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.
Source: Kosmos Energy
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