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Last $6.86 USD
Change Today +0.26 / 3.94%
Volume 1.7M
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

kosmos energy ltd (KOS) Key Developments

Kosmos Energy Ltd. Announces Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Capital Expenditure Guidance for the Full Year 2015

Kosmos Energy Ltd. announced unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2015. For the quarter, the company announced total revenues and other income of $121,813,000 compared to $329,166,000 for the same period a year ago. Loss before income taxes was $49,802,000 compared to income before income taxes of $137,291,000 for the same period a year ago. Net loss was $75,192,000 or $0.20 per basic and diluted share compared to net income of $56,507,000 or $0.15 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $92,433,000 compared to $172,475,000 for the same period a year ago. Investment in oil and gas assets was $199,295,000 compared to $89,977,000 for the same period a year ago. Investment in other property was $256,000 compared to $486,000 for the same period a year ago. EBITDAX was $119,791,000 compared to $291,595,000 for the same period a year ago. For the six months, the company announced total revenues and other income of $254,370,000 compared to $566,227,000 for the same period a year ago. Loss before income taxes was $103,012,000 compared to income before taxes of $263,043,000 for the same period a year ago. Net loss was $154,101,000 or $0.40 per basic and diluted share compared to net income of $131,476,000 or $0.34 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $83,453,000 compared to $286,061,000 for the same period a year ago. Investment in oil and gas assets was $384,194,000 compared to $186,463,000 for the same period a year ago. Investment in other property was $536,000 compared to $914,000 for the same period a year ago. EBITDAX was $234,683,000 compared to $477,746,000 for the same period a year ago. For the quarter, the company announced net oil volume sold was 1.946 million of barrels compared to 2.916 million of barrels for the same period a year ago. For the six months, the company announced net oil volume sold was 3.845 million of barrels compared to 4.853 million of barrels for the same period a year ago. For the full year 2015, the company's CapEx forecast remains at $800 million, and being disciplined about managing to that budget.

Kosmos Energy Ltd. to Report Q2, 2015 Results on Aug 03, 2015

Kosmos Energy Ltd. announced that they will report Q2, 2015 results at 9:00 AM, SA Western Standard Time on Aug 03, 2015

Kosmos Energy Ltd., Q2 2015 Earnings Call, Aug 03, 2015

Kosmos Energy Ltd., Q2 2015 Earnings Call, Aug 03, 2015

Kosmos Energy Ltd. Announces Amendment and Restatement of Corporate Revolving Credit Facility

Kosmos Energy Ltd. announced an amendment and restatement of its corporate revolving credit facility. Three significant changes have been made: borrowing capacity has been increased to $400 million, up from $300 million, date of maturity has been extended by three years to November 2018, and Commitment fees have been lowered to 30% of the margin. Combined with its $1.5 billion reserves-based lending facility, Kosmos now has secured debt facilities totaling $1.9 billion, of which only $300 million was drawn as of June 1, 2015.

Kosmos Energy Provides Update on Mauritania Drilling

Kosmos Energy announced that the Tortue-1 exploration well in Block C8 offshore Mauritania has encountered additional hydrocarbons while drilling to total depth to evaluate the deeper Albian stratigraphy. Based on the preliminary analysis of drilling results, Tortue-1 has intersected approximately 10 meters (32 feet) of net hydrocarbon pay in the lower Albian section, which is currently interpreted to be gas. This is in addition to the previously announced 107 meters (351 feet) of net pay encountered in the Cenomanian, which was the primary objective. The well was drilled beyond the primary objective to obtain deeper stratigraphic information and enable seismic calibration of the Albian, which will be tested in subsequent wells. Down to total depth drilled, no water was encountered in the well. Located approximately 285 kilometers southwest of Nouakchott in 2,700 meters of water, and drilled with the Atwood Achiever drillship, the Tortue-1 well was drilled at a total cost of approximately $125 million to a total depth of approximately 5,100 meters. The Tortue discovery area has also been renamed Ahmeyim.

 

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KOS

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Valuation KOS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 4.8x
Price/Book 2.2x
Price/Cash Flow 17.7x
TEV/Sales 2.9x
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