Kosmos Energy Reports Improved Production and Cost Efficiency in Q2
Kosmos Energy reported a strong second-quarter performance, with production up approximately 12% year over year due to new wells at the Jubilee field in Ghana and ramp-up of its Greater Tortue Ahmeyim (GTA) LNG project. First-half production rose by 18%, while absolute operating costs fell 24%. The company also repaid $420 million in debt, leaving it with over $500 million in liquidity. The Jubilee field is expected to exceed 90,000 barrels per day once the J50 well comes online. Kosmos maintained its full-year guidance for Jubilee production and highlighted that new wells like J76 have identified additional resource potential within the core of the field. The GTA project delivered nine LNG cargoes in Q2, bringing first-half totals to 18.5, meeting annual expectations. Kosmos is advancing growth projects including its Tiberius farm-down with a target for first oil by late 2028 and plans to amend its reserve-based lending facility later this year.
Tickers: $KOS
Topics: capital_spending debt_reduction energy oil_and_gas_production