Kosmos Energy Ltd Stock Price, News & Analysis

Kosmos Energy Ltd. (NYSE: KOS) reported a net loss of $29 million, or $0.07 per diluted share, for Q3 2021. Adjusted for specific items, the adjusted net loss was $43 million, or $0.11 per diluted share. The company recently completed an acquisition from Occidental Petroleum for interests in Ghana, enhancing short-term production and cash flow. Average net production was 49,300 boepd, with revenues of $199 million. Despite challenges such as Hurricane Ida, Kosmos aims to increase EBITDAX and cash flow in 2022, driven by growing production and a strengthened balance sheet.

Kosmos Energy (NYSE: KOS) has announced the schedule for its third quarter 2021 financial results:

• Earnings Release: November 08, 2021, prior to UK market open via Business Wire and their website.
• Conference Call: November 08, 2021, at 11:00 AM EST, accessible by phone and webcast.

For dial-in details, call centers include a toll-free number at 1-877-407-0784 and international at 1-201-689-8560. A replay will be available for 90 days post-event. Kosmos focuses on deepwater oil and gas exploration along the Atlantic Margins, with production assets in Ghana, Equatorial Guinea, and the Gulf of Mexico.

Kosmos Energy Ltd. (NYSE:KOS) announced the pricing of $400 million in senior notes with a 7.750% interest rate due 2027. This offering is expected to close on October 26, 2021, subject to usual conditions. The proceeds will refinance existing private placement notes used for acquiring Anadarko WCTP Company. The notes will not be registered under the Securities Act, limiting their sale to qualified institutional buyers and non-U.S. persons. Kosmos is a leading independent oil and gas exploration company with assets in diverse locations.

Kosmos Energy Ltd. (NYSE: KOS) announced its plan to offer $400 million in senior notes due 2027, subject to market conditions. The proceeds will be used to refinance an equal amount of private placement notes issued during its acquisition of Anadarko WCTP Company. The offering is targeted at qualified institutional buyers and is not registered under the Securities Act. Kosmos is focused on deepwater oil and gas exploration, mainly in regions such as Ghana, Equatorial Guinea, and the Gulf of Mexico.

Kosmos Energy Ltd. (NYSE:KOS) has announced a public offering of 37.5 million shares of common stock, priced at $3.30 per share. The underwriters also have a 30-day option to purchase an additional 5.625 million shares. The offering aims to close on October 19, 2021. Proceeds will be utilized to repay outstanding borrowings related to the acquisition of Anadarko WCTP Company. Barclays, BofA Securities, and Jefferies are acting as joint book-runners. The offering is made under a shelf registration statement filed with the SEC on June 21, 2021.

Kosmos Energy has acquired an additional 18.0% interest in the Jubilee field and 11.0% interest in the TEN fields in Ghana from Occidental Petroleum for $550 million. The assets are expected to generate approximately $1 billion in free cash flow by the end of 2026 at $65/barrel Brent. This acquisition simplifies Kosmos' partnerships in these fields and is highly accretive, with a projected payback of less than three years. The transaction supports Kosmos' ESG goals and aims to deleverage the balance sheet.

Kosmos Energy Ltd. (NYSE:KOS) has announced a registered underwritten public offering of 37,500,000 shares of common stock, with an additional 5,625,000 shares available through underwriters' options. The net proceeds will be used to repay borrowings related to the acquisition of Anadarko WCTP Company. Barclays, BofA Securities, and Jefferies are managing the offering, filed under an effective shelf registration statement with the SEC. This offering is aimed at strengthening the company's financial position following its recent acquisition.

Kosmos Energy Ltd. (NYSE: KOS) reported a net loss of $57 million, or $0.14 per diluted share, for Q2 2021, with an adjusted net loss of $10 million. Production averaged 51,600 boepd, contributing to revenues of $384 million. The company completed key transactions, including a successful sale and leaseback of the GTA FPSO, and amended its reserve-based lending facility, extending it until March 2027. Kosmos generated $115 million in free cash flow and aims for year-end production of 60,000 boepd, with an improved financial position bolstered by increased cash generation.

Kosmos Energy (NYSE: KOS) completed the sale and leaseback of the Greater Tortue Ahmeyim (GTA) FPSO, securing funding for its development costs. The company's 2021 capital expenditures for the GTA project are now estimated at $190 million, reduced from $350 million, with proceeds from the transaction covering remaining cash calls. Kosmos plans to refinance National Oil Company loans for an additional $100 million. Key milestones in the GTA project include completion of the floating LNG vessel and subsea trees construction, demonstrating strong progress.