Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 2 highly experienced directors. Independent Director Mike Stice was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • May 06
Kosmos Energy Ltd. Provides Production Guidance for the Second Quarter of 2026 Kosmos Energy Ltd. provided production guidance for the second quarter of 2026. For the quarter, the company expects production to be between 70,000 boe per day to 74,000 boe per day. Annonce • Apr 17
Kosmos Energy Ltd., Annual General Meeting, May 28, 2026 Kosmos Energy Ltd., Annual General Meeting, May 28, 2026. Annonce • Apr 16
Kosmos Energy Ltd. to Report Q1, 2026 Results on May 05, 2026 Kosmos Energy Ltd. announced that they will report Q1, 2026 results Pre-Market on May 05, 2026 Annonce • Feb 25
Panoro Energy ASA (OB:PEN) entered into a definitive agreement to acquire an additional 40.38% stake in Ceiba Field and Okume Complex production assets offshore Equatorial Guinea of Kosmos Energy Ltd. (NYSE:KOS) for approximately $220 million. Panoro Energy ASA (OB:PEN) entered into a definitive agreement to acquire an additional 40.38% stake in Ceiba Field and Okume Complex production assets offshore Equatorial Guinea of Kosmos Energy Ltd. (NYSE:KOS) for approximately $220 million on February 24, 2026. A cash consideration of $180 million will be paid by Panoro Energy ASA. Panoro Energy ASA will pay an earnout/contingent payment of $39.5 million dependent on production performance. Upon completion, Panoro Energy ASA will own 54.62% stake in Ceiba Field and Okume Complex production assets offshore Equatorial Guinea of Kosmos Energy Ltd. The transaction will be financed through $49 million private placement and $150 million under the Panoro Energy's existing senior secured bonds with ISIN NO0013415786, and available funds of Panoro Energy.
The transaction has received approval from the Government of Equatorial Guinea, and completion only remains subject to CEMAC customary approval. The expected completion of the transaction is in mid-year 2026. Proceeds from the transaction will be used to reduce borrowings outstanding under the reserves-based lending credit facility. Annonce • Feb 20
Kosmos Energy Announces Ratification of Ghana License Extensions by Parliament Kosmos Energy announced that the license extensions for the West Cape Three Points and Deepwater Tano Petroleum Agreements, which cover the Jubilee and TEN fields in Ghana, have been formally ratified by the Ghanaian parliament. The licenses now extend to 2040. The license extensions bring key benefits to Ghana including up to $2 billion in incremental investment as well as higher volumes of affordable gas from the fields for domestic power generation. As part of the extensions, the amended Jubilee plan of development will include up to 20 additional wells in the field and, as a result, Kosmos expects to realize an increase in Jubilee 2P reserves. At the Jubilee field, the J74 well that came online in early January is now fully ramped up. Gross daily production from the well is ~13,000 barrels of oil per day (bopd), increasing average gross Jubilee oil production to over 70,000 bopd in February month-to-date, in line with Kosmos expectations. The first well of the five-well 2026 drilling campaign, J75, has been drilled, encountering approximately 40 meters of net pay. J75 is expected to be completed in three zones, similar to the J74 and J72 wells, and is expected online around the end of the first quarter. At the TEN fields, the partnership has signed this week a sale and purchase agreement (SPA) to acquire the floating production, storage and offloading vessel (FPSO) for a gross consideration of $205 million ($40 million net to Kosmos) to be paid upon completion at the end of the first quarter of 2027. Signing of the SPA is expected to result in material operating expense reductions in 2026 onwards. In Mauritania and Senegal, Phase 1 of the Greater Tortue Ahmeyim (GTA) LNG project shipped 3.5 gross LNG cargos in January. The field has averaged production of 2.9 million tonnes per annum (mtpa) equivalent (vs. 2.7 mtpa nameplate capacity) year-to-date, highlighting the continued strong operating performance of the asset. On the financial side of the business, in January, Kosmos successfully completed a $350 million Norwegian bond that was well supported by both existing and new investors. Kosmos used $100 million to repay borrowings under the Reserve Base Lending (RBL) facility with the remainder to be used to repurchase Kosmos' 2027 senior unsecured notes. The company has also started to hedge 2027 production with two million barrels of oil hedged with a floor of $60/barrel. Annonce • Feb 02
Kosmos Energy Ltd. to Report Q4, 2025 Results on Mar 02, 2026 Kosmos Energy Ltd. announced that they will report Q4, 2025 results Pre-Market on Mar 02, 2026 New Risk • Jan 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Annonce • Nov 03
Kosmos Energy Ltd. Provides Production Guidance for the Fourth Quarter 2025 and Full Fiscal Year 2025 Kosmos Energy Ltd. provided production guidance for the fourth quarter 2025 and full fiscal year 2025. For the fourth quarter, the company expects production to be 66,000 boe per day - 72,000 boe per day.
For the year, the company expects production to be 65,000 boe per day. Annonce • Oct 07
Kosmos Energy Ltd. to Report Q3, 2025 Results on Nov 03, 2025 Kosmos Energy Ltd. announced that they will report Q3, 2025 results Pre-Market on Nov 03, 2025 Annonce • Aug 23
Kosmos Energy Ltd. Announces Executive Changes, Effective September 30, 2025 On August 19, 2025, Christopher J. Ball informed Kosmos Energy Ltd. that he has decided to retire as Kosmos Energy Ltd.'s Chief Commercial Officer, effective September 30, 2025. Mr. Ball's role and responsibilities will be transitioned to Mr. Neal D. Shah, the Company's Chief Financial Officer, who will assume oversight of the Company's commercial matters. Annonce • Aug 04
Kosmos Energy Ltd. Provides Production Guidance for the Third Quarter 2025 and Full Fiscal Year 2025 Kosmos Energy Ltd. provided production guidance for the third quarter 2025 and full fiscal year 2025. For the third quarter, the company expects production to be 65,000 boe per day - 71,000 boe per day.
For the year, the company expects production to be 65,000 boe per day - 70,000 boe per day. Annonce • Jul 08
Kosmos Energy Ltd. to Report Q2, 2025 Results on Aug 04, 2025 Kosmos Energy Ltd. announced that they will report Q2, 2025 results Pre-Market on Aug 04, 2025 Annonce • May 06
Kosmos Energy Ltd. Provides Production Guidance for the Second Quarter 2025; Provides Production Guidance for Fiscal Year 2025 Kosmos Energy Ltd. provided production guidance for the second quarter 2025; provided production guidance for fiscal year 2025. For the first quarter, the company expects production to be 66,000 boe per day - 72,000 boe per day.
For the year, the company expects production to be 70,000 boe per day - 80,000 boe per day. Annonce • Apr 28
Kosmos Energy Ltd., Annual General Meeting, Jun 05, 2025 Kosmos Energy Ltd., Annual General Meeting, Jun 05, 2025. Annonce • Apr 17
Kosmos Energy Announces First LNG Cargo at the Greater Tortue Ahmeyim Project in Mauritania and Senegal Kosmos Energy notes the announcement from bp plc (operator) that the first cargo of liquified natural gas (LNG) has been safely loaded from the Greater Tortue Ahmeyim (GTA) LNG project, offshore Mauritania & Senegal. The first shipment of LNG was transferred to the "British Sponsor" LNG carrier from Golar LNG's floating liquefied natural gas (FLNG) vessel located approximately 10 kilometers offshore, where the natural gas was liquefied and stored. The first cargo was fully loaded at approximately 174,000 cubic meters of LNG. A second LNG carrier is currently waiting near the hub terminal in preparation for the second cargo lifting. The announcement of the first cargo shipment follows first gas production in late 2024 and first LNG production in February. The first cargo lifting is when Kosmos and its partners start to recognize revenue and is another key milestone for the project. The FLNG vessel has a nameplate capacity of 2.7 million tonnes per annum. Annonce • Apr 07
Kosmos Energy Ltd. to Report Q1, 2025 Results on May 06, 2025 Kosmos Energy Ltd. announced that they will report Q1, 2025 results Pre-Market on May 06, 2025 Annonce • Feb 24
Kosmos Energy Ltd. Provides Production Guidance for the First Quarter 2025; Provides Production Guidance for Fiscal Year 2025 Kosmos Energy Ltd. provided production guidance for the first quarter 2025; provided production guidance for fiscal year 2025. For the first quarter, the company expects production to be 62,000 boe per day - 66,000 boe per day.
For the year, the company expects production to be 70,000 boe per day - 80,000 boe per day. Annonce • Feb 10
Kosmos Energy Announces First LNG At the Greater Tortue Ahmeyim Project in Mauritania and Senegal Kosmos Energy announced that first liquified natural gas (LNG) production has been achieved at the bp-operated Greater Tortue Ahmeyim (GTA) LNG project, offshore Mauritania & Senegal. On December 31, 2024, gas from the first phase of GTA started to flow from wells to the floating production storage and offloading (FPSO) vessel as part of the commissioning process. At the FPSO, gas is being processed to remove any condensate, water and impurities ahead of delivery to the floating LNG vessel for liquefaction. Gas has now been delivered to the floating LNG vessel and liquefaction has commenced. The liquefaction of gas into LNG is when Kosmos starts to recognize gas entitlement production from the project in its quarterly statements. In addition, bp has given notice to the offtaker (bp gas marketing ltd.) for an LNG carrier to arrive later this quarter to export the first LNG cargo. Lifting of the first LNG cargo is when Kosmos starts to recognized revenue and generate cash flow from the project. Annonce • Jan 13
Kosmos Energy Ltd. to Report Q4, 2024 Results on Feb 24, 2025 Kosmos Energy Ltd. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Feb 24, 2025 Annonce • Jan 02
Kosmos Energy Announces First Gas At the Greater Tortue Ahmeyim LNG Project in Mauritania and Senegal Kosmos Energy Ltd. announced from bp plc (operator) that first gas production has been achieved at the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project offshore Mauritania and Senegal. On December 31, 2024, gas from the first phase of GTA started to flow from wells to the floating production storage and offloading (FPSO) vessel ahead of delivery to the floating LNG vessel for liquefaction. Once fully commissioned, GTA Phase 1 is expected to produce around 2.3 million tonnes of LNG per annum (mtpa) with the floating LNG vessel nameplate capacity of approximately 2.7 mtpa. First gas is a key milestone for the partnership and the governments of Mauritania and Senegal and an important step for the countries to become a strategic LNG production hub in West Africa. First LNG production is expected to follow shortly with the first LNG cargo expected in the first quarter of 2025, which is when the company starts to recognize revenue from the project. Annonce • Dec 14
Tullow Oil Confirms it is in Preliminary Discussions with Kosmos Energy The Board of Tullow Oil plc (LSE:TLW) noted the recent media speculation and confirms that it is in preliminary discussions with Kosmos Energy Ltd. (NYSE:KOS) regarding a possible all-share offer by Kosmos for the Company. There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made. A further announcement will be made as and when appropriate. In accordance with Rule 2.6(a) of the Code, Kosmos is required, by not later than 5.00 p.m. (London time) on 9 January 2025, being 28 days after today's date, to either announce a firm intention to make an offer for Tullow in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Tullow, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers (the "Panel") in accordance with Rule 2.6(c) of the Code. For the purpose of Rule 2.5(a) of the Code, this announcement is being made by Tullow without the consent of Kosmos. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.28 per share. Reported Earnings • Nov 04
Third quarter 2024 earnings released: EPS: US$0.095 (vs US$0.18 in 3Q 2023) Third quarter 2024 results: EPS: US$0.095 (down from US$0.18 in 3Q 2023). Revenue: US$407.8m (down 23% from 3Q 2023). Net income: US$45.0m (down 47% from 3Q 2023). Profit margin: 11% (down from 16% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 1.2% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Nov 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risks High level of debt (212% net debt to equity). Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €3.79, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.18 per share. Annonce • Oct 03
Kosmos Energy Ltd. to Report Q3, 2024 Results on Nov 04, 2024 Kosmos Energy Ltd. announced that they will report Q3, 2024 results Pre-Market on Nov 04, 2024 Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €3.80, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 97% over the past three years. Reported Earnings • Aug 06
Second quarter 2024 earnings released: EPS: US$0.13 (vs US$0.051 in 2Q 2023) Second quarter 2024 results: EPS: US$0.13 (up from US$0.051 in 2Q 2023). Revenue: US$450.9m (up 65% from 2Q 2023). Net income: US$59.8m (up 156% from 2Q 2023). Profit margin: 13% (up from 8.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 40% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Annonce • Aug 05
Kosmos Energy Ltd. Provides Production Guidance for the Third Quarter 2024 and Year 2024 Kosmos Energy Ltd. provided production guidance for the third quarter 2024 and year 2024. For the third quarter, the company expects production to be 65,000 boe per day - 69,000 boe per day.
For the year, the company expects production to be 67,000 boe per day - 71,000 boe per day. Annonce • Jul 09
Kosmos Energy Ltd. to Report Q2, 2024 Results on Aug 05, 2024 Kosmos Energy Ltd. announced that they will report Q2, 2024 results Pre-Market on Aug 05, 2024 Annonce • Jul 03
Kosmos Energy Announces First Oil Production At Winterfell in the U.S. Gulf of Mexico Kosmos Energy Ltd. announced the successful start-up of oil production at the Winterfell development in the Green Canyon area of the U.S.Gulf of Mexico. Winterfell (Kosmos 25.04% working interest) is a phased development with the initial two production wells of the first phase now online and ramping up production. A third well is currently being drilled and is expected to be online by the end of the third quarter of 2024. The three initial wells are expected to deliver gross production of approximately 20,000 barrels of oil equivalent per day (boepd). Winterfell is a Miocene-aged field discovered in 2021 in water depth of approximately 5,400 feet (~1,600 meters). The field has been developed via a 13-mile subsea tieback to the host platform. Following the successful drilling and completion of the first two wells and subsea hookup in April 2024, delays in subsequent work resulted in first oil slightly later than initially anticipated. The first phase of the development, with five wells in total, is expected to deliver around 100 million barrels of oil equivalent with upside from subsequent phases. The Winterfell unit consists of Green Canyon blocks 899, 900, 943, 944, 987 and 988 with follow-on opportunities in adjacent blocks where Kosmos also has an interest. The other partners in the Winterfell unit are Beacon Offshore Energy (operator), Westlawn Americas Offshore, Red Willow, Alta Mar Energy, and CSL Exploration. Annonce • May 08
Kosmos Energy Ltd. Provides Production Guidance for the Second Quarter and Full Year of 2024 Kosmos Energy Ltd. provided production guidance for the second quarter and full year of 2024. For the quarter, the company expects production to be in the range of 62,000 boe per day to 66,000 boe per day.For the year, the company expects production to be in the range of 71,000 boe per day to 77,000 boe per day. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: US$0.20 (vs US$0.18 in 1Q 2023) First quarter 2024 results: EPS: US$0.20 (up from US$0.18 in 1Q 2023). Revenue: US$419.1m (up 6.4% from 1Q 2023). Net income: US$91.7m (up 10% from 1Q 2023). Profit margin: 22% (in line with 1Q 2023). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Annonce • Apr 28
Kosmos Energy Ltd., Annual General Meeting, Jun 06, 2024 Kosmos Energy Ltd., Annual General Meeting, Jun 06, 2024, at 08:00 Eastern Daylight. Agenda: To elect three Class II directors to a three-year term to serve until the 2027 annual stockholders meeting; to ratify the appointment of Ernst &Young LLP as an independent registered public accounting firm for the fiscal year ending December 31, 2024 and to authorize the Company’s Audit Committee of the Board of Directors to determine their remuneration; to provide a non-binding, advisory vote to approve named executive officer compensation; and to consider other matters. Annonce • Apr 11
Kosmos Energy Ltd. to Report Q1, 2024 Results on May 07, 2024 Kosmos Energy Ltd. announced that they will report Q1, 2024 results Pre-Market on May 07, 2024 New Risk • Apr 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (222% net debt to equity). Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Significant insider selling over the past 3 months (€10m sold). Annonce • Feb 29
Kosmos Energy Ltd. Reports Impairment for the Fourth Quarter Ended December 31, 2023 Kosmos Energy Ltd. reported impairment for the fourth quarter ended December 31, 2023. For the quarter, the company reported impairment of long-lived assets of $222,278,000. New Risk • Feb 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (222% net debt to equity). Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Significant insider selling over the past 3 months (€10m sold). Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: US$0.47 (vs US$0.50 in FY 2022) Full year 2023 results: EPS: US$0.47 (down from US$0.50 in FY 2022). Revenue: US$1.70b (down 24% from FY 2022). Net income: US$213.5m (down 5.8% from FY 2022). Profit margin: 13% (up from 10% in FY 2022). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 05
Chairman & CEO recently sold €1.9m worth of stock On the 2nd of February, Andrew Inglis sold around 338k shares on-market at roughly €5.50 per share. This transaction amounted to 9.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Andrew's only on-market trade for the last 12 months. Annonce • Jan 18
Kosmos Energy Ltd. to Report Q4, 2023 Results on Feb 26, 2024 Kosmos Energy Ltd. announced that they will report Q4, 2023 results Pre-Market on Feb 26, 2024 Annonce • Nov 08
Kosmos Energy Ltd. Provides Production Guidance for the Fourth Quarter and Full Year of 2023 Kosmos Energy Ltd. provided production guidance for the fourth quarter and full year of 2023. For the quarter, the company expects production guidance 66,000 boe per day - 69,000 boe per day.For the year, the company expects production guidance of ~63,000 boe per day. New Risk • Nov 07
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.5% net profit margin). Reported Earnings • Nov 07
Third quarter 2023 earnings released: EPS: US$0.18 (vs US$0.49 in 3Q 2022) Third quarter 2023 results: EPS: US$0.18 (down from US$0.49 in 3Q 2022). Revenue: US$526.5m (up 15% from 3Q 2022). Net income: US$85.2m (down 62% from 3Q 2022). Profit margin: 16% (down from 49% in 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 97% per year, which means it is significantly lagging earnings growth. Annonce • Oct 11
Kosmos Energy Announces Oil Discovery in the U.S. Gulf of Mexico at the Tiberius Exploration Well Kosmos Energy announced an oil discovery in the U.S. Gulf of Mexico at the Tiberius exploration well. Kosmos is operator of the well and has a 33.34% working interest alongside Occidental and Equinor ASA (both 33.33%). The Tiberius exploration well tested a four-way structural trap in the outboard Wilcox trend, located in Keathley Canyon Block 964. The well encountered approximately 250 feet (75 meters) of net oil pay in the primary Wilcox target. Wireline logging has been completed and casing is currently being run to the target depth to enable the well to be used as a future oil producer. The Tiberius well is located in approximately 7,500 feet (2,300 meters) of water and was drilled to a total vertical depth of approximately 25,800 feet (7,800 meters). Kosmos will now undertake rock and fluid analysis to confirm the production potential of the reservoir and will work with partners on subsea development options. The discovery is located approximately 6 miles southeast of the Occidental-operated Lucius SPAR production facility, enabling a short tie-back in the event of a development. New Risk • Oct 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (253% net debt to equity). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Annonce • Oct 07
Kosmos Energy Ltd. to Report Q3, 2023 Results on Nov 06, 2023 Kosmos Energy Ltd. announced that they will report Q3, 2023 results Pre-Market on Nov 06, 2023 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €7.77, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Oil and Gas industry in Europe. Total returns to shareholders of 865% over the past three years. New Risk • Aug 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (253% net debt to equity). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€747k sold). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: US$0.051 (vs US$0.26 in 2Q 2022) Second quarter 2023 results: EPS: US$0.051 (down from US$0.26 in 2Q 2022). Revenue: US$273.3m (down 56% from 2Q 2022). Net income: US$23.3m (down 80% from 2Q 2022). Profit margin: 8.5% (down from 19% in 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Annonce • Jul 21
Kosmos Energy Ltd. Announces Retirement of Richard R. Clark, Senior Vice President and Head of Gulf of Mexico Business Unit On July 12, 2023, Richard R. Clark, the current Senior Vice President and Head of Gulf of Mexico Business Unit for Kosmos Energy Ltd. (the "Company"), informed the Company of his decision to retire at the end of January 2024. Mr. Clark will continue to serve in his current role and assist with the orderly transition of his duties to his appointed successor until his retirement date. Annonce • Jul 14
Kosmos Energy Ltd. Announces Start Up of the Jubilee South East Project Kosmos Energy Ltd. alongside its joint venture partners Tullow Oil plc (operator), Ghana National Petroleum Corporation and Petro SA announces the successful start-up of the Jubilee South East (JSE) project, offshore Ghana. The first JSE production well has been brought onstream with a second JSE production well expected onstream this month. These two wells are expected to take Jubilee production to over 100,000 bopd gross. An additional production well and water injection well are expected online later this year, which should further enhance production. The partnership plans to maintain this increased level of production at Jubilee over the next few years through an ongoing infill drilling program. The partnership has identified multiple future drilling locations and is focused on high-grading these opportunities to further extend the plateau and realize the full potential of the significant Jubilee resource base. As the operator notes in its press release, the partnership has invested c. $1 billion over the last three years on the JSE project to drill wells and install the infrastructure needed to bring previously undeveloped reserves to production. The project has advanced the use of local suppliers and the majority of the complex offshore infrastructure has been fabricated by local companies in Ghana with more than 90% local workforce. This demonstrates the evolution of the Ghanaian supplier base that can now support substantial elements of its oil and gas industry and is testament to the partnership’s commitment to developing local capacity. Annonce • Jul 06
Kosmos Energy Ltd. to Report Q2, 2023 Results on Aug 07, 2023 Kosmos Energy Ltd. announced that they will report Q2, 2023 results Pre-Market on Aug 07, 2023 Recent Insider Transactions • Jun 14
Independent Director recently sold €697k worth of stock On the 9th of June, Deanna L. Goodwin sold around 112k shares on-market at roughly €6.22 per share. This transaction amounted to 60% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €6.8m more than they bought in the last 12 months. Reported Earnings • May 09
First quarter 2023 earnings released: EPS: US$0.18 (vs US$0.003 in 1Q 2022) First quarter 2023 results: EPS: US$0.18 (up from US$0.003 in 1Q 2022). Revenue: US$393.9m (down 40% from 1Q 2022). Net income: US$83.3m (up US$81.9m from 1Q 2022). Profit margin: 21% (up from 0.2% in 1Q 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Annonce • May 09
Kosmos Energy Ltd. Provides Production Guidance for the Second Quarter and Full Year of 2023 Kosmos Energy Ltd. provided production guidance for the second quarter and full year of 2023. For the quarter, the company expects production to be in the range of 57,000 boe per day to 61,000 boe per day.For the year, the company expects production to be in the range of 65,000 boe per day to 69,000 boe per day. Board Change • Apr 28
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Steven Sterin was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €7.09, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 701% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €6.12, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 767% over the past three years. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: US$0.50 (vs US$0.19 loss in FY 2021) Full year 2022 results: EPS: US$0.50 (up from US$0.19 loss in FY 2021). Revenue: US$2.25b (up 69% from FY 2021). Net income: US$226.6m (up US$304.4m from FY 2021). Profit margin: 10% (up from net loss in FY 2021). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Annonce • Jan 27
Kosmos Energy Ltd. to Report Q4, 2022 Results on Feb 27, 2023 Kosmos Energy Ltd. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 27, 2023 Buying Opportunity • Jan 20
Now 24% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be €9.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings is also forecast to grow by 3.2% per annum over the same time period. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 15% share price gain to €7.50, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.04 per share. Recent Insider Transactions • Nov 16
Independent Director recently sold €962k worth of stock On the 10th of November, Richard Dearlove sold around 147k shares on-market at roughly €6.54 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.1m more than they bought in the last 12 months. Recent Insider Transactions • Nov 12
Independent Director recently sold €962k worth of stock On the 10th of November, Richard Dearlove sold around 147k shares on-market at roughly €6.54 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.1m more than they bought in the last 12 months. Reported Earnings • Nov 08
Third quarter 2022 earnings released: EPS: US$0.49 (vs US$0.07 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.49 (up from US$0.07 loss in 3Q 2021). Revenue: US$456.1m (up 129% from 3Q 2021). Net income: US$222.3m (up US$250.9m from 3Q 2021). Profit margin: 49% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.6% decline forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • Oct 18
Kosmos Energy Ltd. to Report Q3, 2022 Results on Nov 07, 2022 Kosmos Energy Ltd. announced that they will report Q3, 2022 results Pre-Market on Nov 07, 2022 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 21% share price decline to €4.77, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Oil and Gas industry in Europe. Total loss to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.93 per share. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 16% share price gain to €6.79, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 33% over the past three years. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: US$0.26 (vs US$0.14 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.26 (up from US$0.14 loss in 2Q 2021). Revenue: US$620.4m (up 62% from 2Q 2021). Net income: US$117.2m (up US$174.4m from 2Q 2021). Profit margin: 19% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 17%, compared to a 32% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annonce • Aug 08
Kosmos Energy Ltd. Provides Production Guidance for the Third Quarter and Fiscal Year 2022 Kosmos Energy Ltd. provides production guidance for the third quarter and fiscal year 2022. For the third quarter, the company expects production of 60,000 - 63,000 boe per day.For fiscal year 2022, the company expects production of 63,000 - 67,000 boe per day. Annonce • Jul 21
Kosmos Energy Ltd. to Report Q2, 2022 Results on Aug 08, 2022 Kosmos Energy Ltd. announced that they will report Q2, 2022 results Pre-Market on Aug 08, 2022 Recent Insider Transactions • Jun 15
Director recently sold €141k worth of stock On the 13th of June, Roy Franklin sold around 21k shares on-market at roughly €6.81 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • May 10
First quarter 2022 earnings released: EPS: US$0.003 (vs US$0.22 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.003 (up from US$0.22 loss in 1Q 2021). Revenue: US$659.1m (up 273% from 1Q 2021). Net income: US$1.40m (up US$92.2m from 1Q 2021). Profit margin: 0.2% (up from net loss in 1Q 2021). Over the next year, revenue is forecast to grow 23%, compared to a 66% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • May 10
Kosmos Energy Ltd. Provides Production Guidance for the Second Quarter and Full Year 2022 Kosmos Energy Ltd. provided production guidance for the second quarter and full year 2022. For the quarter, the company expects Production of 60,000 - 63,000 boe per day.For the year, the company expects Production of 63,000 - 67,000 boe per day. Annonce • Apr 26
Kosmos Energy Ltd. to Report Q1, 2022 Results on May 09, 2022 Kosmos Energy Ltd. announced that they will report Q1, 2022 results Pre-Market on May 09, 2022 Buying Opportunity • Mar 29
Now 22% undervalued Over the last 90 days, the stock is up 96%. The fair value is estimated to be US$7.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.4% per annum over the last 3 years. Earnings per share has declined by 38% per annum over the last 3 years. Reported Earnings • Mar 01
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$0.19 loss per share (up from US$1.02 loss in FY 2020). Revenue: US$0 (down 100% from FY 2020). Net loss: US$77.8m (loss narrowed 81% from FY 2020). Profit margin: (up from net loss in FY 2020). Revenue exceeded analyst estimates by 2.5%. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Breakeven Date Change • Mar 01
Forecast breakeven date pushed back to 2024 The 2 analysts covering Kosmos Energy previously expected the company to break even in 2022. New consensus forecast suggests the company will make a profit of US$137.5m in 2024. Average annual earnings growth of 53% is required to achieve expected profit on schedule. Annonce • Mar 01
Kosmos Energy Ltd. Provides Production Guidance for the First Quarter and Full Year of 2022 Kosmos Energy Ltd. provided production guidance for the first quarter and full year of 2022. For the first quarter, the company expects production to be in the range of 70,000 to 73,000 boe per day.For the full year, the company expects production to be in the range of 67,000 to 71,000 boe per day. Annonce • Feb 08
Kosmos Energy Ltd. to Report Q4, 2021 Results on Feb 08, 2022 Kosmos Energy Ltd. announced that they will report Q4, 2021 results Pre-Market on Feb 08, 2022 Annonce • Jan 19
Kosmos Energy Announces Completion of the Drilling of the Winterfell-2 Appraisal Well on Block 943 in the Green Canyon Area of the U.S. Gulf of Mexico Kosmos Energy announced completion of the drilling of the Winterfell-2 appraisal well on Block 943 in the Green Canyon area of the U.S. Gulf of Mexico. The Winterfell-2 well (Kosmos working interest 16.4%), was drilled to evaluate the adjacent fault block to the northwest of the original Winterfell discovery and was designed to test two horizons that were oil bearing in the Winterfell-1 well, with an exploration tail into a deeper horizon. The well discovered approximately 40 meters (120 feet) of net oil pay in the first and second horizons with better oil saturation and porosity than pre-drill expectations. The exploration tail has discovered an additional oil-bearing horizon in a deeper reservoir which is also prospective in the blocks immediately to the north. The results of this appraisal well further define the resource potential in the central Winterfell area, with the current estimate around 100 million barrels gross. Separately, Kosmos has farmed down an interest in the two blocks immediately to the north of the Winterfell discovery to the owners of the central Winterfell discovery in exchange for cash consideration and the retention of an overriding royalty interest. This aligns the partnership and provides the ability to further scale the development with low-risk follow-on drilling. Kosmos will retain a 35% working interest in the two blocks, which have been significantly de-risked following the results of the Winterfell-1 and Winterfell-2 wells. The Winterfell complex is located within tie back distance to several existing and planned host facilities and the partnership is working to define the development plan. The Winterfell-2 well is located in approximately 1,600 meters (5,800 feet) of water and was drilled to a total depth of approximately 8,700 meters (28,500 feet). An affiliate of Beacon Offshore Energy LLC is operator of the Winterfell-2 well. Additional interest owners include Red Willow Offshore LLC, Ridgewood Monarch North LLC, CSL Exploration, LP, CL&F Offshore LLC, Houston Energy, L.P., Beacon Offshore Energy Exploration LLC, and Beacon Asset Holdings LLC. Reported Earnings • Nov 09
Third quarter 2021 earnings released: US$0.07 loss per share (vs US$0.092 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: US$199.0m (down 12% from 3Q 2020). Net loss: US$28.6m (loss narrowed 24% from 3Q 2020). Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 6 analysts covering Kosmos Energy expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$122.3m in 2022. Average annual earnings growth of 44% is required to achieve expected profit on schedule. Reported Earnings • Aug 10
Second quarter 2021 earnings released: US$0.14 loss per share (vs US$0.49 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$384.1m (up 202% from 2Q 2020). Net loss: US$57.2m (loss narrowed 71% from 2Q 2020). Breakeven Date Change • Aug 09
Forecast breakeven moved forward to 2021 The 6 analysts covering Kosmos Energy previously expected the company to break even in 2022. New consensus forecast suggests the company will make a profit of US$29.5m in 2021. Earnings growth of 27% is required to achieve expected profit on schedule. 
