Warburg Pincus, Blackstone lead $500m investment in Kosmos Energy

Warburg Pincus and Blackstone, alongside the Kosmos management team, previously committed $300m to the company.

The investment provides financial resources for ongoing oil and gas exploration, appraisal and development activities in West Africa, according to a statement.

James C Musselman, Kosmos chairman and CEO, said, 'We are grateful to Warburg Pincus and Blackstone, our funding partners, for their steadfast support. They are providing us with the financial means to aggressively pursue our organic growth strategy and build an exploration and production company of scale in West Africa.'

Kosmos manages an African exploration portfolio that includes positions in Morocco, Cameroon, Nigeria and Benin, in addition to the company's licenses offshore Ghana. The company expects to be an active driller in Ghana with as many as four rigs under contract, according to a statement.

Investments by Warburg Pincus in the energy sector include Newfield Exploration, Spinnaker Exploration, Encore Acquisition Company, Bill Barrett Corp., Targa Resources Partners, MEG Energy Corp. and Antero Resources Corp.

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