Kosmos Energy Ltd. has released its financial and operating results for the fourth quarter of 2025, revealing a net loss of $377 million, or $0.79 per diluted share. Adjusted for certain items, the company’s adjusted net loss for the quarter was $78 million, or $0.16 per diluted share. The company's net production for the quarter was approximately 67,900 barrels of oil equivalent per day (boepd), up approximately 4% versus the third quarter of 2025, with sales of around 62,900 boepd. Revenues for the quarter were reported as $295 million, or $50.88 per boe (excluding the impact of derivative cash settlements). Production expense was $151 million, with capital expenditures totaling $53 million and full year capital expenditures of $292 million.
In terms of reserves, at year-end 2025, Kosmos reported 1P reserves of approximately 250 mmboe and 2P reserves of around 500 mmboe, representing a 10-year 1P and 20-year 2P reserves life. The company also announced that it had raised $600 million in new capital over the past few months, while reducing its near-term bond maturities and creating additional liquidity.
In operational highlights, the company reported that GTA production averaged around 2.7 million tonnes per annum (mtpa) equivalent in December, with continued strong production into 2026, averaging approximately 2.9 mtpa equivalent year-to-date. The company also provided an update on its production in Mauritania, Senegal, Ghana, and Equatorial Guinea. Notably, the company's Jubilee drilling campaign continues to yield positive results, with the second well online, taking current gross Jubilee production above 70,000 bopd.
Additionally, Kosmos announced the sale of its subsidiary owning its participating interest in the Ceiba field and Okume complex located in Block G offshore Equatorial Guinea for up to $220 million, with proceeds expected to be used to reduce borrowings outstanding under the RBL.
The company provided financial updates, including the utilization of proceeds from a senior secured term loan facility to redeem all its outstanding 2026 senior unsecured notes, as well as the completion of a $350 million senior secured bond offering in the Nordic market. The company also reported that its liquidity at December 31, 2025, was approximately $342 million. Kosmos also provided information about its conference call and webcast to discuss the fourth quarter results.
Chairman and CEO Andrew G. Inglis commented on the company’s performance, expressing optimism for the year ahead and emphasizing the company’s focus on growing production, reducing costs, and maximizing cash flow to accelerate debt repayment.
The market has reacted to these announcements by moving the company's shares 1.6% to a price of $1.27. Check out the company's full 8-K submission here.
