Kosmos Energy aims to reduce its leverage ratio to approximately two times by the end of 2026 while planning to drill up to ten new wells at the Jubilee field starting in mid-2027. During the second-quarter earnings call, Chairman and CEO Andrew Inglis said net debt has already fallen around 15 percent versus year-end 2025, and CFO Neal Shah added that with continued execution, leverage is expected to fall further towards two times by year-end. The company also completed a farm-down of its Tiberius project, bringing in Navitas as a 33.33 percent partner, and disclosed an implied gross valuation of around 250 million dollars as of January 1, 2026. On the operational side, Jubilee gross production is expected above 90,000 barrels of oil per day with the J50 well online, while full-year guidance remains unchanged at 70,000 to 80,000 barrels per day. Management acknowledged disappointment with drilling performance at Winterfell, where the number five well was temporarily abandoned due to casing issues, and said activity is paused to understand the problems before spending more capital. CFO Shah also noted that discussions with lending banks have begun to amend and extend the reserve-based lending facility, targeting a size of around 1.2 billion dollars, with the process expected to close during the fourth quarter.
Kosmos Energy LtdNet debt down 15%, leverage target 2x by 2026, farm-down and RBL amendment improve financial position.
United Community Banks, Inc.