kosmos energy ltd (KOS) Key Developments
Kosmos Energy Ltd. Provides Capex Guidance for the Full Year of 2015
May 4 15
Kosmos Energy Ltd. announced that full-year 2015 guidance remains unchanged, including capex budget of $800 million.
Kosmos Energy Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 4 15
Kosmos Energy reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net loss of $78.9 million or $0.21 per diluted share compared to net income of $75 million or $0.19 per diluted share a year ago. Adjusting for the impact of realized and unrealized commodity derivatives, the company generated a net loss of $66.6 million or $0.18 per diluted share. Total revenues were $132.6 million, down from $237.1 million reported for the same period last year. Oil and gas revenue was $109,164,000 against $212,853,000 a year ago. Loss before income taxes was $53,210,000 against income before income taxes of $125,752,000 a year ago. Net cash used in operating activities was $8,980,000 against net cash provided by operating activities of $113,586,000 a year ago. Additions to oil and gas assets were $184,899,000 against $96,486,000 a year ago. EBITDAX was $114,892,000 against $186,151,000 a year ago. Total capital expenditures were $167.8 million. Bet debt as at March 31, 2015 was $407.4 million compared to net debt as of December 31, 2014 of $213.1 million. The increase in net debt since year-end 2014 is primarily driven by timing of changes in working capital.
Kosmos Energy Ltd. Makes Significant Gas Discovery Offshore Mauritania
Apr 27 15
Kosmos Energy Ltd. announced that the Tortue-1 exploration well, drilled to test the Tortue West prospect, which forms part of the Greater Tortue Complex, in Block C-8 offshore Mauritania has made a significant, play-opening gas discovery. Based on the preliminary analysis of drilling results and intermediate logging to a depth of 4,630 meters, Tortue-1 has intersected 107 meters (351 feet) of net hydrocarbon pay. A single gas pool was encountered in the primary Lower Cenomanian objective. The Lower Cenomanian is comprised of three excellent quality multi-Darcy reservoirs totaling 88 meters (288 feet) in thickness over a gross hydrocarbon bearing interval of 160 meters (528 feet). A fourth zone 19 meters (62 feet) thick was penetrated within the secondary Upper Cenomanian target over a gross hydrocarbon bearing interval of 150 meters (492 feet). An appraisal program is being planned to delineate the Tortue West discovery. In addition, the Marsouin-1 exploration well, located in the central part of Block C-8, is expected to spud in the third quarter of 2015. An exploration program is also being formulated to test the other prospects in the Greater Tortue Complex, which extends into the St. Louis Offshore Profond Block in Senegal, including the Tortue East and Tortue North prospects.
Kosmos Energy Ltd. Intends to Offer Additional $225 Million Aggregate Principal Amount of Senior Secured Notes Due 2021
Apr 7 15
Kosmos Energy Ltd. announced that, subject to market conditions, it intends to offer an additional $225 million aggregate principal amount of senior secured notes due 2021 in a private offering to eligible purchasers as a non-fungible add-on to the existing $300 million aggregate principal amount of such notes currently outstanding (the existing notes). The notes will have identical terms as the existing notes, other than the date of issue, the initial price, the first interest payment date and the first date from which interest will accrue. The company intends to use the net proceeds from this offering to repay a portion of the outstanding indebtedness under its commercial debt facility and for general corporate purposes.
Kosmos Energy Ltd. to Report Q1, 2015 Results on May 04, 2015
Apr 6 15
Kosmos Energy Ltd. announced that they will report Q1, 2015 results at 9:00 AM, SA Western Standard Time on May 04, 2015