Kosmos Energy Q1 Loss of $226M as Production Jumps 25%
KOS•Kosmos Energy reported a Q1 net loss of $226 million (45¢/share) and an adjusted loss of $36 million (7¢/share) on $371 million revenue, while production rose 25% to 74,800 boepd. The company cut production costs by 22%, secured $550 million financing and agreed to divest Equatorial Guinea assets for up to $220 million.
1. Q1 Financial Results
Kosmos reported a net loss of $226 million ($0.45 per share) for Q1 on revenues of $371 million. Adjusted loss totaled $36 million ($0.07 per share) after excluding non-recurring items.
2. Production and Cost Improvements
Net production averaged 74,800 boepd, a 25% increase from Q1 2025, driven by ramp-up at Greater Tortue Ahmeyim and new wells at Jubilee. Production expenses fell 22% to $131 million ($19.66 per boe), reflecting cost efficiency measures.
3. Financing and Asset Disposals
The company secured $350 million of senior secured bonds and raised $200 million of equity, using proceeds to accelerate debt repayment. It also agreed to sell its Equatorial Guinea interests for up to $220 million, targeting further balance-sheet improvement.
