Kosmos Energy Ltd Stock Price, News & Analysis

Kosmos Energy (NYSE: KOS) reported on September 15, 2022, that its floating production, storage, and offloading vessel (FPSO) for the Greater Tortue Ahmeyim project drifted 200 meters due to Typhoon Muifa. BP, the project operator, confirmed that the FPSO has returned to the COSCO shipyard in China. Current inspections have shown no significant damage, and the project will undergo further evaluations before sailaway. An update is expected with the third-quarter results in early November.

Kosmos Energy (NYSE: KOS) reported an incident during Typhoon Muifa affecting the Greater Tortue Ahmeyim (GTA) project. The floating production, storage, and offloading vessel (FPSO), under construction at the COSCO shipyard in China, drifted approximately 200 meters due to compromised mooring lines. Fortunately, no injuries were reported. The company anticipates that costs to return the vessel and any damage incurred will be covered by insurance. Further updates will be provided as information becomes available.

Kosmos Energy Ltd. (KOS) reported a net income of $117 million ($0.25 per diluted share) for Q2 2022, with adjusted net income at $132 million ($0.28 per diluted share). Average net production reached ~62,200 boepd, aligning with guidance. Revenues amounted to $620 million, with production expenses at $90 million. The company generated approximately $67 million in free cash flow for the quarter and $290 million for the first half of 2022, while reducing net leverage to ~1.6x. Key projects, including the Greater Tortue Ahmeyim LNG project, are progressing towards completion.

Kosmos Energy (NYSE: KOS) has scheduled its second quarter 2022 earnings release for August 8, 2022, before the UK market opens. The announcement will be disseminated via Business Wire, the Regulatory News Service, and the company's website. A conference call will follow on the same day at 11:00 a.m. EST, available via telephone and webcast. Details for dial-in numbers and the webcast are provided in the release. Kosmos is an independent oil and gas company focused on deepwater exploration and production.

Kosmos Energy announced first-quarter 2022 results, achieving a net income of $1 million, or $0.00 per diluted share. Adjusted net income rose to $142 million, or $0.30 per diluted share. The company reported net production of approximately 72,600 boepd, with revenues of $659 million. Key metrics included a $221 million free cash flow and a $330 million reduction in net debt, lowering leverage to ~1.9x. The Greater Tortue LNG project is 75% complete, demonstrating Kosmos's strategic focus on sustainable growth and energy security.

Kosmos Energy (NYSE: KOS) has announced its first quarter 2022 results schedule. The earnings release will occur on May 9, 2022, before the UK market opens, and will be accessible via www.kosmosenergy.com. A conference call is set for the same day at 11:00 a.m. EDT, available through telephone and webcast. Dial-in numbers include 1-877-407-0784 (toll-free) and 1-201-689-8560 (international). A replay of the webcast will be available for 90 days after the event.

Kosmos Energy (NYSE: KOS) has successfully refinanced its revolving credit facility (RCF) and completed a semi-annual re-determination of its reserve-based lending (RBL) facility. The RCF now has a capacity of $250 million with maturity extended to the end of 2024, while the RBL borrowing base capacity is $1.25 billion, with outstanding borrowings of $0.9 billion. Total liquidity has increased to approximately $0.9 billion. Kosmos aims to reduce leverage below 1.5x by year-end 2022.

Kosmos Energy (NYSE: KOS) has completed a pre-emption transaction with Tullow Oil and is in the ongoing process with PetroSA regarding the acquisition of Occidental Petroleum’s interests in Ghana’s Jubilee and TEN fields. Tullow's completion reduces Kosmos' interest in Jubilee by 3.8% to 38.3% and in TEN by 8.3% to 19.8%. The transaction generated approximately $118 million in initial payments, with an additional $10 million expected. The net impact for 2022 includes a reduction of 4,000 barrels of oil per day and a capital expenditure reduction of around $30 million.

Kosmos Energy Ltd. (KOS) reported a strong fourth quarter of 2021, achieving a net income of $99 million ($0.22 per diluted share) and an adjusted net income of $61 million ($0.13 per diluted share). The company completed a $550 million acquisition in Ghana, and net production averaged around 70,000 boepd. Revenues reached $573 million, with a free cash flow of approximately $136 million. Kosmos ended the quarter with record 1P reserves of 300 million barrels and 2P reserves of 580 million barrels. The company anticipates a 50% production increase over the next two years while improving its balance sheet.