Kosmos Energy Ltd says it has started a formal process to sell down its interest in the Mauritania-Senegal basin to around 10 percent and expects bids by the end of the summer.
The company said in February it had discovered a “significant and valuable resource” in Mauritania and Senegal.
The company said oil and gas revenue more than doubled for the three months ended March 31, to $296.8 million on higher production in Ghana.
On an adjusted basis, the company lost 6 cents per share, smaller than analysts’ estimates of a loss of 7 cents per share, according to IBES data from Refinitiv.
Quarterly production rose to 5.1 million barrels of oil equivalent, compared to 3.8 million barrels of oil equivalent a year earlier.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
Ghana ranked 7th globally as biggest beneficiary of World Bank funding
2 mins -
IMF board to disburse $360m to Ghana in December after third review
7 mins -
Former Bono Regional NPP organiser donates 13 motorbikes to 12 constituencies
12 mins -
Securities industry: Assets under management estimated at GH¢81.7bn in quarter 3, 2024
17 mins -
Gold Fields Ghana Foundation challenges graduates to maximise benefits of community apprenticeship programme
2 hours -
GBC accuses Deputy Information Minister Sylvester Tetteh of demolishing its bungalow illegally
2 hours -
Boost for education as government commissions 80 projects
2 hours -
NAPO commissions library to honour Atta-Mills’ memory
2 hours -
OmniBSIC Bank champions health and wellness with thriving community walk
2 hours -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
2 hours -
NDC supports Dampare’s ‘no guns at polling stations’ directive
3 hours -
Police officer interdicted after video of assault goes viral
3 hours -
KNUST’s Prof. Reginald Annan named first African recipient of World Cancer Research Fund
3 hours -
George Twum-Barimah-Adu pledges inclusive cabinet with Minority and Majority leaders
4 hours -
Labourer jailed 5 years for inflicting cutlass wounds on businessman
4 hours