Kosmos Energy reported an 18% year-over-year increase in first-half production and a 24% decline in absolute operating costs, while repaying about $420 million of debt. Second-quarter production rose approximately 12%, driven by new Jubilee wells in Ghana and the ramp-up of the Greater Tortue Ahmeyim LNG project, which lifted 18.5 gross LNG cargoes in the first half and maintained full-year guidance of 32 to 36 cargoes. The company expects Jubilee gross production to exceed 90,000 barrels per day once the J50 well starts, and it completed a farm-down of its Tiberius project, bringing in Navitas as a partner while targeting first oil in the second half of 2028. Kosmos ended the quarter with more than $500 million in liquidity and is targeting a roughly 20% net-debt reduction in 2026, with plans to amend and extend its reserve-based lending facility in the fourth quarter.
Kosmos Energy LtdReports 18% production rise, 24% cost decline, and $420M debt paydown, improving financials.
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