10-Q Filing

KOSMOS ENERGY LTD. CIK: 1509991 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-034604`
Period End Date	20140331
Filing Date	20140505
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	kos-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 42 Cash Flow Statement 60 Stockholders Equity 9 Comprehensive Income 8

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$24.98M	USD	Point-in-time
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$25.63M	USD	Point-in-time
Preference shares, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preference shares, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$528.03M	USD	Point-in-time
Preference shares, authorized shares	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$497.29M	USD	Point-in-time
Preference shares, authorized shares	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$598.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$515.16M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$20.14M	USD	Point-in-time
Preference shares, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$21.48M	USD	Point-in-time
Preference shares, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Joint interest billings	`OilAndGasJointInterestBillingReceivablesCurrent`	$102.84M	USD	Point-in-time
Joint interest billings	`OilAndGasJointInterestBillingReceivablesCurrent`	$19.93M	USD	Point-in-time
Common shares, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common shares, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common shares, issued shares	`CommonStockSharesIssued`	391.97M	shares	Point-in-time
Common shares, issued shares	`CommonStockSharesIssued`	392.03M	shares	Point-in-time
Oil sales	`AccountsReceivableNetCurrent`	$281.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.40M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.43M	shares	Point-in-time
Other	`OtherReceivablesNetCurrent`	$1.11M	USD	Point-in-time
Other	`OtherReceivablesNetCurrent`	$5.78M	USD	Point-in-time
Inventories	`InventoryNet`	$47.42M	USD	Point-in-time
Inventories	`InventoryNet`	$42.49M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$37.49M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$27.01M	USD	Point-in-time
Current deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$19.62M	USD	Point-in-time
Current deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$22.81M	USD	Point-in-time
Derivatives	`DerivativeAssetsCurrent`	$510.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$760.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$734.96M	USD	Point-in-time
Oil and gas properties, net	`OilAndGasPropertySuccessfulEffortMethodNet`	$1.51B	USD	Point-in-time
Oil and gas properties, net	`OilAndGasPropertySuccessfulEffortMethodNet`	$1.53B	USD	Point-in-time
Other property, net	`PropertyPlantAndEquipmentOtherNet`	$14.15M	USD	Point-in-time
Other property, net	`PropertyPlantAndEquipmentOtherNet`	$14.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.54B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.52B	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$35.25M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$31.50M	USD	Point-in-time
Deferred financing costs, net of accumulated amortization of $25,626 and $24,976 at March 31, 2014 and December 31, 2013, respectively	`DeferredFinanceCostsNoncurrentNet`	$55.22M	USD	Point-in-time
Deferred financing costs, net of accumulated amortization of $25,626 and $24,976 at March 31, 2014 and December 31, 2013, respectively	`DeferredFinanceCostsNoncurrentNet`	$40.11M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$16.29M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$17.98M	USD	Point-in-time
Total assets	`Assets`	$2.41B	USD	Point-in-time
Total assets	`Assets`	$2.35B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$94.17M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$150.52M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$115.21M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesCurrent`	$8.11M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesCurrent`	$9.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$219.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$262.19M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$900.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$800.00M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesNoncurrent`	$4.20M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesNoncurrent`	$3.81M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$39.60M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$40.64M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$205.51M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$170.23M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$16.09M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$20.53M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.07B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.13B	USD	Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Common shares, $0.01 par value; 2,000,000,000 authorized shares; 392,025,211 and 391,974,287 issued at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$3.92M	USD	Point-in-time
Common shares, $0.01 par value; 2,000,000,000 authorized shares; 392,025,211 and 391,974,287 issued at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$3.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.80B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.78B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-699.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-774.22M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$2.16M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$1.75M	USD	Point-in-time
Treasury stock, at cost, 4,426,769 and 4,400,135 shares at March 31, 2014 and December 31, 2013, respectively	`TreasuryStockValue`	$21.13M	USD	Point-in-time
Treasury stock, at cost, 4,426,769 and 4,400,135 shares at March 31, 2014 and December 31, 2013, respectively	`TreasuryStockValue`	$21.06M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$992.34M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.08B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.41B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.35B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Oil and gas revenue	`OilAndGasSalesRevenue`	$228.07M	USD	1 Quarter
Oil and gas revenue	`OilAndGasSalesRevenue`	$212.85M	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfProperty`	$23.77M	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$70.00K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$58.00K	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$439.00K	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$254.00K	USD	1 Quarter
Total revenues and other income	`Revenues`	$228.39M	USD	1 Quarter
Total revenues and other income	`Revenues`	$237.12M	USD	1 Quarter
Oil and gas production	`OilAndGasProductionExpense`	$16.32M	USD	1 Quarter
Oil and gas production	`OilAndGasProductionExpense`	$24.40M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$12.81M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$24.25M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$27.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$39.07M	USD	1 Quarter
Depletion and depreciation	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$58.65M	USD	1 Quarter
Depletion and depreciation	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$46.38M	USD	1 Quarter
Amortization-deferred financing costs	`AmortizationOfFinancingCosts`	$2.70M	USD	1 Quarter
Amortization-deferred financing costs	`AmortizationOfFinancingCosts`	$2.79M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.99M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.51M	USD	1 Quarter
Derivatives, net	`GainLossOnCommodityDerivativeInstrumentsNetPretax`	$-5.51M	USD	1 Quarter
Derivatives, net	`GainLossOnCommodityDerivativeInstrumentsNetPretax`	$2.03M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.90M	USD	1 Quarter
Other expenses, net	`NonoperatingIncomeExpense`	$-632.00K	USD	1 Quarter
Other expenses, net	`NonoperatingIncomeExpense`	$-1.28M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$111.37M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$164.21M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$125.75M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$64.19M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$50.78M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$44.09M	USD	1 Quarter
Net income	`ProfitLoss`	$20.09M	USD	1 Quarter
Net income	`ProfitLoss`	$74.97M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	377.83M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	375.28M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	381.47M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	375.65M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$20.09M	USD	1 Quarter
Net income	`ProfitLoss`	$74.97M	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$61.35M	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.16M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$30.27M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$20.91M	USD	1 Quarter
Unsuccessful well costs	`ResultsOfOperationsDryHoleCosts`	$-245.00K	USD	1 Quarter
Unsuccessful well costs	`ResultsOfOperationsDryHoleCosts`	$9.75M	USD	1 Quarter
Change in fair value of derivatives	`UnrealizedGainLossOnDerivatives`	$-534.00K	USD	1 Quarter
Change in fair value of derivatives	`UnrealizedGainLossOnDerivatives`	$810.00K	USD	1 Quarter
Cash settlements on derivatives	`CashSettlementsOnDerivatives`	$4.85M	USD	1 Quarter
Cash settlements on derivatives	`CashSettlementsOnDerivatives`	$1.55M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$18.94M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$17.90M	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfProperty`	$23.77M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.90M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.40M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$4.22M	USD	1 Quarter
Increase in receivables	`IncreaseDecreaseInReceivables`	$63.57M	USD	1 Quarter
Increase in receivables	`IncreaseDecreaseInReceivables`	$2.38M	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$-4.87M	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$-3.64M	USD	1 Quarter
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$298.00K	USD	1 Quarter
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.48M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-80.07M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.39M	USD	1 Quarter
Increase in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$17.86M	USD	1 Quarter
Increase in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$28.77M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$113.59M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$66.87M	USD	1 Quarter
Oil and gas assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$83.49M	USD	1 Quarter
Oil and gas assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$96.49M	USD	1 Quarter
Other property	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$814.00K	USD	1 Quarter
Other property	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$428.00K	USD	1 Quarter
Proceeds on sale of assets	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$34.58M	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-886.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$2.41M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-64.74M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-83.42M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$100.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$82.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$71.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$18.85M	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$1.24M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.32M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-118.92M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-17.88M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-70.08M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$528.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$497.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$598.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$515.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$528.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$497.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$598.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$515.16M	USD	Point-in-time
Interest	`InterestPaid`	$7.28M	USD	1 Quarter
Interest	`InterestPaid`	$6.58M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$4.30M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$20.43M	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$992.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$17.90M	USD	1 Quarter
Derivatives, net	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$406.00K	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$71.00K	USD	1 Quarter
Net income	`ProfitLoss`	$20.09M	USD	1 Quarter
Net income	`ProfitLoss`	$74.97M	USD	1 Quarter
Balance	`StockholdersEquity`	$992.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.08B	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$20.09M	USD	1 Quarter
Net income	`ProfitLoss`	$74.97M	USD	1 Quarter
Reclassification adjustments for derivative gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	$359.00K	USD	1 Quarter
Reclassification adjustments for derivative gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	$406.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-359.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-406.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$19.73M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$74.56M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.