$KOS

Kosmos Energy Ltd.

CIK:0001509991|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues and other income:
Oil and gas revenue	$ 607,253		$ 392,635		$ 977,981	$ 682,770
Gain on sale of assets	9,421		600		9,421	600
Other income, net	361		283		530	579
Total revenues and other income	617,035		393,518		987,932	683,949
Costs and expenses:
Oil and gas production	179,429		243,118		310,024	410,426
Exploration expenses	3,197		4,069		22,941	13,738
General and administrative	19,263		19,074		46,973	45,329
Depletion, depreciation and amortization	120,501		151,268		240,374	271,935
Interest and other financing costs, net	53,700		54,834		112,502	106,676
Derivatives, net	(51,809)		(21,566)		200,187	(14,834)
Other expenses, net	10,281		6,481		13,545	8,470
Total costs and expenses	334,562		457,278		946,546	841,740
Income (loss) before income taxes	282,473		(63,760)		41,386	(157,791)
Income tax expense	97,698		23,980		82,185	40,555
Net income (loss)	$ 184,775	$ (225,574)	$ (87,740)	$ (110,606)	$ (40,799)	$ (198,346)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.31		$ (0.18)		$ (0.07)	$ (0.42)
Diluted (in dollars per share)	$ 0.31		$ (0.18)		$ (0.07)	$ (0.42)
Weighted average number of shares used to compute net income (loss) per share:
Basic (in shares)	593,441		478,068		550,060	476,881
Diluted (in shares)	604,713		478,068		550,060	476,881

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (40,799)	$ (198,346)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depletion, depreciation and amortization (including deferred financing costs)	245,671	275,708
Deferred income taxes	(1,268)	1,636
Unsuccessful well costs and leasehold impairments	13,959	162
Change in fair value of derivatives	262,292	(7,883)
Cash settlements on derivatives, net (including $(135.7) million and $9.7 million on commodity hedges during 2026 and 2025)	(198,684)	6,281
Equity-based compensation	14,064	15,707
Gain on sale of assets	(9,421)	(600)
Debt modifications and extinguishments	(1,081)	0
Other	(20,759)	(8,506)
Changes in assets and liabilities:
(Increase) decrease in receivables	(19,990)	70,659
Decrease in inventories and prepaid expenses	17,209	7,542
Increase (decrease) in accounts payable and accrued liabilities	20,373	(36,080)
Net cash provided by operating activities	281,566	126,280
Investing activities
Oil and gas assets	(163,477)	(172,766)
Proceeds on sale of assets	127,034	0
Notes receivable and other investing activities	(11,598)	(86,791)
Net cash used in investing activities	(48,041)	(259,557)
Financing activities
Borrowings under long-term debt	124,167	200,000
Payments on long-term debt	(504,738)	(100,000)
Net proceeds from issuance of senior notes and bonds	350,000	0
Repurchase and redemption of senior notes	(347,184)	0
Net proceeds from issuance of common stock	206,440	0
Payments on finance lease	(14,951)	0
Other financing costs	(8,772)	(1)
Net cash provided by (used in) financing activities	(195,038)	99,999
Net increase (decrease) in cash, cash equivalents and restricted cash	38,487	(33,278)
Cash, cash equivalents and restricted cash at beginning of period	117,744	85,277
Cash, cash equivalents and restricted cash at end of period	156,231	51,999
Supplemental cash flow information
Interest, net of capitalized interest	108,469	101,377
Income taxes, net of refund received	$ 47,908	$ 69,296

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 102,137	$ 91,518
Restricted cash	23,505	0
Receivables	113,022	103,472
Inventories	139,947	172,640
Prepaid expenses and other	13,673	12,428
Derivatives	459	47,816
Total current assets	392,743	427,874
Property and equipment, net	3,351,526	3,733,784
Other assets:
Restricted cash	30,589	26,226
Long-term receivables	472,897	458,793
Deferred tax assets	2,757	3,946
Derivatives	2,335	2,681
Other	57,300	43,322
Total assets	4,310,147	4,696,626
Current liabilities:
Accounts payable	161,981	202,555
Accrued liabilities	343,879	237,609
Current maturities of long-term debt	145,303	132,143
Derivatives	11,633	0
Total current liabilities	662,796	572,307
Long-term liabilities:
Long-term debt, net	2,526,872	2,920,616
Derivatives	5,129	0
Asset retirement obligations	203,444	327,016
Deferred tax liabilities	177,375	305,924
Other long-term liabilities	29,634	42,173
Total long-term liabilities	2,942,454	3,595,729
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 638,126,969 and 522,590,223 issued at June 30, 2026 and December 31, 2025, respectively	6,381	5,226
Additional paid-in capital	2,758,578	2,542,627
Accumulated deficit	(1,823,055)	(1,782,256)
Treasury stock, at cost, 44,263,269 shares at June 30, 2026 and December 31, 2025, respectively	(237,007)	(237,007)
Total stockholders’ equity	704,897	528,590
Total liabilities and stockholders’ equity	$ 4,310,147	$ 4,696,626