Kosmos Energy Ltd - KOS STOCK NEWS

Kosmos Energy (KOS) reported a solid second quarter, achieving positive cash flow that reduced net debt by approximately $100 million. With sales volumes averaging about 66,000 boepd and a strong operational performance in Ghana, the company remains optimistic about future production growth. The Greater Tortue Ahmeyim project in Mauritania and Senegal experienced some delays, now expecting first gas in Q3 2023 due to cost inflation and supplier delays. Kosmos also has robust liquidity of over $775 million, positioning itself well for the second half of 2021.

Kosmos Energy (NYSE/LSE: KOS) has appointed Roy A. Franklin to its Board of Directors as of June 9, 2021. Franklin brings over 45 years of energy industry experience, currently serving as Chairman of John Wood Group PLC, where he has focused on energy transition strategies. His background includes leadership roles at prominent firms like Premier Oil and Equinor. Kosmos aims to leverage Franklin's expertise in navigating the energy transition, enhancing its positioning in sustainability and ESG matters, as both companies hold an AA MSCI rating.

Kosmos Energy Ltd. (NYSE: KOS) reported a net loss of $91 million for Q1 2021, translating to $0.22 per diluted share. Adjusted for specific items, the loss stood at $33 million ($0.08 per share). The company generated revenue of $176 million with net production averaging 53,100 boepd. Significant milestones included the completion of 58% of the Greater Tortue LNG project's first phase and a successful $450 million senior notes offering. Kosmos exited the quarter with $2.2 billion in net debt and $0.8 billion in available liquidity.

Kosmos Energy (NYSE/LSE: KOS) has successfully amended and extended its reserve based lending (RBL) facility, reducing the overall facility size from $1.5 billion to $1.25 billion. This adjustment aims to decrease reliance on the RBL and associated costs after a recent senior notes issuance. Key changes include a two-year extension to March 2027 and a borrowing base capacity of $1.24 billion. Additionally, the amendment incorporates ESG performance indicators affecting the facility's margin. Current outstanding borrowings are $1.0 billion, and total commitments are expected to reach $1.25 billion by Q2 2021.

Kosmos Energy (NYSE/LSE: KOS) will announce its first quarter 2021 results on May 10, 2021, before the UK market opens. The earnings release will be accessible via Business Wire, Regulatory News Service, and the company's official website. A conference call is scheduled for the same day at 11:00 a.m. EST, available by telephone and webcast. The call can be accessed through dial-in options and a subsequent replay will be available for 90 days at the company’s investor relations site. Kosmos is committed to ethical standards in its operations.

Kosmos Energy has announced the promotion of Tim Nicholson to Senior Vice President and Head of Exploration, and John Shinol to Senior Vice President and Chief Geoscientist. Both have been pivotal in the company’s infrastructure-led exploration efforts since joining Kosmos in 2018. Their previous experience at Cobalt International Energy includes significant discoveries in West Africa and the Gulf of Mexico. Tracey Henderson, the former SVP of Exploration, has left the company. Kosmos aims to leverage its high-quality exploration opportunities for growth in 2021.

Kosmos Energy Ltd. (NYSE: KOS) priced $450 million in 7.500% senior notes due 2028, increased from an earlier $400 million target. The offering is set to close on March 4, 2021, pending customary conditions. Proceeds will be used to repay existing debts and for general corporate purposes. The notes will not be registered under the Securities Act, and are offered only to qualified institutional buyers. Kosmos focuses on deepwater oil and gas exploration, with key assets in Ghana, Equatorial Guinea, and U.S. Gulf of Mexico.

Kosmos Energy Ltd. (NYSE: KOS) plans to offer $400 million in senior notes due 2028, subject to market conditions. The proceeds will be used to repay existing debts and for general corporate purposes. These notes will not be registered under the Securities Act, allowing only qualified institutional buyers to participate. Kosmos is a deepwater independent oil and gas company with key assets in Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico. The company emphasizes transparency and ethical practices in its operations.

Kosmos Energy Ltd. (NYSE: KOS) reported a net income of $8 million for Q4 2020, translating to $0.02 per diluted share. However, adjusting for certain items leads to an adjusted net loss of $49 million or $0.12 per diluted share. Key metrics included net production of 60,200 boepd and revenues of $274 million, with production expenses at $104 million. The company achieved positive free cash flow of $99 million, exiting Q4 with $2 billion in net debt. Kosmos is focused on sustainability, aiming for carbon neutrality by 2030 and has made substantial progress in its Tortue project.