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First Reserve Sells Deep Gulf Energy

Energy private equity investor First Reserve has announced an agreement to sell the Deep Gulf Energy companies to Kosmos Energy for a total consideration of $1.225billion, subject to post-closing adjustments, regulatory approval and the satisfaction of customary closing conditions. DGE is a deepwater oil and gas exploration and development business operating in the Gulf of Mexico. Neil Wizel, Managing Director at First Reserve, stated, "Over the last 13 years, we have backed the Deep Gulf team in three separate vehicles, leveraging a focused, low-cost strategy to create value in the deepwater Gulf of Mexico. We are pleased to see the recognition of this value for...