Oil and gas company Kosmos Energy Ltd. said on May 6 it has started a formal process to sell down its interest in the Mauritania-Senegal basin to around 10% and expects bids by the end of the summer.
The company said in February it had discovered a "significant and valuable resource" in Mauritania and Senegal.
The company said oil and gas revenue more than doubled for the three months ended March 31, to $296.8 million on higher production in Ghana.
On an adjusted basis, the company lost 6 cents per share, smaller than analysts' estimates of a loss of 7 cents per share, according to IBES data from Refinitiv.
Quarterly production rose to 5.1 million barrels of oil equivalent, compared to 3.8 million barrels of oil equivalent a year earlier.
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In pursuit of the lowest cost and most efficient option, there’s been a shift away from Northern white sand from mines in northern states to regional, or in-basin, sand from mines closer to home.
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