Last $7.90 USD
Change Today -1.08 / -12.03%
Volume 3.9M
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As of 3:25 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

kosmos energy ltd (KOS) Key Developments

Kosmos Energy Provides Update on 2015 Exploration Drilling Program

Kosmos Energy announced that the CB-1 exploration well located in the Cap Boujdour permit area offshore Western Sahara encountered hydrocarbons. The well penetrated approximately 14 meters of net gas and condensate pay in clastic reservoirs over a gross hydrocarbon bearing interval of approximately 500 meters. The discovery is non-commercial, and the well will be plugged and abandoned. Located approximately 170 kilometers offshore in 2,135 meters of water, the CB-1 well was drilled on plan to a total depth of 5,700 meters at a net cost to Kosmos of approximately $85 million. Kosmos has held rights to conduct exploration activities in the Cap Boujdour permit area since 2006 under a petroleum agreement with the Government of Morocco's Office National des Hydrocarbures et des Mines.

Kosmos Energy Ltd. Announces Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Capital Expenditure Guidance for 2015

Kosmos Energy Ltd. announced unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total revenues and other income of $178,144,000 compared to $214,797,000 a year ago. Income before income taxes was $257,634,000 compared to $46,596,000 a year ago. Net income was $128,771,000 or $0.33 per diluted share compared to $4,166,000 or $0.01 per diluted share a year ago. Net cash provided by operating activities was $71,352,000 compared to $241,055,000 a year ago. Investment in oil and gas assets was $134,317,000 compared to $72,961,000 a year ago. Investment in other property was $980,000 compared to $1,258,000 a year ago. EBITDAX was $128,810,000 compared to $170,209,000 a year ago. For the year, the company reported total revenues and other income of $882,738,000 compared to $852,153,000 a year ago. Income before income taxes was $578,268,000 compared to $75,954,000 a year ago. Net income was $279,370,000 or $0.72 per diluted share compared to net loss of $91,044,000 or $0.24 per diluted share a year ago. Net cash provided by operating activities was $443,586,000 compared to $522,404,000 a year ago. Investment in oil and gas assets was $424,535,000 compared to $317,413,000 a year ago. Investment in other property was $2,383,000 compared to $4,970,000 a year ago. EBITDAX was $723,053,000 compared to $657,206,000 a year ago. Excluding the impact of unrealized commodity derivatives, the company generated net income of $114 million or $0.29 per diluted share for the full year 2014. The company exited 2014 with $1.9 billion of liquidity and $213 million of net debt compared to $1.2 billion of liquidity and $249 million of net debt as of year-end 2013. In the fourth quarter of 2014, Jubilee field gross production averaged nearly 100,000 bopd. For the full year of 2014, Jubilee field production averaged approximately 102,000 bopd. The company expects total 2015 capital expenditures to be approximately $800 million with approximately $500 million to be spent in Ghana, primarily related to development activity in Jubilee and TEN. This is an increase from 2014 levels as a result of increased activity at TEN.

Kosmos Energy Ltd. to Report Q4, 2014 Results on Feb 23, 2015

Kosmos Energy Ltd. announced that they will report Q4, 2014 results at 9:00 AM, SA Western Standard Time on Feb 23, 2015

Kosmos Energy Ltd., Q4 2014 Earnings Call, Feb 23, 2015

Kosmos Energy Ltd., Q4 2014 Earnings Call, Feb 23, 2015

Kosmos Energy Ltd. Presents at Credit Suisse Energy Summit 2015, Feb-25-2015 08:05 AM

Kosmos Energy Ltd. Presents at Credit Suisse Energy Summit 2015, Feb-25-2015 08:05 AM. Venue: Vail Cascade Resort & Spa, 1300 Westhaven Drive, Vail, Colorado, United States. Speakers: Andrew G. Inglis, Chairman, Chief Executive Officer, Member of Nominating & Corporate Governance Committee, Member of Health, Safety, Environmental & Security Committee and Member of Exploration Assurance Committee.

 

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