Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35167 Kosmos Energy Ltd. (Exact name of registrant as specified in its charter) Delaware 98-0686001 (State o ...

Juanmonino/E+ via Getty Images Introduction Kosmos Energy Ltd. (NYSE:KOS) turned in a pretty good report, all things considered, for Q-2, 2024. It did so on a day when the world ended-market wise, so no one cared that it beat on the top and bottom lines. KOS, along with most of the upstream E&P class, has been battered by the slings and arrows of outrageous fortune since peaking in the $8s last year. Price chart for KOS (Seeking Alpha) This leaves the company trading at levels not seen since 2022, when many ...

Kosmos Energy Ltd. (NYSE:KOS) Q2 2024 Earnings Call Transcript August 5, 2024 11:00 AM ET Company Participants Jamie Buckland - VP, IR Andy Inglis - Chairman and CEO Neal Shah - CFO Conference Call Participants David Round - Stifel Charles Meade - Johnson Rice Bob Brackett - Bernstein Research Neil Mehta - Goldman Sachs Mark Wilson - Jefferies Operator Good day, everyone. Welcome to the Kosmos Energy's Second Quarter 2024 Conference Call. As a reminder, today's call is being recorded. At this time, let me t ...

Production and Revenue - The company reported an average production of approximately 123,400 Boepd gross (41,900 Boepd net) from Ghana during Q2 2024[120]. - U.S. Gulf of Mexico production averaged approximately 11,700 Boepd net (~83% oil) for Q2 2024[122]. - Equatorial Guinea production averaged approximately 24,200 Bopd gross (8,500 Bopd net) in Q2 2024[126]. - Total oil and gas revenue for Q2 2024 was $450.9 million, a significant increase from $273.3 million in Q2 2023[132]. - Average oil sales price per barrel was $83.51 in Q2 2024, compared to $75.32 in Q2 2023[132]. - Oil and gas revenue increased by $177.6 million to $450.9 million for the three months ended June 30, 2024, compared to $273.3 million for the same period in 2023, driven by higher sales volumes and prices[134]. - The company sold 5,954 MBoe at an average realized price of $75.73 per barrel equivalent during the three months ended June 30, 2024, compared to 4,116 MBoe at $66.38 per barrel equivalent in the prior year[135]. - For the six months ended June 30, 2024, oil and gas revenue increased by $202.5 million to $870.0 million compared to $667.5 million in the same period of 2023[139]. Costs and Expenses - Total costs and expenses rose by $95.7 million to $315.8 million for the three months ended June 30, 2024, compared to $220.1 million in the same period of 2023[134]. - Oil and gas production costs increased by $87.2 million during the three months ended June 30, 2024, primarily due to higher sales volumes and production costs[136]. Net Income and Financial Performance - Net income for the three months ended June 30, 2024, was $59.8 million, an increase of $36.4 million from $23.3 million in the same period of 2023[134]. - Net cash provided by operating activities for the six months ended June 30, 2024, was $496.2 million, a significant increase from $222.0 million in the same period of 2023, driven by higher sales volumes and oil prices[150]. Debt and Financial Flexibility - The company executed an amendment increasing the borrowing base capacity to approximately $1.35 billion in April 2024[120]. - As of June 30, 2024, borrowings under the Facility totaled $750.0 million, with undrawn availability of $455.0 million[149]. - Total long-term debt as of June 30, 2024, increased to $2.65 billion from $2.43 billion as of December 31, 2023, reflecting ongoing financing activities[152]. - The borrowing base capacity of the Facility was increased to $1.35 billion, with $750 million drawn as of June 30, 2024, providing additional financial flexibility[158]. - The company has no outstanding borrowings under the Corporate Revolver as of June 30, 2024, with undrawn availability of approximately $165 million[161]. Capital Expenditures and Projects - The company plans to spend approximately $750 million on capital expenditures in 2024, including $300 million for maintenance activities and $350-$400 million for the development of key projects in Mauritania and Senegal[155]. - The capital budget for 2024 is based on exploitation and production plans in Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico[147]. - The company expects to incur capital costs for drilling additional wells and executing production activities in Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico[153]. - The Jubilee Field gas sales agreement was extended to November 2025 at a price of approximately $3.00 per MMBtu[121]. - The Greater Tortue liquefied natural gas project is on track for first gas expected in August 2024[127]. - The Tiberius project in the U.S. Gulf of Mexico is progressing with a final investment decision expected later in 2024[124]. - The company plans to conduct a new 4D seismic survey in Ghana starting in early 2025[121]. Derivatives and Risk Management - The company recorded a loss of $21.0 million on derivatives for the six months ended June 30, 2024, compared to a gain of $3.8 million in the same period of 2023[143]. - The fair value of outstanding derivative contracts was a net liability of $6.975 million, reflecting the company's exposure to commodity price risk[183][187]. - The company utilizes various oil derivative contracts, including collars, put options, and call options, to mitigate exposure to commodity price risk[185]. - The company entered into Dated Brent two-way collar contracts for 2.0 million barrels from January 2025 through June 2025, with a floor price of $70.00 and a ceiling price of $95.00 per barrel[187]. - A hypothetical 10% increase in commodity futures prices would decrease future pre-tax earnings by approximately $14.2 million, while a 10% decrease would increase future pre-tax earnings by approximately $8.1 million[187]. - The company manages market and counterparty credit risk in accordance with established policies, determining the timing and extent of derivative transactions[182]. Compliance and Financial Covenants - The company remains in compliance with financial covenants under its Facility and Corporate Revolver as of March 31, 2024[159]. - The company is actively monitoring macroeconomic conditions that could impact liquidity and financial performance, particularly in credit and equity markets[163]. Convertible Senior Notes - The company has issued 3.125% Convertible Senior Notes with an initial conversion price of approximately $7.02 per share, allowing holders to convert notes into 142.4501 shares per $1,000 principal amount[169]. - The company may redeem the 3.125% Convertible Senior Notes for cash after March 22, 2027, if the stock price exceeds 130% of the conversion price for at least 20 trading days[172]. - The company has entered into capped call transactions to reduce potential dilution upon conversion of the 3.125% Convertible Senior Notes, with an initial cap price of $10.80 per share[174]. Risks and Accounting Policies - The company is subject to various risks including macroeconomic conditions, oil price volatility, and regulatory changes that may impact future performance[178]. - The company has critical accounting policies related to revenue recognition and estimates of proved oil and natural gas reserves, which may change based on new information[177]. - The company's revenues and future growth rates are highly dependent on crude oil prices, which have historically been volatile[184].

1 Second Quarter 2024 Results NYSE/LSE: KOS August 5, 2024 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments that Kosmos Energy Ltd. ("Kosmos" or the "Company") expects, believes or anticipates will or may occur i ...

While the investment market is unpredictable, one of the closest signals you can get to an early warning radar is unusual options activity. This indicator can tell you what the smart money is betting on. Recently, an increase in bullish wagers for offshore oil and gas producer Kosmos Energy (NYSE:KOS) has piqued curiosity. Essentially, market professionals see robust upside in KOS stock over the next half-year period. Such an outlook – while speculative – is also quite rational. For one thing, the Federal R ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35167 Kosmos Energy Ltd. (Exact name of registrant as specified in its charter) Delaware 98-0686001 (State or ot ...

Exhibit 99.1 NEWS RELEASE 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 of $99 million, or $0.21 per diluted ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35167 Kosmos Energy Ltd. (Exact name of registrant as specified in its charter) | Delaware 98-0686001 | | --- | | (St ...

Kosmos Energy Ltd. (NYSE:KOS) Q4 2023 Results Conference Call February 26, 2024 11:00 AM ET Company Participants Jamie Buckland - Vice President of Investor Relations Andrew Inglis - Chairman and CEO Neal Shah - CFO Conference Call Participants David Round - Stifel Neil Mehta - Goldman Sachs Matt Smith - Bank of America Charles Meade - Johnson Rice Bob Brackett - Bernstein Research Subash Chandra - Benchmark Company Matt Cooper - Peel Hunt Mark Wilson - Jefferies Operator Good day, everyone. Welcome to Kosm ...