$KOS

Kosmos Energy Ltd. (KOS) shares declined 1.05% to $2.84 on Thursday, while major indices rose. This marks the second straight day of losses for the stock.

Kosmos Energy (KOS) shares rose 4.3% to $3.05 after oil prices topped $103 per barrel due to Middle East supply disruptions, benefiting energy producers' margins. The stock is up 241% year-to-date and near its 52-week high. Kosmos Energy's shares are highly volatile, with significant price swings over the past year.

Kosmos Energy reported Q2 net production of 71,400 boed, up 12% YoY, driven by Jubilee wells and GTA LNG project. Revenue was $607M, net income $185M, and free cash flow $89M. Net debt declined by over $400M in H1 2026. Jubilee production exceeded 90,000 bpd after new wells. GTA Phase 1 averaged 2.65 MMtpa LNG. Kosmos completed a farm-down of the Tiberius project and expects Shell to drill the Trailblazer prospect in early 2027.

Senegal's new prime minister stated that $55 million in obligations tied to the Yaakaar-Teranga gas license were unexecuted, revisiting Kosmos Energy's April exit. The figure, based on 30 billion CFA francs, suggests potential financial discrepancies. Kosmos, which held 90% of the license, exited without financial consideration, per the previous government. The IMF approved a $2.2 billion loan for Senegal, pending final approval, as the country seeks debt restructuring.

Kosmos Energy (KOS) held its Q2 2026 earnings call. Management said net debt fell 15% vs year-end 2025 after about $420 million of paydown via free cash flow, an equity raise, and Equatorial Guinea asset sale. Jubilee guidance is 70,000 to 80,000 bpd, with 90,000 bpd expected after J50 startup. Liquidity was $500 million and leverage targeted at 2.0x by year-end 2026.

Subsea Cable Assets (SCA) said it won its first contract with Kosmos Energy to supply an onshore umbilical storage carousel for a project in Mobile, Alabama. SCA will engineer, manufacture and deliver a newly designed 1,000-ton carousel, with delivery set for Q4 2026, to support quayside storage and handling before offshore deployment.

Kosmos Energy said its Jubilee field in Ghana is ramping after well J76 started in mid-June, producing about 20,000 bopd gross. Jubilee averaged ~72,000 bopd in Q2 and exited above 85,000 bopd; well J77 should lift output to ~90,000 bopd. Kosmos also cited strong GTA LNG cargoes, asset sales to Panoro, and reduced net debt to ~$2.56B.

Kosmos Energy reported an 18% year-on-year production increase in the first half, citing Jubilee ramp-up in Ghana and steady GTA delivery. The company plans a 35% OpEx per barrel reduction for 2026 via exiting high-cost Equatorial Guinea barrels and repurchasing the TEN FPSO. It aims to cut net debt 20% by year-end 2026 and expects Jubilee drilling in mid-2027.

Hotchkis & Wiley’s Q2 2026 investor letter for the Hotchkis & Wiley Mid-Cap Value Fund says the fund returned 4.74% in Q2, lagging the Russell Midcap Value Index. It attributes weakness mainly to technology and energy underperformance, highlighting Kosmos Energy (NYSE:KOS), whose shares fell in Q2 due to crude oil price weakness. KOS closed Aug 3 at $2.53.

Kosmos Energy reported Q2 net production of about 71,400 boed, up 12% y/y, helped by Jubilee wells and ramp-up of the Greater Tortue Ahmeyim (GTA) LNG project. Net income was $185m, adjusted net income $68m, revenue $607m, operating cash flow ~$175m and free cash flow $89m. Jubilee oil averaged ~72,000 bpd; GTA Phase 1 averaged ~2.65 MMtpa. Full-year capex stayed at $350m and debt reduction target is ~20% in 2026.