Kosmos Energy cuts debt after $43m loss
Key points
- Kosmos Energy reported a $43 million third-quarter net loss, or $0.07 per diluted share, compared with $124 million a year earlier.
- Revenue increased to $410 million, production rose 6% to 69,200 barrels of oil equivalent per day, and net debt fell by more than $500 million.
- Kosmos expects year-end net debt below $2.4 billion after extending its $1.2 billion lending facility to April 2033.
Kosmos Energy (NYSE:KOS) reported a third-quarter 2026 net loss of $43 million, or $0.07 per diluted share, as higher production and lower operating expenses supported revenue growth and debt reduction.
The loss narrowed from $124 million, or $0.26 per diluted share, in the same quarter of 2025, while oil and gas revenue increased 32% to $410 million from $311 million.
The company generated approximately $164 million in operating cash flow and $90 million in free cash flow, while net debt declined by more than $500 million to approximately $2.47 billion at September 30, 2026.
Kosmos completed seven Jubilee drilling wells and the Tiberius farm-down, while extending its $1.2 billion reserve-based lending facility to April 2033.
The company expects year-end net debt below $2.4 billion, although fourth-quarter Gulf production faces planned maintenance and hurricane-related downtime.
The company operates offshore oil and gas assets in Ghana, Mauritania, Senegal and the Gulf of America, with the Jubilee field in Ghana and Greater Tortue Ahmeyim LNG project forming important parts of its production portfolio.
Kosmos is also advancing its Trailblazer exploration project with Shell, with drilling expected to begin in the first half of 2027, while planning up to 10 additional Jubilee wells from mid-2027.
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