Kosmos Energy Ltd Stock Price, News & Analysis

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.

Kosmos Energy (NYSE: KOS) will release its fourth quarter 2021 earnings on February 28, 2022, before the UK market opens. A conference call is scheduled for the same day at 11:00 a.m. EST. Investors can access the earnings release via Business Wire, Regulatory News Service, and the company's website. The dial-in numbers include a toll-free option for North America and the UK. A replay of the conference call will be available for 90 days post-event. Kosmos focuses on deepwater oil and gas exploration primarily in Ghana, Equatorial Guinea, and the Gulf of Mexico.

Kosmos Energy (NYSE: KOS) has successfully completed drilling the Winterfell-2 appraisal well in the Gulf of Mexico. The well, with a working interest of approximately 16.4%, discovered around 40 meters of net oil pay, exceeding pre-drill expectations. This appraisal supports an estimated resource potential of about 100 million barrels. Kosmos has also farmed down some interests in adjacent blocks, retaining a 35% working interest, which enhances the development potential. The company aims to initiate a low-cost development plan by 2024, marking a significant step in its Gulf exploration strategy.

Kosmos Energy (NYSE: KOS) has received notification from Tullow Oil plc and PetroSA regarding their intention to exercise pre-emption rights on the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana. The pre-emption would decrease Kosmos’ interest in Jubilee from 42.1% to 38.3% and in TEN from 28.1% to 19.8%. The purchase price consideration due to Kosmos is estimated at $150 million, contingent on definitive agreements and approvals. Kosmos plans to use proceeds for debt repayment if the sale is finalized.