Welcome to our dedicated page for Kosmos Energy Ltd. news (Ticker: KOS), a resource for investors and traders seeking the latest updates and insights on Kosmos Energy Ltd. stock.
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 (NYSE: KOS) announced the departure of the floating production, storage and offloading vessel (FPSO) for the Greater Tortue Ahmeyim (GTA) liquefied natural gas project from a shipyard in China. The vessel's journey spans approximately 12,000 nautical miles, with an estimated arrival in the project's site near the maritime border of Mauritania and Senegal in the second quarter of 2023. The project was about 90% complete by the end of 2022, marking a significant milestone for Kosmos. The CEO, Andrew G. Inglis, anticipates an active year ahead with several key achievements for the project and the company.
Kosmos Energy Ltd. (KOS) reported a net income of $222 million for Q3 2022, equating to $0.47 per diluted share. Adjusted net income was $90 million ($0.19 per diluted share). Net production averaged ~60,900 boepd, a 20% increase from Q3 2021. Revenue reached $456 million with capital expenditures of $203 million. Free cash flow was approximately $32 million for the quarter, totaling $320 million for nine months. Phase One of the Greater Tortue Ahmeyim LNG project is 85% complete, with continued debt repayment reducing net leverage to ~1.5x. Further production growth is anticipated by 2024.
Kosmos Energy (NYSE: KOS) has announced its schedule for the third quarter 2022 earnings results. The earnings release is set for Monday, November 7, 2022, before the UK market opens. A conference call will follow on the same day at 11:00 a.m. EST, accessible via telephone and webcast. Investors can find further details and listen to the call through the company's website, with a replay available for approximately 90 days post-event.
Kosmos operates in key regions including Ghana, Equatorial Guinea, the U.S. Gulf of Mexico, Mauritania, and Senegal.
Kosmos Energy (NYSE: KOS) reported on September 15, 2022, that its floating production, storage, and offloading vessel (FPSO) for the Greater Tortue Ahmeyim project drifted 200 meters due to Typhoon Muifa. BP, the project operator, confirmed that the FPSO has returned to the COSCO shipyard in China. Current inspections have shown no significant damage, and the project will undergo further evaluations before sailaway. An update is expected with the third-quarter results in early November.
Kosmos Energy (NYSE: KOS) reported an incident during Typhoon Muifa affecting the Greater Tortue Ahmeyim (GTA) project. The floating production, storage, and offloading vessel (FPSO), under construction at the COSCO shipyard in China, drifted approximately 200 meters due to compromised mooring lines. Fortunately, no injuries were reported. The company anticipates that costs to return the vessel and any damage incurred will be covered by insurance. Further updates will be provided as information becomes available.
Kosmos Energy Ltd. (KOS) reported a net income of $117 million ($0.25 per diluted share) for Q2 2022, with adjusted net income at $132 million ($0.28 per diluted share). Average net production reached ~62,200 boepd, aligning with guidance. Revenues amounted to $620 million, with production expenses at $90 million. The company generated approximately $67 million in free cash flow for the quarter and $290 million for the first half of 2022, while reducing net leverage to ~1.6x. Key projects, including the Greater Tortue Ahmeyim LNG project, are progressing towards completion.
Kosmos Energy (NYSE: KOS) has scheduled its second quarter 2022 earnings release for August 8, 2022, before the UK market opens. The announcement will be disseminated via Business Wire, the Regulatory News Service, and the company's website. A conference call will follow on the same day at 11:00 a.m. EST, available via telephone and webcast. Details for dial-in numbers and the webcast are provided in the release. Kosmos is an independent oil and gas company focused on deepwater exploration and production.
Kosmos Energy announced first-quarter 2022 results, achieving a net income of $1 million, or $0.00 per diluted share. Adjusted net income rose to $142 million, or $0.30 per diluted share. The company reported net production of approximately 72,600 boepd, with revenues of $659 million. Key metrics included a $221 million free cash flow and a $330 million reduction in net debt, lowering leverage to ~1.9x. The Greater Tortue LNG project is 75% complete, demonstrating Kosmos's strategic focus on sustainable growth and energy security.
Kosmos Energy (NYSE: KOS) has announced its first quarter 2022 results schedule. The earnings release will occur on
Kosmos Energy (NYSE: KOS) has successfully refinanced its revolving credit facility (RCF) and completed a semi-annual re-determination of its reserve-based lending (RBL) facility. The RCF now has a capacity of
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