Kosmos Announce Second Quarter 2020 Results

Kosmos Announce Second Quarter 2020 Results

Kosmos Energy Ltd. (NYSE: KOS) announced the Company generated a net loss of $199 million, or $0.49 per diluted share for the second quarter of 2020.


When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net loss(1) of $95 million or $0.23 per diluted share for the second quarter of 2020.


SECOND QUARTER 2020 HIGHLIGHTS


Net Production(2) – 60,100 barrels of oil equivalent per day (boepd) with sales of 67,100 boepd


Revenues – $127 million

Realized oil and gas revenues, including the impact of hedging program – $25.82 per boe


Production expense – $89 million, or $14.53 per boe


General and administrative expenses – $18 million, $10 million cash expense and $8 million non-cash equity-based compensation expense


Capital expenditure – $66 million


At quarter end, the Company was in a net underlift position of approximately 1.1 million barrels of oil.


[Read more…]


Kosmos Energy Completes Transaction with BP in Senegal | Energy | News

Source: Kosmos Energy


Report by: OGP/Segun Cole , Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook

Oil and Gas News Straight from the Source


Disclaimer
Most News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. OilAndGasPress welcomes all viewpoints. Should you wish to provide a different perspective on the above article, please email us info@OilAndGasPress.com

Information posted is accurate at the time of posting, but may be superseded by subsequent press releases

#FOLLOW US ON INSTAGRAM