The acquisition, which includes Deep Gulf Energy LP, Deep Gulf Energy II LLC, and Deep Gulf Energy III LLC, adds to “an established business with attractive assets and a strong record of growing production and reserves through infrastructure-led exploration,†to Kosmos’s deepwater Atlantic Margin portfolio, the company said.
Production includes 25,000 boe/d, 85% of which is oil, with an reserves-to-production ratio of 8.8, increasing 2018 pro forma production by 50% to 70,000 boe/d. The assets hold 2P reserves of 80 million boe, increasing total 2P reserves by 40% to 280 million boe, the company said.
Kosmos has doubled production over the last 4 years and this acquisition “creates the platform to double production again in the next 4,†said Andrew G. Inglis, chairman and chief executive officer. As companies leave the gulf for onshore shale plays, he said, a “huge opportunity†has opened, and “the best deepwater assets can compete with the best of shale.â€
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