Texas Energy Co. Boosts Stake In Ghana Oil Field For $365M

Law360, New York (February 27, 2012, 5:34 PM EST) -- Dallas-based oil and gas exploration company Kosmos Energy Ltd. said Monday it has acquired additional interest in an offshore oil project off the coast of Ghana from Sabre Oil & Gas Holdings Ltd. for around $365 million.

Sabre could receive up to an additional $45 million if certain performance milestones are met, according to Kosmos.

The deal increases Kosmos' interest in the Deepwater Tano Block from 18 percent to 22.05 percent, while the company's interest in the Jubilee Field will rise from 24.1 percent to 25.8...
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