Kosmos swings to Q2 profit of USD 185 million; revenue rises to USD 607 million
KOS•Costs, production and cash flow
Production expense fell about 25% year over year to USD 179 million, while capital expenditure totaled USD 105 million.
GTA averaged about 2.65 mtpa gross in the quarter with nine gross LNG cargos lifted; two new Jubilee wells came online.
Net cash from operations was about USD 175 million; free cash flow (non-GAAP) was about USD 89 million, with net debt (non-GAAP) at about USD 2.56 billion.
Quarterly profit and revenue rise
Kosmos posted GAAP net income of USD 185 million, swinging from a loss, as revenue rose to USD 607 million.
Adjusted net income (non-GAAP) was USD 68 million; production climbed about 12% year over year to about 71,400 boepd.
