NORTH AMERICA

摘要

Independent oil exploration and development company KOSMOS ENERGY has completed a redetermination of its reserve-based lending facility, reducing the drawn amount of the facility by US$130m to US$1.32bn. The reduction in borrowing base capacity is primarily due to lower oil price assumptions from those assumed at the March redetermination, caused by the continuing impact of Covid-19 crisis, Kosmos said. The repayment of the reduction in borrowing base will be made from available liquidity in the fourth quarter. The RBL is secured against the company's production assets in Ghana and Equatorial Guinea with the first amortisation payment scheduled for March 2022. Kosmos' gas assets in Mauritania and Senegal remain unencumbered. Earlier in October, Kosmos said it had agreed a US$200m five-year term loan secured against its assets in the US Gulf of Mexico. That financing replaced a previous prepayment facility. The new term loan sees US$50m advanced under the prepayment agreement with Trafigura in June rolled into the new facility, structured by CSG Investments, Inc. with the remaining US$150m provided by Beal Bank.