Kosmos Energy(US:KOS)2025-08-04 15:00Production and Operations - Second quarter net production was approximately 63,500 boepd[11] - Kosmos is targeting 27 mtpa FLNG nameplate capacity for GTA in the fourth quarter of 2025[9] - Jubilee's first producer from the 2025/26 drilling program came online in late July[9] - Winterfell-4 was successfully drilled and is expected to add approximately 1,000 boepd net rate when it comes online at the end of the third quarter of 2025[39] - Gross oil production from Ceiba & Okume averaged approximately 22,000 bopd in the second quarter[17] Financial Performance and Guidance - Kosmos expects fiscal year 2025 capital expenditures to be approximately $350 million, reduced from a previous estimate of $400 million[9,47] - Kosmos is targeting a $25 million overhead reduction by year-end 2025[10] - Kosmos has agreed to indicative terms for a Gulf of America term loan of up to $250 million to repay 2026 maturities[9,41] - Kosmos anticipates operating expenses per barrel of oil equivalent (Opex/boe) to decrease as production increases[9] - Kosmos expects 3Q 2025 net production to be 65,000 – 71,000 boe/day and FY 2025 net production to be 65,000 – 70,000 boe/day[50] Hedging and Risk Management - Kosmos has hedged 5 million barrels of remaining oil production for 2025 with a floor of approximately $62/barrel and a ceiling of approximately $77/barrel[47] - Kosmos has hedged 7 million barrels of oil production for 2026 with a floor of approximately $66/barrel and a ceiling of approximately $75/barrel, targeting approximately 50% of 2026 oil production to be hedged[47]