Kosmos Energy Ltd Stock Price, News & Analysis

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.

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.