Kosmos Energy(KOS)

Search documents
Kosmos Energy(KOS) - 2019 Q4 - Annual Report
2020-02-24 22:58
Financial Position - The company reported a net liability position of $5.2 million in open commodity derivative instruments as of December 31, 2019[470]. - The company had outstanding indebtedness of $1.4 billion under a facility with an interest rate of approximately 5.3% as of December 31, 2019[472]. - The fair value of contracts outstanding as of December 31, 2019, was a net liability of $8,522,000, reflecting changes in contract fair value and contract maturities[463]. - The Company's asset retirement obligations totaled $235.1 million as of December 31, 2019, reflecting significant estimation challenges in determining the present value of dismantlement and reclamation activities[484]. - The Company's long-term debt decreased to $2.008 billion in 2019 from $2.121 billion in 2018, indicating improved financial leverage[496]. - As of December 31, 2019, the company's total oil and gas properties amounted to $5.72 billion, with proved properties valued at $4.90 billion[582]. - The company had outstanding letters of credit totaling $3.1 million as of December 31, 2019, under the LC Facility[614]. - As of December 31, 2019, the total carrying value of the company's debt was $2,042.55 million, with a fair value of $2,064.96 million, compared to a carrying value of $2,161.87 million and a fair value of $2,175.03 million as of December 31, 2018[641]. Revenue and Profitability - Oil and gas revenue for 2019 was $1,499,416, a 69% increase from $886,666 in 2018[500]. - Total revenues and other income reached $1,509,909 in 2019, up from $902,369 in 2018, marking a 67% increase[500]. - Net loss for 2019 was $55,777, an improvement from a net loss of $93,991 in 2018[500]. - The accumulated deficit increased to $1.223 billion in 2019 from $1.167 billion in 2018, indicating ongoing challenges in profitability[498]. - The company recognized $11.5 million in restructuring charges during 2019 related to employee severance and benefits as part of a corporate reorganization[547]. Cash Flow and Assets - Net cash provided by operating activities was $628,150 in 2019, significantly higher than $260,491 in 2018[505]. - Total current assets increased to $566.6 million in 2019 from $509.7 million in 2018, driven by higher cash and receivables[496]. - Cash, cash equivalents, and restricted cash at the end of 2019 totaled $229,346, up from $185,616 at the end of 2018[505]. - The company reported receivables of $2.7 million for doubtful accounts in joint interest billings as of December 31, 2019, compared to $1.2 million in 2018[518]. - The company reported a significant increase in inventories, which rose to $114.4 million in 2019 from $84.8 million in 2018, indicating potential growth in production capacity[496]. Derivative Instruments and Risk Management - The company utilized various oil derivative contracts, including collars, put options, call options, and swaps, to mitigate exposure to commodity price risk[465]. - A hypothetical 10% increase in commodity futures prices would decrease future pre-tax earnings by approximately $54.6 million, while a 10% decrease would increase future pre-tax earnings by approximately $49.2 million[470]. - The company reported a loss of $70.7 million from derivatives not designated as hedging instruments in 2019[635]. - The company had derivative assets valued at $12.9 million and liabilities of $20.4 million as of December 31, 2019[634]. - The company’s total derivatives not designated as hedging instruments resulted in a gain of $1.2 million from oil and gas revenue in 2019[635]. Capital Expenditures and Investments - The company’s capitalized exploratory well costs increased to $445.79 million as of December 31, 2019, with additions of $78.13 million during the year[585]. - The DGE acquisition in September 2018 was valued at $1.275 billion, with $952.6 million in cash and $307.9 million in common stock[562]. - The company completed a farm-out agreement with Shell in November 2019, resulting in a 20% participating interest in Block 6 and a 30% participating interest in Block 11 offshore Sao Tome and Principe[559]. - The company entered into put option contracts for 3.7 million barrels at a weighted average price of $50.00 per barrel for 2020[632]. - The company adopted ASU 2016-02, resulting in a $21.7 million increase in assets and liabilities related to leasing activities[553]. Personnel and Management - The company’s ability to attract and retain qualified technical personnel is critical for its operational success[24]. - The company’s management is focused on risk management activities, including the use of derivative financial instruments to hedge commodity and interest rate risks[27]. Tax and Regulatory Matters - The Tax Cut and Jobs Act reduced the U.S. corporate income tax rate from 35% to 21%, resulting in a $16.7 million charge to deferred tax expense due to adjustments in deferred tax assets[653].
Kosmos Energy(KOS) - 2019 Q3 - Quarterly Report
2019-11-04 18:53
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, 2019 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 ...
Kosmos Energy(KOS) - 2019 Q2 - Quarterly Report
2019-08-05 16:01
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 June 30, 2019 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 https://files.reportify.cc/media/p Kosmos Energy Ltd. (Exact name of registrant as specified in its charter) ...
Kosmos Energy(KOS) - 2019 Q1 - Quarterly Report
2019-05-06 14:41
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, 2019 ☐ 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 ...
Kosmos Energy(KOS) - 2018 Q4 - Annual Report
2019-03-01 02:49
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10‑K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 ☐ 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 (State or other jurisdiction ...