/Offshore Vessels
- ↳ DOF Subsea
- ↳ ALP
- ↳ Subsea 7
- ↳ MCDERMOTT
- ↳ POSH
- ↳ Prosafe
- ↳ Floatel
- ↳ Saipem
- ↳ Tidewater
- ↳ Boskalis
- ↳ Siem Offshore
- ↳ OOS International
- ↳ Maersk Supply Service
- ↳ Rig Designs
- ↳ FPSO Designs
- ↳ FLNG, FSRU, FCSU Designs
- ↳ MODEC
- ↳ Technip Energies
- ↳ JGC
- ↳ Sevan SSP
- ↳ GTT
- ↳ Samsung Heavy Industries
- ↳ Bumi Armada
- ↳ DSME
- ↳ Wison Offshore
- ↳ FLNG, FSRU contracts
- ↳ Golar LNG
- ↳ Höegh LNG
- ↳ Excelerate Energy
- ↳ BOTAŞ Petroleum Pipeline Corporation (BOTAS)
- ↳ Samsung Heavy Industries
- ↳ Saipem
- ↳ Sembcorp Marine
- ↳ BW LNG
- ↳ DSME
- ↳ Dynagas
- ↳ MOL
- ↳ Wison Offshore
- ↳ Energos Infrastructure
- ↳ Subsea Engineering
- ↳ Turrets and Moorings
- ↳ SOFEC
- ↳ Bluewater
- ↳ SBM Offshore
- ↳ NOV APL
- ↳ DELMAR
- ↳ Remazel Engineering
- ↳ Seasystems
- ↳ London Marine Consultants
- ↳ Havfram
- ↳ Drilling, Work-over and Intervention
- ↳ Drilling, Work Over, Intervention, and P&A contracts
- ↳ Helix Energy Solutions
- ↳ Drilling Equipment and System contracts
- ↳ Zero Carbon
- ↳ Process / Packages
- ↳ Digital Technology
- ↳ Other Technology
- ↳ EPCI
- ↳ Asset Lifecycle
- ↳ Marine
- OIL AND GAS JOBS
- ↳ Job Agent: Submit your CV!
- ↳ Offshore Production (FPSO, FSO, FPU, Offshore Platforms)
- ↳ Drilling (Oil Rigs, Land Rigs)
- ↳ EPC Project Management (Fabrication Yards)
- ↳ Petrochemicals and Refineries
- ↳ Tankers & Shipping
- ↳ Onshore
- OIL AND GAS LIFE
- ↳ Jobs & Careers - For a better future
- ↳ Learning Hub - All Technical Stuffs
- ↳ Global Citizen - The World is your Oyster
- ↳ North Sea Stories
- ↳ Offshore Norge
- ↳ Middle East Stories
- ↳ Brazil Stories
- ↳ South-East Asia Stories
- ↳ Drilling Rigs
- ↳ FPSOs
Who is online
Users browsing this forum: No registered users and 3 guests