Kosmos Energy Rolls Out IPO

By Dallas Business Journal

Kosmos Energy has filed with the Securities and Exchange Commission to raise as much as $500 million through an initial public offering, according to SEC filings.

The news comes ten days after the Dallas-based company announced the retirement of its CEO and Chairman James C. Musselman. Musselman is one of the company's original founders.

Brian F. Maxted has since been appointed president and CEO of Kosmos. Kosmos Energy launched in 2003 to explore for oil and gas in under-explored regions in Africa.

One of the companyâ¿¿s major discoveries came in 2007 when it began exploring the Jubilee Field in West Africa off the coast of Ghana. The Jubilee field is one of five discoveries made by Kosmos Energy in Africa.

In August, Exxon Mobil Corp. backed out of a $4 billion deal to buy a stake in Jubilee.

Kosmos says gross oil production from the Jubilee Field is expected to produce 120,000 barrels of oil per day by mid-2011.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/dallas/news/2011/01/14/kosmos-energy-rolls-out-ipo.html?ana=thestreet

Copyright bizjournals.com 2010

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