Kosmos Energy Ltd Stock Price, News & Analysis

Kosmos Energy (NYSE/LSE: KOS) reported Q4 2024 financial results with a net loss of $7 million ($0.01 per share). Adjusted net loss was $16 million ($0.03 per share). Key metrics include net production of ~66,800 boepd, revenues of $398 million, and capital expenditures of $117 million.

The company achieved significant milestones including first gas production at the GTA LNG project in December 2024 and first LNG production in February 2025. Year-end 2024 2P reserves reached ~528 million barrels of oil equivalent, representing a 137% reserve replacement ratio and a 22-year reserves-to-production ratio.

Financial position shows total long-term debt of $2.8 billion with available liquidity of $535 million. The company plans to reduce 2025 capital expenditure to $400 million, more than 50% lower than the previous year, and targets annual overhead reduction of around $25 million by year-end 2025.

Kosmos Energy (NYSE/LSE: KOS) has achieved first liquified natural gas (LNG) production at the bp-operated Greater Tortue Ahmeyim (GTA) LNG project, located offshore Mauritania & Senegal. The milestone was reached on December 31, 2024, when gas began flowing from wells to the floating production storage and offloading (FPSO) vessel.

The gas undergoes processing at the FPSO to remove condensate, water, and impurities before being delivered to the floating LNG vessel for liquefaction. With liquefaction now commenced, Kosmos will begin recognizing gas entitlement production in its quarterly statements. BP has requested an LNG carrier to arrive this quarter for the first cargo export, marking when Kosmos will start recognizing revenue and generating cash flow from the project.

Kosmos Energy (NYSE/LSE: KOS) has scheduled its fourth quarter 2024 financial results announcement for Monday, February 24, 2025. The company will release its earnings before the UK market opens via Business Wire, Regulatory News Service, and the corporate website. A conference call is scheduled for 11:00 a.m. ET on the same day, accessible through various toll-free and international dial-in numbers. A webcast will be available at investors.kosmosenergy.com, with a replay accessible for approximately 90 days following the event.

Kosmos Energy (NYSE/LSE: KOS) has achieved first gas production at the Greater Tortue Ahmeyim (GTA) LNG project offshore Mauritania and Senegal, as announced by operator bp plc. Gas began flowing on December 31, 2024, from wells to the floating production storage and offloading vessel, preceding delivery to the floating LNG vessel for liquefaction.

Once fully commissioned, GTA Phase 1 is expected to produce approximately 2.3 million tonnes of LNG per annum, with the floating LNG vessel having a nameplate capacity of about 2.7 mtpa. The first LNG cargo is anticipated in Q1 2025, marking the start of revenue recognition from the project.

The company aims to reach a production target of ~90,000 boepd, with plans to reduce capital expenditure and generate free cash flow for debt reduction, targeting a leverage ratio below 1.5x.

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%).