Domestic gas prices of about USD2.9/mcf on average until 2024
Upstream production ramping up to above 60kboe/d in 2023
Dividends of about USD59 million a year up to 2024
Fitch’s Key Assumptions for Recovery Analysis:
The recovery analysis assumes that Seplat would be reorganised as a going-concern (GC) in bankruptcy rather than liquidated.
Seplat’s post-reorganisation, going-concern EBITDA is estimated at around USD223 million, based on the current asset base. A drop in EBITDA to the going-concern level reflects risks associated with hydrocarbon price volatility, potential unplanned downtime and other adverse factors
We have applied a distressed enterprise value (EV)/EBITDA multiple of 4.5x to calculate a going-concern EV, reflecting a mid-cycle multiple for the natural resources sector in the EMEA region and the risks associated with the operating environment in the country of operation.
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10 Mar, 2021 Author Dyna Mariel Bade
U.S. oil and gas companies covered by S&P Global Market Intelligence raised $7.76 billion of capital in February, a decrease from the approximately $13.65 billion of capital recorded in January. Debt offerings contributed the most with $7.22 billion, while common stock offerings and private placements brought in total capital of $537.8 million.
As of February, only oil and gas exploration and production companies recorded an increase from the year-ago period, after raising $9.70 billion. Oil and gas storage and transportation companies pulled in $9.77 billion, a decline from $16.60 billion a year earlier. Oil and gas refining and marketing companies raked in $1.94 billion, a drop from $2.00 billion in the prior-year period.
March 4, 2021 and is payable semi-annually in arrears each
March 1 and
September
1, commencing on
September 1, 2021. The Notes are senior, unsecured obligations
of the Company and rank equal in right of payment with all of its existing and
future senior indebtedness (including all borrowings under the revolving credit
facility (the Corporate Revolver ) and its 7.125% Senior Notes due 2026 (the 7.125% Notes )) and rank effectively junior in right of payment to all of its
existing and future secured indebtedness (including all borrowings under the
commercial debt facility (the Facility ) and all borrowings under the secured
term loan (the GoM Term Loan ).
The Notes are guaranteed on a senior, unsecured basis by certain subsidiaries
Kosmos Energy Ltd (LSE:KOS) | RNS | Kosmos Energy Ltd - Pricing of Senior Notes proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
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Kosmos Energy Announces Pricing of $450 Million of Senior Notes Due 2028
February 25, 2021 GMT
DALLAS (BUSINESS WIRE) Feb 25, 2021
Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today the pricing of $450 million aggregate principal amount of its 7.500% senior notes due 2028. The offering was upsized by $50 million over the previously announced offering size of $400 million. The offering is expected to close on March 4, 2021, subject to customary closing conditions. Kosmos intends to use the net proceeds from the offering to repay outstanding indebtedness under its revolving credit facility and commercial debt facilities and for general corporate purposes.