Kosmos Energy (KOS) Company Report

Kosmos Energy reported net production of ~65,500 boepd for Q3 2025, an increase from the previous quarter, with ~7 gross LNG cargos lifted from GTA during the period.
The company significantly reduced its operating costs, with Q3 2025 opex at ~$19.5/boe, representing a 39% quarter-over-quarter reduction, and general and administrative expenses falling to $13 million.
Capital expenditures for Q3 2025 were $67 million, keeping the company on track to achieve its full-year 2025 capex target of less than $350 million, which is a year-on-year reduction of approximately $500 million.
Kosmos Energy strengthened its balance sheet by completing a $250 million Gulf of America term loan and repaying $150 million of 2026 notes.
The company has 8.5 million barrels of oil production hedged for 2026 with a floor of ~$66/barrel.

Nov 3, 2025, 4:00 PM

Kosmos Energy Reports Strong Q3 2025 Production Growth and Balance Sheet Strengthening

KOS

Earnings

Guidance Update

Debt Issuance

Production reached near record highs in Q3 2025, with Jubilee gross oil production up 13% quarter-on-quarter to 62,500 barrels of oil per day and GTA net production increasing 60% from the previous quarter to 11,400 barrels of oil equivalent per day. The company targets increasing GTA production to its nameplate capacity of 2.7 million tons per annum by year-end.
Capital expenditures are expected to be below the $350 million forecast for the year, with Q3 CapEx at $67 million and year-to-date CapEx just under $240 million. Operating costs decreased almost 40% quarter-on-quarter, with GTA unit costs projected to fall by over 50% next year.
Kosmos enhanced its balance sheet resilience by securing a $250 million term loan from Shell, using $150 million to repay 2026 bond maturities in Q4 2025, with the remaining $100 million to be used in Q1 2026.
To mitigate commodity price volatility, the company has hedged 2.5 million barrels of oil for the remainder of 2025 with a $62 per barrel floor and $77 per barrel ceiling, and 8.5 million barrels for 2026 with a $66 per barrel floor and $73 per barrel ceiling.

Nov 3, 2025, 4:00 PM

Kosmos Energy Announces Third Quarter 2025 Results

KOS

Earnings

Guidance Update

Debt Issuance

Kosmos Energy reported a net loss of $124 million ($0.26 per diluted share) and an adjusted net loss of $72 million ($0.15 per diluted share) for the third quarter of 2025, on revenues of $311 million.
Net production averaged approximately 65,500 barrels of oil equivalent per day (boepd), up 3% versus the second quarter of 2025, with production expenses decreasing 39% to $148 million.
Capital expenditures for Q3 2025 were $67 million, and the company now expects full-year 2025 capital expenditures to be below $350 million.
The company secured a senior secured term loan with Shell for up to $250 million, with $150 million used to partially redeem 2026 unsecured notes, and exited Q3 2025 with approximately $2.9 billion of net debt and $540 million in liquidity.

Nov 3, 2025, 11:42 AM

Kosmos Energy Ltd. Secures New Term Loan and Announces Senior Note Redemption

KOS

Debt Issuance

On September 24, 2025, Kosmos Energy Ltd.'s subsidiary, Kosmos Energy Gulf of Mexico Operations, LLC, entered into a Senior Secured Term Loan Credit Agreement.
The Term Loan Facility includes a $150,000,000 4-year term loan to be funded on October 1, 2025, and an additional $100,000,000 available until April 1, 2026.
The proceeds are intended to fund the redemption or repayment of the Company's outstanding 7.125% senior notes due 2026.
A conditional notice of partial redemption for $150,000,000 principal amount of these senior notes was issued on September 25, 2025, with redemption scheduled for October 6, 2025.

Sep 30, 2025, 9:14 PM

Earnings Transcripts

Quarterly earnings call transcripts for Kosmos Energy.

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