Kosmos Energy Ltd SEC Filings

Kosmos Energy (KOS) reported a Q3 2025 net loss of $124.3 million on oil and gas revenue of $311.0 million. Year‑to‑date, revenue was $995.2 million with a net loss of $322.6 million. Operating cash flow fell to $98.7 million for the nine months, reflecting lower realized prices, delayed Jubilee cargoes, and pre‑production and early ramp‑up costs tied to Greater Tortue Ahmeyim (GTA) Phase 1. Cash and cash equivalents were $64.0 million, with total debt principal of $3.03 billion, including $1.125 billion drawn on the Facility and $225 million undrawn availability.

In July, lenders amended the Facility’s debt cover ratio to a maximum of 4.0x for September 2025 and 4.25x for March 2026, reverting to 3.50x thereafter. Management notes circumstances under which the company may not meet the covenant at the March and September 2026 assessment dates and outlined a mitigation plan to reduce TEN operating and corporate costs and potentially monetize hedges. In October, Kosmos funded a $150 million Gulf of America secured term loan and redeemed $150 million of 7.125% notes. Shares outstanding were 478,326,954 as of October 30, 2025.

Kosmos Energy Ltd. furnished a Form 8-K to announce that it issued a news release with results for the fiscal quarter ended September 30, 2025.

The news release is provided as Exhibit 99.1 and is incorporated by reference. The company states the information is being furnished and is not deemed “filed” for purposes of Section 18 of the Exchange Act.

Kosmos Energy Ltd. filed a Form 8-K reporting a conditional notice of partial redemption for $150,000,000 principal amount of its 7.125% senior notes due 2026. The notice was issued on September 25, 2025 and the company states that redemption of the specified notes will occur on October 6, 2025. The filing references Item 1.01 in relation to Item 2.03 but does not include additional details about funding source, remaining outstanding principal, or the specific terms of the redemption beyond the principal amount, coupon and redemption date.

Kosmos Energy Ltd. is the subject of a joint Schedule 13G filing by American Century Investment Management, Inc., American Century Companies, Inc. and Stowers Institute for Medical Research reporting beneficial ownership of 33,411,046 shares, representing 7.0% of the outstanding common stock. The filing shows sole voting power for 30,486,885 shares and sole dispositive power for 33,411,046 shares, indicating the filers exercise direct control over voting and disposition of the reported shares.

The filing notes that ACIM acts as an investment adviser and is a wholly owned subsidiary of ACC controlled by Stowers Institute, and includes a certification that the securities are held in the ordinary course of business and not for the purpose of changing or influencing control. The parties have consented to a joint filing for these holdings.

Hotchkis and Wiley Capital Management, LLC reports beneficial ownership of 21,210,674 Kosmos Energy common shares, representing 4.44% of the outstanding class. The filing shows sole voting power over 19,135,974 shares and sole dispositive power over 21,210,674 shares, and notes some clients retain voting power so the adviser can dispose of more shares than it can vote.

The filer is identified as a Delaware investment adviser and certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer. This disclosure is reported on Schedule 13G/A as a passive ownership position.

Kosmos Energy (KOS) Q2-25 10-Q highlights

• Revenue deterioration: Q2 sales fell 13% YoY to $392.6 M; H1 revenue down 22% to $682.8 M, hurt by lower liftings and weaker Brent pricing.
• Earnings swing: Net loss of $87.7 M (-$0.18/sh) versus $59.8 M profit last year; H1 loss $198.3 M (-$0.42/sh). Gross production costs nearly doubled YoY to $243.1 M while DD&A rose 68% to $151.3 M.
• Cash squeeze: Operating cash flow collapsed to $126.3 M in H1 (vs $496.2 M); cash balance down to $51.7 M from $85.0 M at year-end.
• Leverage: Total debt enlarged to $2.90 B (+$100 M); current maturities $250 M due within 12 months. Net debt/EBITDAX exceeded covenant; lenders waived restricted-cash requirement and loosened the debt-cover ratio to 4.25× through Mar-26.
• Asset progress: Greater Tortue Ahmeyim (GTA) Phase 1 achieved commercial operations in Jun-25, triggering first LNG revenue and increasing long-term receivables from national oil companies to $444.7 M.
• Capex & hedging: H1 capex trimmed to $172.8 M (prior-year $553.0 M). ~8 MMbbl of 2025-26 production hedged with collars/swaps (floors $50-60/bbl).
• Equity impact: Book value slid 15% YTD to $1.02 B as accumulated deficit widened.

Outlook: Near-term liquidity rests on GTA cash inflow, Jubilee infill drilling and maintenance of covenant headroom. High debt load, rising operating costs and volatile oil prices remain key risks.