Kosmos Energy Files Q3 2024 10-Q

TL;DR

Kosmos Energy's Q3 2024 10-Q is in. Check financials and operations.

AI Summary

Kosmos Energy Ltd. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year, detailing financial performance and operational activities. Specific financial figures and operational highlights for this period are presented within the report.

Why It Matters

This filing provides investors with a detailed look at Kosmos Energy's financial health and operational progress during the third quarter of 2024, crucial for understanding the company's performance in the oil and gas sector.

Risk Assessment

Risk Level: medium — As an oil and gas company, Kosmos Energy is subject to inherent commodity price volatility and geopolitical risks, which can significantly impact financial performance.

Key Players & Entities

• Kosmos Energy Ltd. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-11-04 (date) — Filing date of the report

FAQ

Key Financial Figures

• $0.01 — ange on which registered: Common Stock $0.01 par value KOS New York Stock Exchange

Filing Documents

• kos-20240930.htm (10-Q) — 1968KB
• ex101-jdoughtyexitagreement.htm (EX-10.1) — 181KB
• kos-9302024xex311.htm (EX-31.1) — 11KB
• kos-9302024xex312.htm (EX-31.2) — 11KB
• kos-9302024xex321.htm (EX-32.1) — 6KB
• kos-9302024xex322.htm (EX-32.2) — 6KB
• kos-20240930_g1.jpg (GRAPHIC) — 23KB
• 0001509991-24-000087.txt ( ) — 10172KB
• kos-20240930.xsd (EX-101.SCH) — 62KB
• kos-20240930_cal.xml (EX-101.CAL) — 79KB
• kos-20240930_def.xml (EX-101.DEF) — 287KB
• kos-20240930_lab.xml (EX-101.LAB) — 606KB
• kos-20240930_pre.xml (EX-101.PRE) — 477KB
• kos-20240930_htm.xml (XML) — 1937KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Glossary and Select Abbreviations 3

Financial Statements

Item 1. Financial Statements 7 Consolidated Balance Sheets 7 Consolidated Statements of Operations 8 Consolidated Statements of Stockholders' Equity 9 Consolidated Statements of Cash Flows 10

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 48

Controls and Procedures

Item 4. Controls and Procedures 50

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 51

Risk Factors

Item 1A. Risk Factors 51

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 51

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 51

Other Information

Item 5. Other Information 51

Exhibits

Item 6. Exhibits 52 Index to Exhibits 53 2 Table of Contents KOSMOS ENERGY LTD. GLOSSARY AND SELECTED ABBREVIATIONS The following are abbreviations and definitions of certain terms that may be used in this report. Unless listed below, all defined terms under Rule 4-10(a) of Regulation S-X shall have their statutorily prescribed meanings. "2D seismic data" Twodimensional seismic data, serving as interpretive data that allows a view of a vertical crosssection beneath a prospective area. "3D seismic data" Threedimensional seismic data, serving as geophysical data that depicts the subsurface strata in three dimensions. 3D seismic data typically provides a more detailed and accurate interpretation of the subsurface strata than 2D seismic data. "ANP-STP" Agencia Nacional Do Petroleo De Sao Tome E Principe. "API" A specific gravity scale, expressed in degrees, that denotes the relative density of various petroleum liquids. The scale increases inversely with density. Thus lighter petroleum liquids will have a higher API than heavier ones. "ASC" Financial Accounting Standards Board Accounting Standards Codification. "ASU" Financial Accounting Standards Board Accounting Standards Update. "Barrel" or "Bbl" A standard measure of volume for petroleum corresponding to approximately 42 gallons at 60 degrees Fahrenheit. "BBbl" Billion barrels of oil. "BBoe" Billion barrels of oil equivalent. "Bcf" Billion cubic feet. "Boe" Barrels of oil equivalent. Volumes of natural gas converted to barrels of oil using a conversion factor of 6,000 cubic feet of natural gas to one barrel of oil. "BOEM" Bureau of Ocean Energy Management. "Boepd" Barrels of oil equivalent per day. "Bopd" Barrels of oil per day. "BP" BP p.l.c. and related subsidiaries. "Bwpd" Barrels of water per day. "Corporate Revolver" Prior to March 31, 2022, this term refers to the Revolving Credit Facility Agreement dated November 23, 2012 (as amended or as amended and restated from time to time)

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) 1. Organization Kosmos Energy Ltd. is incorporated in the State of Delaware as a holding company for Kosmos Energy Delaware Holdings, LLC, a Delaware limited liability company. As a holding company, Kosmos Energy Ltd.'s management operations are conducted through a wholly-owned subsidiary, Kosmos Energy, LLC. The terms "Kosmos," the "Company," "we," "us," "our," "ours," and similar terms refer to Kosmos Energy Ltd. and its wholly-owned subsidiaries, unless the context indicates otherwise. Kosmos is a full-cycle, deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as world-class gas projects offshore Mauritania and Senegal. We also pursue a proven basin exploration program in Equatorial Guinea and the U.S. Gulf of Mexico. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. Kosmos is engaged in a single line of business, which is the exploration, development, and production of oil and natural gas. Substantially all of our long-lived assets and all of our product sales are related to operations in four geographic areas: Ghana, Equatorial Guinea, Mauritania/Senegal and the U.S. Gulf of Mexico. 2. Accounting Policies General The interim consolidated financial statements included in this report are unaudited and, in the opinion of management, include all adjustments of a normal recurring nature necessary for a fair presentation of the results for the interim periods. The results of the interim periods shown in this report are not necessarily indicative of the final results to be expected for the full year. The interim consolidated financial statements were prepared in accordance with the requirements of the SEC for interim reporting. As permitted under those rules, certain notes or other financial information t

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View this 10-Q filing on SEC EDGAR