Why Kosmos Energy's Stock Is Moving Today

Kosmos Energy Ltd KOS shares traded higher on Wednesday after the company announced it entered into an agreement with Shell to farm down interests in a portfolio of frontier exploration assets for approximately $100 million, plus future contingent payments of up to $100 million.

Kosmos Energy is an independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. The company focuses on field developments designed to accelerate production. Kosmos' exploration is tied to a geologically based approach geared toward the identification of petroleum systems.

Kosmos Energy shares were trading down 2% at $1.13 at time of publication. The stock has a 52-week high of $7.55 and a 52-week low of 50 cents.