Kosmos Energy Ltd Stock Price, News & Analysis

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.

Kosmos Energy (NYSE/LSE: KOS) announced the schedule for its second quarter 2021 results. The earnings release will occur on August 09, 2021, before the UK market opens, available via Business Wire and the company's website. A conference call is set for the same day at 11:00 a.m. EST, accessible via phone and webcast. Dial-in numbers include toll-free and international options. A replay of the conference call will be available for approximately 90 days. Kosmos Energy focuses on deepwater oil and gas exploration and production across the Atlantic Margins.

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.