Kosmos Energy Ltd Stock Price, News & Analysis

Kosmos Energy has announced it will not proceed with a firm offer to acquire Tullow Oil plc at this time, following earlier preliminary discussions. The company is now bound by Rule 2.8 of the City Code on Takeovers and Mergers restrictions. Kosmos reserves the right to revisit this decision under specific circumstances, including: if Tullow's Board agrees, if a third party makes a firm offer for Tullow, if Tullow announces a Rule 9 waiver proposal or reverse takeover, or if the UK Panel on Takeovers and Mergers determines a material change in circumstances.

Kosmos Energy (NYSE: KOS) has confirmed preliminary discussions with Tullow Oil (LSE: TLW) regarding a potential all-share offer to acquire Tullow. The company emphasizes that there is no certainty an offer will be made or regarding potential terms. According to regulatory requirements, Kosmos must either announce a firm intention to make an offer or declare no intention by 5:00 PM on January 9, 2025. The deadline can be extended with Takeover Panel consent.

Kosmos Energy reported Q3 2024 financial results with net income of $45 million ($0.09 per share). Key metrics include net production of 65,400 boepd, revenues of $408 million, and capital expenditures of $210 million. The company successfully issued $500 million in Senior Notes due 2031 and achieved first oil at Winterfell. Production highlights include Ghana averaging 40,500 boepd, US Gulf of Mexico at 16,900 boepd, and Equatorial Guinea at 8,000 boepd. The company plans to reduce 2025 capital expenditure guidance from $550 million to $400 million, focusing on cash generation and debt reduction.

Kosmos Energy (NYSE/LSE: KOS) has announced the schedule for its third quarter 2024 results. The company will release its earnings on Monday, November 4, 2024, before the UK market opens. The release will be available via Business Wire, Regulatory News Service, and the company's website. A conference call will follow at 11:00 a.m. ET on the same day.

Investors can access the call through various telephone numbers, including toll-free options for the US and UK. Additionally, a webcast will be available on the company's investor relations website. For those unable to attend live, a replay of the webcast will be accessible for approximately 90 days following the event.

Kosmos Energy (NYSE/LSE:KOS) announced the early tender results of its cash tender offers for up to $400 million of 7.125% Senior Notes due 2026 and up to $100 million of 7.750% Senior Notes due 2027 and 7.500% Senior Notes due 2028. As of the Early Tender Time on September 20, 2024:

- $523,736,000 of 2026 Notes were tendered, with $400,000,000 accepted for purchase
- $246,445,000 of 2027 Notes were tendered, with $50,000,000 accepted for purchase
- $247,471,000 of 2028 Notes were tendered, with $49,726,000 accepted for purchase

The Early Settlement Date is set for September 24, 2024. No additional notes will be accepted after the Early Tender Time due to oversubscription. Proration factors were applied to 2026 Notes (46.2980%), 2027 Notes (23.7779%), and 2028 Notes (24.9990%).

Kosmos Energy (NYSE/LSE: KOS) has priced $500 million of 8.750% senior notes due 2031. The offering is expected to close on September 24, 2024, subject to customary conditions. Kosmos plans to use the net proceeds, along with cash on hand, to fund tender offers for a portion of its existing senior notes due in 2026, 2027, and 2028, and to cover related expenses.

The new senior notes are being offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act. They have not been registered under the Securities Act or state securities laws, and cannot be offered or sold in the United States without registration or an applicable exemption.

Kosmos Energy (NYSE/LSE: KOS) has announced plans to offer $500 million in senior notes due 2031, subject to market conditions. The company intends to use the net proceeds, along with cash on hand, to fund tender offers for a portion of its existing senior notes due in 2026, 2027, and 2028. The new senior notes will be offered only to qualified institutional buyers and non-U.S. persons, in compliance with Rule 144A and Regulation S under the Securities Act, respectively.

This announcement is not an offer to sell or a solicitation to buy securities, and the senior notes have not been registered under the Securities Act or any state securities laws. The offering is part of Kosmos Energy's strategy to refinance its existing debt obligations.

Kosmos Energy (NYSE/LSE:KOS) has launched cash tender offers to purchase up to $400 million of its 7.125% Senior Notes due 2026 and up to $100 million of its 7.750% Senior Notes due 2027 and 7.500% Senior Notes due 2028. The tender offers expire on October 7, 2024, with an early tender deadline of September 20, 2024. Early tenders will receive an additional $50 per $1,000 principal amount. Kosmos plans to fund the offers through a new notes offering and cash on hand. The company aims to manage its debt maturity profile and may prioritize allocations to holders who tender notes and subscribe to new notes.

Kosmos Energy (NYSE/LSE: KOS) reported its Q2 2024 results with net income of $60 million, or $0.12 per diluted share. Adjusted net income was $80 million, or $0.17 per diluted share. Key highlights include:

- Net production of ~62,100 boepd, up 7% year-over-year
- Revenues of $451 million
- Capital expenditures of $215 million
- Successful mooring of FPSO vessel for GTA project
- First oil achieved at Winterfell in US Gulf of Mexico
- Drilling campaign commenced in Equatorial Guinea

The company expects to exit 2024 with production around 90,000 boepd. Kosmos remains focused on delivering free cash flow and enhancing financial resilience.