Kosmos Energy today announced it has listed on the London Stock Exchange (LSE), extending a vote of confidence to London's financial centre as the oil explorer seeks to attract international investors.
The US-based company has a market capitalisation of $2.5bn (£1.9bn) and is partnered with oil major BP in an exploration for gas offshore Senegal and Mauritania. It joins 159 oil and gas companies listed in London with a combined market cap of $1 trillion.
The firm has maintained its primary listing on the New York Stock Exchange, and it is the 14th North America-based company to list in London in 2017.
Through the listing, Kosmos gained access to an "unrivalled" pool of international investors with a strong knowledge of the global oil and gas industry, said Chris Mayo, the LSE group's head of primary markets for the Americas.
Mayo said the new listing underlines London's "enduring status as the most international financial centre and an open and dynamic place to do business".
Andrew Inglis, chief executive of Kosmos Energy, said:
This secondary listing is the next step in the company’s evolution.
We selected the LSE for our secondary listing because of its strong liquidity, reputation for transparency, and participants’ knowledge of the role of frontier exploration and development in our industry.
We believe that Kosmos represents a compelling investment proposition both in terms of its upcoming high-impact exploration program and the development of recent gas discoveries.
They said estimates for the Yakaar-1 exploration well offshore Senegal showed a gross gas resource of approximately 15 trillion cubic feet (tcf), in line with pre-drill expectations.
BP has called the West Africa region a "world-class hydrocarbon basin".