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Kosmos Energy Ltd. (NYSE: KOS) is a pioneering independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. Established in 2003, Kosmos Energy has dedicated itself to creating value for stakeholders, including investors, employees, and the communities in which it operates. The company’s core assets include established production sites and significant development projects offshore Ghana, as well as groundbreaking discoveries offshore Mauritania and Senegal.
Kosmos Energy’s portfolio showcases a range of exploration licenses with substantial hydrocarbon potential in offshore regions such as Mauritania, Morocco, Senegal, Suriname, and Western Sahara. The company's success is underpinned by a rigorous geologically based approach to exploration, which entails comprehensive geologic studies, basin modeling, and advanced 3D seismic analysis to identify promising petroleum systems.
The company is committed to ethical practices, transparency, and corporate responsibility. Kosmos Energy’s business principles highlight its dedication to human rights, safety, and environmental stewardship. This ethos ensures that the company not only excels in subsurface operations but also maintains a strong, positive impact above ground.
Recent achievements for Kosmos Energy include accelerated production field developments and the identification of numerous prospective traps through meticulous subsurface and country-specific analyses. These efforts ensure that the company remains at the forefront of the industry, driving growth and innovation in oil and gas exploration and production.
Stay updated with the latest news and developments from Kosmos Energy Ltd., which continually strives to uphold its values of transparency, ethical conduct, and corporate responsibility while delivering substantial value to all its stakeholders.
Kosmos Energy reported Q3 2024 financial results with net income of $45 million ($0.09 per share). Key metrics include net production of 65,400 boepd, revenues of $408 million, and capital expenditures of $210 million. The company successfully issued $500 million in Senior Notes due 2031 and achieved first oil at Winterfell. Production highlights include Ghana averaging 40,500 boepd, US Gulf of Mexico at 16,900 boepd, and Equatorial Guinea at 8,000 boepd. The company plans to reduce 2025 capital expenditure guidance from $550 million to $400 million, focusing on cash generation and debt reduction.
Kosmos Energy (NYSE/LSE: KOS) has announced the schedule for its third quarter 2024 results. The company will release its earnings on Monday, November 4, 2024, before the UK market opens. The release will be available via Business Wire, Regulatory News Service, and the company's website. A conference call will follow at 11:00 a.m. ET on the same day.
Investors can access the call through various telephone numbers, including toll-free options for the US and UK. Additionally, a webcast will be available on the company's investor relations website. For those unable to attend live, a replay of the webcast will be accessible for approximately 90 days following the event.
Kosmos Energy (NYSE/LSE:KOS) announced the early tender results of its cash tender offers for up to $400 million of 7.125% Senior Notes due 2026 and up to $100 million of 7.750% Senior Notes due 2027 and 7.500% Senior Notes due 2028. As of the Early Tender Time on September 20, 2024:
- $523,736,000 of 2026 Notes were tendered, with $400,000,000 accepted for purchase
- $246,445,000 of 2027 Notes were tendered, with $50,000,000 accepted for purchase
- $247,471,000 of 2028 Notes were tendered, with $49,726,000 accepted for purchase
The Early Settlement Date is set for September 24, 2024. No additional notes will be accepted after the Early Tender Time due to oversubscription. Proration factors were applied to 2026 Notes (46.2980%), 2027 Notes (23.7779%), and 2028 Notes (24.9990%).
Kosmos Energy (NYSE/LSE: KOS) has priced $500 million of 8.750% senior notes due 2031. The offering is expected to close on September 24, 2024, subject to customary conditions. Kosmos plans to use the net proceeds, along with cash on hand, to fund tender offers for a portion of its existing senior notes due in 2026, 2027, and 2028, and to cover related expenses.
The new senior notes are being offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act. They have not been registered under the Securities Act or state securities laws, and cannot be offered or sold in the United States without registration or an applicable exemption.
Kosmos Energy (NYSE/LSE: KOS) has announced plans to offer $500 million in senior notes due 2031, subject to market conditions. The company intends to use the net proceeds, along with cash on hand, to fund tender offers for a portion of its existing senior notes due in 2026, 2027, and 2028. The new senior notes will be offered only to qualified institutional buyers and non-U.S. persons, in compliance with Rule 144A and Regulation S under the Securities Act, respectively.
This announcement is not an offer to sell or a solicitation to buy securities, and the senior notes have not been registered under the Securities Act or any state securities laws. The offering is part of Kosmos Energy's strategy to refinance its existing debt obligations.
Kosmos Energy (NYSE/LSE:KOS) has launched cash tender offers to purchase up to $400 million of its 7.125% Senior Notes due 2026 and up to $100 million of its 7.750% Senior Notes due 2027 and 7.500% Senior Notes due 2028. The tender offers expire on October 7, 2024, with an early tender deadline of September 20, 2024. Early tenders will receive an additional $50 per $1,000 principal amount. Kosmos plans to fund the offers through a new notes offering and cash on hand. The company aims to manage its debt maturity profile and may prioritize allocations to holders who tender notes and subscribe to new notes.
Kosmos Energy (NYSE/LSE: KOS) reported its Q2 2024 results with net income of $60 million, or $0.12 per diluted share. Adjusted net income was $80 million, or $0.17 per diluted share. Key highlights include:
- Net production of ~62,100 boepd, up 7% year-over-year
- Revenues of $451 million
- Capital expenditures of $215 million
- Successful mooring of FPSO vessel for GTA project
- First oil achieved at Winterfell in US Gulf of Mexico
- Drilling campaign commenced in Equatorial Guinea
The company expects to exit 2024 with production around 90,000 boepd. Kosmos remains focused on delivering free cash flow and enhancing financial resilience.
Kosmos Energy (NYSE/LSE: KOS) has scheduled the release of its second-quarter 2024 financial results for August 5, 2024, before the UK market opens.
The company will host a conference call at 11:00 a.m. ET on the same day to discuss the results. Investors can access the earnings release via Business Wire, Regulatory News Service, and the company’s website.
The conference call will be available via telephone and webcast, with a replay accessible on the company’s investor relations website for approximately 90 days.
Kosmos Energy announced the successful start-up of oil production at the Winterfell development in the Green Canyon area of the U.S. Gulf of Mexico. Kosmos holds a 25.04% working interest in Winterfell, which is a phased development. Two initial production wells are now online, with a third expected by Q3 2024, aiming for a gross production of around 20,000 barrels of oil equivalent per day (boepd).
The development is expected to yield approximately 100 million barrels of oil equivalent with future phases anticipated. Despite minor delays, Winterfell's first oil production marks a significant milestone for Kosmos, contributing to its growth targets for year-end 2024. The field, discovered in 2021, is developed via a 13-mile subsea tieback to the host platform in approximately 5,400 feet of water depth. Kosmos emphasizes the project's low carbon intensity, high margins, and quick payback period.
Kosmos Energy announced its financial results for Q1 2024, reporting a net income of $92 million. Adjusted net income was $99 million. Highlights include 66,700 boepd production, $419 million in revenues, and $286 million in capital expenditures. The Company successfully refinanced its RBL facility, enhancing liquidity. Chairman Andrew G. Inglis expressed optimism about growth projects and financial resilience.
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