Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An update from Kosmos Energy ( (KOS) ) is now available.
Kosmos Energy reported a record quarterly net production of about 74,800 barrels of oil equivalent per day in the first quarter of 2026, up roughly 25% year on year, driven by the ramp-up of the Greater Tortue Ahmeyim LNG project and new wells at Ghana’s Jubilee field. Despite this operational strength and lower production expenses, the company posted a net loss of $226 million, or $36 million on an adjusted basis, as it continued to invest in growth projects and manage its balance sheet.
Management highlighted progress on its four stated 2026 goals: increasing production, cutting costs, reducing debt and advancing its growth portfolio with limited capital outlay. Kosmos reduced net debt by about 7% versus year-end 2025, raised approximately $550 million through a Nordic bond and an equity offering to refinance and repay borrowings, and maintained capital expenditure guidance at $350 million for the year.
Operationally, GTA Phase 1 production exceeded floating LNG nameplate capacity, with plans to cut operating costs per barrel by more than half and develop Phase 1+ to supply domestic gas markets in Mauritania and Senegal. In Ghana, new Jubilee wells are expected to add around 20,000 barrels per day gross by mid-2026, TEN operating costs should fall following the FPSO acquisition, and license extensions to 2040 underpin a larger drilling campaign from 2027.
In the Gulf of America, Kosmos took final investment decision on the Tiberius oil project with Occidental, aiming for first oil in 2028 while planning to farm down its stake to about 33% to manage capital exposure. The company also entered a strategic exploration alliance with Shell, reinforcing its infrastructure-led exploration strategy and deepening its future opportunity set in the region.
More about Kosmos Energy
Kosmos Energy is an independent oil and gas exploration and production company listed in New York and London, with core assets offshore Ghana, Mauritania and Senegal, and in the Gulf of America. The company focuses on deepwater oil and natural gas developments, including LNG projects such as Greater Tortue Ahmeyim, targeting premium international oil markets and infrastructure-led growth.
For an in-depth examination of KOS stock, go to TipRanks’ Overview page.