Kosmos Energy Ltd Stock Price, News & Analysis

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.

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.