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Kosmos CEO’s salary hits $57m

  • SOURCE: | Editor
  • The Chief ExecutiveOfficer of Kosmos Energy, Brian Maxted is among the highest paid Chief
    Executive Officers in Texas, a state in the United States of America.

    Longnecker & Associates, a Houston-based consulting
    firm that compiled compensation data of Chief Executive Officers in the area
    puts Mr Maxted’s annual salary for 2012 at $57.55 million.

    Kosmos Energy is one of the Jubilee Oilfield partners.
    The oil company currently holds an 18 percent interest in the Deep-water Tano
    Block offshore Ghana.

    Brad Whitmarsh, Vice President of investor relations for
    Kosmos told the consulting firm that Mr Maxted’s compensation was approved by
    company shareholders. He further explained that 2011 was a unique year for
    Kosmos, highlighted by its transition from an eight-year-old private company to
    a public one with an initial public offering in May.

    Kosmos made a major crude oil discovery off the coast of
    Ghana in 2007 and had its first crude oil sales in 2011, resulting in $666.9
    million in revenue. Whitmarsh characterized the pay package as the recognition
    of an “exceptional milestone in our history.”

    “The compensation package was a long-term award, vesting
    over multiple years. It aligns management interest with the interest of
    shareholders,” Whitmarsh said.

    Brian F. Maxted is a leading oil and gas explorationist
    with an impressive record of discoveries and worldwide experience in the
    upstream petroleum business. In his prior role as Kosmos chief operating
    officer, Maxted directed the company’s exploration-led strategy, which led to
    the discovery of the Jubilee Field offshore Ghana, one of West Africa’s most
    important finds in the last decade.

    Before co-founding Kosmos in 2003, he was senior vice
    president of exploration for Triton Energy, where he led a series of
    discoveries offshore Equatorial Guinea. He also managed the discovery of
    several large gas/condensate fields by Carigali-Triton Operating Company in the
    Malaysia-Thailand Joint Development Area and the discovery and confirmation of
    Colombia’s giant Cusiana and Cupiagua oil fields. Following the sale of Triton
    to Amerada Hess Corporation (now Hess Corporation), Maxted oversaw continued
    Hess exploration success in Equatorial Guinea as senior vice president of
    global exploration and new ventures.

    He also led the company’s Gulf of Mexico deepwater
    strategy. Prior to its recent acquisition, Maxted was a member of the board of
    directors of Broad Oak Energy, a company that focuses on improving recovery
    from mature U.S. onshore oil-and-gas producing regions. He holds a master’s
    degree in organic geochemistry and petrology from the University of
    Newcastle-upon-Tyne and a bachelor of science in geology from the University of
    Sheffield.

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