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The Guyana-Suriname Basin has an estimated resource potential of more than 13 billion barrels of oil, according to the U.S. Geological Survey.
Kosmos CEO Andrew Inglis said he believes a huge opportunity has opened in the U.S. Gulf of Mexico as many competitors leave the region for onshore shale.
M&A activity in the oil patch is about to heat up as long and short-term drivers, from positive commodity prices to lower cost metrics in deep water and investment in alternative energies, kick in.
Energy XXI said it will terminate its previously announced partnership with Orinoco Natural Resources as a result of the Cox Oil transaction.
The round raised roughly $829 million in signature bonuses and a commitment of $194.2 million in planned investments for exploratory work.