Kosmos Energy Ltd. reported first quarter of 2026 results: revenue $371 million, net income generated a net loss of $226 million, or $0.45 per diluted share, EPS $0.45 per diluted share. Guidance reaffirmed.
“2026. FIRST QUARTER 2026 AND POST QUARTER END HIGHLIGHTS • Net Production (2) : ~74,800 barrels of oil equivalent per day (boepd), up ~25% versus first quarter 2025 • Revenues: $371 million, or $55.81 per boe (excluding the impact of derivative cash settlements) • Production expense: $131 million (or $19.66 per boe), down ~22% versus first quarter 2025 (~$167”
Material Agreements
Kosmos Energy Ltd. entered into Share Sale and Purchase Agreement with Panoro Energy Block G Limited valued at $180 million (effective 2026-02-24).
“On February 24, 2026, Kosmos Energy Operating (“KEO”), a wholly-owned subsidiary of Kosmos Energy Ltd. (“Kosmos” or the “Company”), and Panoro Energy Block G Limited (the “Purchaser”), a wholly-owned subsidiary of Panoro Energy ASA, entered into a Share Sale and Purchase Agreement (the “SPA”) for the sale of all of the shares of KEO’s wholly-owned subsidiary, Kosmos International Petroleum, Inc., which indirectly holds a 40.375% participating interest in the Ceiba Field and Okume Complex production assets located in Block G offshore Equatorial Guinea, for upfront cash consideration of $180 million, subject to certain adjustments, and future contingent consideration of up to $39.5 million”
Debt Financings
Kosmos Energy Ltd. incurred term loan of $150,000,000 (first tranche) and additional commitments of up to $100,000,000 with Shell Trading (US) Company at Term SOFR plus 3.75% per annum maturing 4-year term loan (first tranche).
“Agreement provides for a term loan facility that is structured in two tranches, with the first tranche consisting of a 4-year term loan in an aggregate principal amount of $150,000,000, to be funded on October 1, 2025, and a second tranche comprising commitments to lend up to an additional $100,000,000, available for drawing until April 1, 2026 (collectively, the”
Josh R. Marion was appointed as Senior Vice President, General Counsel and Corporate Secretary at Kosmos Energy Ltd..
“In line with planned succession, Mr. Doughty is being succeeded by Josh R. Marion, the Company’s current Vice President and Deputy General Counsel, who is being appointed Senior Vice President, General Counsel and Corporate Secretary of the Company effective as of the Transition Date.”
Jason E. Doughty departed as Senior Vice President, General Counsel and Corporate Secretary at Kosmos Energy Ltd..
“On July 5, 2024, Jason E. Doughty informed Kosmos Energy Ltd. (the “Company”) that he is stepping down from his role as Senior Vice President, General Counsel and Corporate Secretary of the Company effective as of July 8, 2024 (the “Transition Date”).”
Earnings Releases
Kosmos Energy Ltd. reported the first quarter of 2024 results: revenue $419 million, net income $92 million, EPS $0.19 per diluted share.
“KOSMOS ENERGY ANNOUNCES FIRST QUARTER 2024 RESULTS DALLAS--(BUSINESS WIRE)—May 7, 2024-- Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE/LSE: KOS) announced today its financial and operating results for the first quarter of 2024. For the quarter, the Company generated a net income of $92 million, or $0.19 per diluted share. When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net income (1) of $99 million, or $0.21 per diluted share for the first quarter of 2024. FIRST QUARTER 2024 HIGHLIGHTS • Net Production (2) : ~66,700 barrels of oil equivalent per day (boepd), representing ~13% growth year over year, with sales of ~62,600 boepd • Revenues: $419 million, or $73.52 per boe (excluding the impact of derivative cash settlements) • Production expense: $94 million, or $16.42 per boe • Capital expenditures: $286 million • Successfully completed convertible bond issuance, enhancing liquidity and paying down higher interest floatin”
Debt Financings
Kosmos Energy Ltd. amended revolving credit of $1.35 billion at increase in the interest margin by 0.25% or 0.5% maturing December 31, 2029.
“an increase in the Field Life Cover Ratio to 1.50x from 1.30x. As a result of these amendments (i) total facility size under the A&R RBL has been increased from $1.25 billion to $1.35 billion and (ii) total commitments are approximately $1.2 billion, with the Company expecting to increase total commitments to $1.35 billion as additional lenders complete their final”
Material Agreements
Kosmos Energy Ltd. amended A&R RBL valued at $1.35 billion (effective 2024-04-25).
“On April 25, 2024, Kosmos Energy Ltd. (the “ Company ”) amended and restated its existing commercial debt facility by entering into an amended and restated facility agreement (the “ A&R RBL ”) and certain ancillary documents.”
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