Mon, Feb 24, 5:59 PM (64 days ago)
Kosmos Energy Ltd. (KOS) reported strong financial performance for the fiscal year ending December 31, 2024, with revenues of $1,675,358,000, slightly down from $1,701,608,000 in 2023. Net income was $189,851,000, compared to $213,520,000 in the previous year, reflecting increased production costs and lower average realized oil prices. The company’s operating expenses rose significantly to $1,325,750,000, influenced by pre-production costs associated with the Greater Tortue Ahmeyim project and exploration expenses. Kosmos aims to enhance production through infill drilling and infrastructure-led exploration while focusing on sustainability and reducing carbon intensity. The future outlook includes continued development of the Jubilee Field and the Greater Tortue Ahmeyim project, with first LNG production achieved in February 2025. However, risks include fluctuations in commodity prices, geopolitical instability, and regulatory changes affecting operations in West Africa and the Gulf of Mexico. As of December 31, 2024, Kosmos maintained a strong liquidity position with approximately $534,972,000 in available cash and undrawn credit. The company’s strategic focus remains on optimizing its asset portfolio and ensuring financial discipline amid market volatility.