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Kosmos Energy Ltd (KOS.N)

KOS.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Kosmos Energy Abandons Offshore Well In Suriname
Wednesday, 10 Oct 2018 02:00am EDT 

Oct 10 (Reuters) - Kosmos Energy Ltd ::ANNOUNCES RESULTS OF PONTOENOE-1 WELL AND PROVIDES OPERATIONAL AND FINANCIAL UPDATE.COMPLETED DRILLING PONTOENOE-1 EXPLORATION WELL IN BLOCK 42 OFFSHORE SURINAME.PROSPECT WAS FULLY TESTED BUT DID NOT DISCOVER COMMERCIAL HYDROCARBONS.HIGH-QUALITY RESERVOIR WAS ENCOUNTERED, BUT PRIMARY EXPLORATION OBJECTIVE PROVED TO BE WATER BEARING.WELL WILL BE PLUGGED AND ABANDONED AND WELL RESULTS INTEGRATED INTO ONGOING EVALUATION OF REMAINING PROSPECTIVITY IN KOSMOS' ACREAGE POSITION.FOR FULL YEAR 2018, KOSMOS EXPECTS TO GENERATE SUBSTANTIAL FREE CASH FLOW.REMAINS ON TRACK TO MEET COMPANY'S PREVIOUSLY COMMUNICATED YEAR-END 2018 NET LEVERAGE TARGET.STRONG CASH FLOW GENERATION WILL ALLOW KOSMOS TO INITIATE A DIVIDEND IN Q1 OF 2019.AT JUBILEE, PRODUCTION AVERAGED APPROXIMATELY 94,500 BARRELS OF OIL PER DAY (BOPD) FOR QUARTER.AT TEN, PRODUCTION AVERAGED APPROXIMATELY 62,600 BOPD FOR QUARTER.EQUATORIAL GUINEA ON TRACK FOR ONE-YEAR PAYBACK.PRODUCTION IN EQUATORIAL GUINEA AVERAGED APPROXIMATELY 42,500 BOPD IN Q3.GULF OF MEXICO PRODUCTION DURING PERIOD FROM TRANSACTION CLOSE UNTIL END OF Q3 AVERAGED APPROXIMATELY 24,200 BOEPD.EXPECTS TO BE ACTIVE IN 2019 WITH A NUMBER OF EXPLORATION AND APPRAISAL OPPORTUNITIES.KOSMOS NOW EXPECTS 2018 CAPITAL EXPENDITURES TO TOTAL APPROXIMATELY $400 MILLION.  Full Article

Kosmos Energy Enters Gulf Of Mexico With $1.225 Bln Acquisition Of Deep Gulf Energy
Monday, 6 Aug 2018 02:00am EDT 

Aug 6 (Reuters) - Kosmos Energy Ltd ::KOSMOS ENERGY ENTERS GULF OF MEXICO WITH $1.225 BILLION ACQUISITION OF DEEP GULF ENERGY.IMMEDIATELY ACCRETIVE ACQUISITION ENHANCES SCALE OF THE COMPANY AND IS EXPECTED TO GENERATE SIGNIFICANT FREE CASH FLOW.KOSMOS ENERGY - WILL ACQUIRE DGE FOR TOTAL CONSIDERATION OF $1.225 BILLION, COMPRISED OF $925 MILLION IN CASH AND $300 MILLION IN KOSMOS COMMON SHARES.KOSMOS ENERGY - IN CONNECTION WITH DEAL, KOSMOS HAS RECEIVED $200 MILLION OF ADDITIONAL FIRM COMMITMENTS TO INCREASE RESERVES-BASED LOAN FACILITY CAPACITY.ADDS APPROXIMATELY 25,000 BARRELS OF OIL EQUIVALENT PER DAY (BOED) PRODUCTION (85% OIL).  Full Article

Kosmos Energy Posts Net Loss Of $103.3 Mln For Q2 2018
Monday, 6 Aug 2018 01:57am EDT 

Aug 6 (Reuters) - Kosmos Energy Ltd ::FOR Q2 OF 2018, COMPANY GENERATED A NET LOSS OF $103.3 MILLION.REMAIN ON TRACK TO DELIVER $100 TO $200 MILLION OF NET CASH FLOW IN 2018.EXITED Q2 OF 2018 WITH APPROXIMATELY $1.3 BILLION OF LIQUIDITY AND $1,079 MILLION OF NET DEBT.QTRLY ADJUSTED LOSS PER SHARE $0.09.EXPECT TO MAKE A FINAL INVESTMENT DECISION (FID) ON TORTUE PROJECT AROUND END OF YEAR.SECOND QUARTER 2018 OIL REVENUES WERE $215 MILLION VERSUS $136 MILLION IN THE SAME QUARTER OF 2017.Q2 RESULTS INCLUDED A MARK-TO-MARKET LOSS OF $140 MILLION RELATED TO COMPANY'S OIL DERIVATIVE CONTRACTS.GROSS PRODUCTION FROM JUBILEE AVERAGED APPROXIMATELY 67,900 BARRELS OF OIL PER DAY DURING Q2 RESULTING IN KOSMOS LIFTING TWO CARGOS.GROSS PRODUCTION FROM TEN AVERAGED APPROXIMATELY 61,500 BOPD DURING Q2, RESULTING IN KOSMOS LIFTING ONE CARGO.  Full Article

Kosmos Energy Extends Maturity Date Of Revolving Credit Facility To May 31, 2022
Friday, 3 Aug 2018 02:00am EDT 

Aug 3 (Reuters) - Kosmos Energy Ltd ::KOSMOS ENERGY -AMENDMENT AND RESTATEMENT OF CORPORATE REVOLVING CREDIT FACILITY INVOLVES EXTENDING MATURITY DATE TO MAY 31, 2022.  Full Article

Kosmos Energy Announces Amendment And Restatement Of Corporate Revolving Credit Facility
Friday, 3 Aug 2018 02:00am EDT 

Aug 3 (Reuters) - Kosmos Energy Ltd ::KOSMOS ENERGY ANNOUNCES AMENDMENT AND RESTATEMENT OF CORPORATE REVOLVING CREDIT FACILITY.BORROWING CAPACITY REMAINS AT $400 MILLION.DATE OF MATURITY HAS BEEN EXTENDED BY ABOUT THREE AND ONE-HALF YEARS TO MAY 31, 2022.FACILITY COSTS HAVE BEEN LOWERED FROM LIBOR PLUS A SIX PERCENT MARGIN TO LIBOR PLUS A FIVE PERCENT MARGIN.  Full Article

Kosmos Energy Provides Suriname Activity Update
Monday, 21 May 2018 02:01am EDT 

May 21 (Reuters) - Kosmos Energy Ltd ::KOSMOS ENERGY SAYS ANAPAI-1 WELL DRILLING IN BLOCK 45 OFFSHORE SURINAME ENCOUNTERED SHALLOW BORE HOLE STABILITY ISSUES BEFORE REACHING TARGET INTERVAL.KOSMOS ENERGY LTD SAYS KOSMOS AND ITS PARTNER WILL RE-SPUD WELL, ANAPAI-1A, TARGETING SAME OBJECTIVES.KOSMOS ENERGY LTD SAYS ANAPAI-1A IS EXPECTED TO SPUD IMMINENTLY, AND WILL TAKE APPROXIMATELY 50 TO 60 DAYS TO DRILL WITH RESULTS EXPECTED EARLY IN Q3.  Full Article

Kosmos Energy Reports Q1 Adjusted Loss Of $0.06/Share
Monday, 7 May 2018 02:00am EDT 

May 7 (Reuters) - Kosmos Energy Ltd ::KOSMOS ENERGY ANNOUNCES FIRST QUARTER 2018 RESULTS.Q1 LOSS PER SHARE $0.13.Q1 EARNINGS PER SHARE VIEW $-0.13 -- THOMSON REUTERS I/B/E/S.Q1 ADJUSTED LOSS PER SHARE $0.06.Q1 REVENUE $127.2 MILLION VERSUS I/B/E/S VIEW $143.3 MILLION.KOSMOS EXITED Q1 OF 2018 WITH APPROXIMATELY $1.3 BILLION OF LIQUIDITY AND $1,069 MILLION OF NET DEBT.Q1 2018 OIL REVENUES WERE $127.2 MILLION VERSUS $103.4 MILLION IN THE SAME QUARTER OF 2017, ON SALES OF 1.9 MILLION BARRELS OF OIL IN 2018.DURING Q1 OF 2018, GROSS SALES VOLUMES FROM GHANA AVERAGED APPROXIMATELY 132,400 BARRELS OF OIL PER DAY.AT JUBILEE, GROSS PRODUCTION AVERAGED APPROXIMATELY 63,800 BARRELS OF OIL PER DAY IN Q1.TOTAL CAPITAL EXPENDITURES IN THE FIRST QUARTER WERE $58 MILLION.JUBILEE TURRET REMEDIATION WORK IS PROGRESSING AS PLANNED WITH STABILIZATION SHUTDOWN BEING CONDUCTED IN TWO PHASES.SECOND PHASE OF JUBILEE TURRET REMEDIOATION IS EXPECTED TO COMMENCE DURING Q2 OF 2018.ANTICIPATED THAT JUBILEE OIL PRODUCTION WILL BE OFFLINE FOR AROUND TWO WEEKS AS A CONSEQUENCE OF SHUTDOWN.AT JUBILEE, ANTICIPATED GAS SYSTEM WILL BE SHUT-IN FOR SLIGHTLY LONGER TO COMPLETE NON-TURRET RELATED MAINTENANCE.NOW EXPECT ROTATION OF VESSEL TO TAKE PLACE AROUND END OF 2018 WITH MINIMAL IMPACT TO PRODUCTION IN 2018.GROSS PRODUCTION FROM TEN IN Q1 AVERAGED APPROXIMATELY 68,600 BOPD.DRILLING ACTIVITY AT TEN IS EXPECTED TO ALLOW PRODUCTION TO INCREASE TOWARDS FPSO CAPACITY OF 80,000 BOPD.  Full Article

Kosmos Energy reports Q3 loss per share $0.16
Monday, 6 Nov 2017 02:03am EST 

Nov 6 (Reuters) - Kosmos Energy Ltd :Kosmos Energy announces third quarter 2017 results.Q3 loss per share $0.16.Q3 earnings per share view $-0.10 -- Thomson Reuters I/B/E/S.Q3 adjusted loss per share $0.09.Q3 revenue $151.2 million versus I/B/E/S view $149.8 million.‍realized oil revenues, including impact of company's hedging program, were $55.57 per barrel of oil sold in Q3 of 2017​.  Full Article

Norway wealth fund ends exclusion of investment in Cairn, Kosmos

OSLO Norway's sovereign wealth fund, the world's largest, will no longer exclude Cairn Energy Plc and Kosmos Energy Ltd from its portfolio of investments, the Norwegian central bank said on Tuesday.