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10-Q Filing

KOSMOS ENERGY LTD. CIK: 1509991 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001509991-22-000031
Period End Date 20220331
Filing Date 20220509
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance kos-20220331_htm.xml
Filing Contents
Balance Sheet 92 line items
Line Item Tag Value Unit Period
Deferred financing costs, accumulated amortization AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts $11.52M USD Point-in-time
Deferred financing costs, accumulated amortization AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts $19.91M 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 $131.62M USD Point-in-time
Preference shares, authorized shares (in shares) PreferredStockSharesAuthorized 200.00M shares Point-in-time
Preference shares, authorized shares (in shares) PreferredStockSharesAuthorized 200.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $337.83M USD Point-in-time
Preference shares, issued shares (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $59.14M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $42.97M USD Point-in-time
Preference shares, issued shares (in 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, net OilAndGasJointInterestBillingReceivablesCurrent $36.91M USD Point-in-time
Joint interest billings, net OilAndGasJointInterestBillingReceivablesCurrent $31.02M USD Point-in-time
Common shares, authorized shares (in shares) CommonStockSharesAuthorized 2.00B shares Point-in-time
Common shares, authorized shares (in shares) CommonStockSharesAuthorized 2.00B shares Point-in-time
Common shares, issued shares (in shares) CommonStockSharesIssued 496.15M shares Point-in-time
Oil sales AccountsReceivableNetCurrent $134.00M USD Point-in-time
Common shares, issued shares (in shares) CommonStockSharesIssued 499.53M shares Point-in-time
Oil sales AccountsReceivableNetCurrent $172.18M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 44.26M shares Point-in-time
Other OtherReceivablesNetCurrent $6.61M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 44.26M shares Point-in-time
Other OtherReceivablesNetCurrent $10.07M USD Point-in-time
Inventories InventoryNet $153.39M USD Point-in-time
Inventories InventoryNet $165.25M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $30.55M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $18.90M USD Point-in-time
Derivatives DerivativeAssetsCurrent $5.69M USD Point-in-time
Derivatives DerivativeAssetsCurrent - USD Point-in-time
Total current assets AssetsCurrent $541.95M USD Point-in-time
Total current assets AssetsCurrent $794.19M USD Point-in-time
Oil and gas properties, net OilAndGasPropertySuccessfulEffortMethodNet $4.18B USD Point-in-time
Oil and gas properties, net OilAndGasPropertySuccessfulEffortMethodNet $4.02B USD Point-in-time
Other property, net PropertyPlantAndEquipmentOtherNet $6.66M USD Point-in-time
Other property, net PropertyPlantAndEquipmentOtherNet $6.60M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $3.37B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $4.03B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $4.18B USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsNoncurrent $305.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsNoncurrent $305.00K USD Point-in-time
Long-term receivables OilAndGasJointInterestBillingReceivablesNoncurrent $191.15M USD Point-in-time
Long-term receivables OilAndGasJointInterestBillingReceivablesNoncurrent $168.99M USD Point-in-time
Deferred financing costs, net of accumulated amortization of $11,523 and $19,912 at March 31, 2022 and December 31, 2021, respectively DeferredFinanceCostsNoncurrentNet $1.09M USD Point-in-time
Deferred financing costs, net of accumulated amortization of $11,523 and $19,912 at March 31, 2022 and December 31, 2021, respectively DeferredFinanceCostsNoncurrentNet $6.19M USD Point-in-time
Derivatives DerivativeAssetsNoncurrent - USD Point-in-time
Derivatives DerivativeAssetsNoncurrent $1.03M USD Point-in-time
Other OtherAssets $20.87M USD Point-in-time
Other OtherAssets $21.14M USD Point-in-time
Total assets Assets $3.96B USD Point-in-time
Total assets Assets $5.02B USD Point-in-time
Total assets Assets $4.94B USD Point-in-time
Accounts payable AccountsPayableCurrent $184.40M USD Point-in-time
Accounts payable AccountsPayableCurrent $224.59M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $330.49M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $250.67M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $30.00M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $130.00M USD Point-in-time
Derivatives DerivativeLiabilitiesCurrent $248.02M USD Point-in-time
Derivatives DerivativeLiabilitiesCurrent $65.88M USD Point-in-time
Total current liabilities LiabilitiesCurrent $933.11M USD Point-in-time
Total current liabilities LiabilitiesCurrent $530.95M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $2.59B USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $2.39B USD Point-in-time
Derivatives DerivativeLiabilitiesNoncurrent $16.05M USD Point-in-time
Derivatives DerivativeLiabilitiesNoncurrent $6.30M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $321.42M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $322.24M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $580.61M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $711.04M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $248.22M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $250.39M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $3.88B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $3.55B USD Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2022 and December 31, 2021 PreferredStockValue - USD Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2022 and December 31, 2021 PreferredStockValue - USD Point-in-time
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 499,528,735 and 496,152,331 issued at March 31, 2022 and December 31, 2021, respectively CommonStockValue $5.00M USD Point-in-time
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 499,528,735 and 496,152,331 issued at March 31, 2022 and December 31, 2021, respectively CommonStockValue $4.96M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.47B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.48B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.71B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.71B USD Point-in-time
Treasury stock, at cost, 44,263,269 shares at March 31, 2022 and December 31, 2021, respectively TreasuryStockValue $237.01M USD Point-in-time
Treasury stock, at cost, 44,263,269 shares at March 31, 2022 and December 31, 2021, respectively TreasuryStockValue $237.01M USD Point-in-time
Total stockholders equity StockholdersEquity $529.24M USD Point-in-time
Total stockholders equity StockholdersEquity $440.15M USD Point-in-time
Total stockholders equity StockholdersEquity $536.32M USD Point-in-time
Total stockholders equity StockholdersEquity $356.79M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $4.94B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $5.02B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Oil and gas revenue Revenues $176.47M USD 1 Quarter
Oil and gas revenue Revenues $659.01M USD 1 Quarter
Gain on sale of assets GainLossOnSaleOfProperty - USD 1 Quarter
Gain on sale of assets GainLossOnSaleOfProperty $26.00K USD 1 Quarter
Other income, net OtherOperatingIncomeExpenseNet $70.00K USD 1 Quarter
Other income, net OtherOperatingIncomeExpenseNet $52.00K USD 1 Quarter
Total revenues and other income RevenueAndOtherIncome $176.57M USD 1 Quarter
Total revenues and other income RevenueAndOtherIncome $659.07M USD 1 Quarter
Oil and gas production OperatingCostsAndExpenses $45.75M USD 1 Quarter
Oil and gas production OperatingCostsAndExpenses $124.70M USD 1 Quarter
Facilities insurance modifications, net FacilitiesInsuranceModificationsExpenseIncome $7.14M USD 1 Quarter
Facilities insurance modifications, net FacilitiesInsuranceModificationsExpenseIncome $671.00K USD 1 Quarter
Exploration expenses ExplorationExpense $8.18M USD 1 Quarter
Exploration expenses ExplorationExpense $11.88M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $25.79M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $22.44M USD 1 Quarter
Depletion, depreciation and amortization ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion $158.97M USD 1 Quarter
Depletion, depreciation and amortization ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion $76.54M USD 1 Quarter
Interest and other financing costs, net InterestExpenseIncomeNet $33.14M USD 1 Quarter
Interest and other financing costs, net InterestExpenseIncomeNet $24.53M USD 1 Quarter
Derivatives, net GainLossOnCommodityDerivativeInstrumentsNetPretax $-102.46M USD 1 Quarter
Derivatives, net GainLossOnCommodityDerivativeInstrumentsNetPretax $-282.17M USD 1 Quarter
Other expenses, net OtherNonoperatingIncomeExpense $-3.47M USD 1 Quarter
Other expenses, net OtherNonoperatingIncomeExpense $-2.43M USD 1 Quarter
Total costs and expenses CostsAndExpenses $646.21M USD 1 Quarter
Total costs and expenses CostsAndExpenses $284.04M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-107.47M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $12.85M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $11.45M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-16.70M USD 1 Quarter
Net income (loss) NetIncomeLoss $1.40M USD 1 Quarter
Net income (loss) NetIncomeLoss $-90.77M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.22 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic - USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.22 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted - USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 454.10M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 407.37M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 469.16M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 407.37M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Cash settlements on commodity hedges derivatives CashSettlementsOnCommodityDerivativesNet $-83.60M USD 1 Quarter
Cash settlements on commodity hedges derivatives CashSettlementsOnCommodityDerivativesNet $-28.60M USD 1 Quarter
Net income (loss) NetIncomeLoss $1.40M USD 1 Quarter
Net income (loss) NetIncomeLoss $-90.77M USD 1 Quarter
Depletion, depreciation and amortization (including deferred financing costs) DepreciationDepletionAndAmortization $161.64M USD 1 Quarter
Depletion, depreciation and amortization (including deferred financing costs) DepreciationDepletionAndAmortization $79.11M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-85.79M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-22.08M USD 1 Quarter
Unsuccessful well costs and leasehold impairments ExplorationAbandonmentAndImpairmentExpense $1.47M USD 1 Quarter
Unsuccessful well costs and leasehold impairments ExplorationAbandonmentAndImpairmentExpense $2.40M USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives $-106.16M USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives $-290.81M USD 1 Quarter
Cash settlements on derivatives, net (including $(83.6) million and $(28.6) million on commodity hedges during 2022 and 2021) CashSettlementsOnDerivativesNet $-93.05M USD 1 Quarter
Cash settlements on derivatives, net (including $(83.6) million and $(28.6) million on commodity hedges during 2022 and 2021) CashSettlementsOnDerivativesNet $-33.00M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $8.28M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $8.39M USD 1 Quarter
Gain on sale of assets GainLossOnSaleOfProperty - USD 1 Quarter
Gain on sale of assets GainLossOnSaleOfProperty $26.00K USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-192.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $890.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $2.29M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $24.79M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $13.28M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $25.05M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $8.24M USD 1 Quarter
Increase in prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.41M USD 1 Quarter
Increase in prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $12.80M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $13.38M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $-32.73M USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $78.37M USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $-21.43M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $329.63M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-46.63M USD 1 Quarter
Oil and gas assets PaymentsToAcquireOilAndGasPropertyAndEquipment $108.83M USD 1 Quarter
Oil and gas assets PaymentsToAcquireOilAndGasPropertyAndEquipment $128.80M USD 1 Quarter
Proceeds on sale of assets ProceedsFromSaleOfOilAndGasPropertyAndEquipment $118.22M USD 1 Quarter
Proceeds on sale of assets ProceedsFromSaleOfOilAndGasPropertyAndEquipment $631.00K USD 1 Quarter
Notes receivable from partners PaymentsToAcquireNotesReceivable - USD 1 Quarter
Notes receivable from partners PaymentsToAcquireNotesReceivable $22.42M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $9.39M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-150.59M USD 1 Quarter
Borrowings under long-term debt ProceedsFromIssuanceOfOtherLongTermDebt - USD 1 Quarter
Borrowings under long-term debt ProceedsFromIssuanceOfOtherLongTermDebt $100.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfDebt $107.50M USD 1 Quarter
Payments on long-term debt RepaymentsOfDebt $350.00M USD 1 Quarter
Net proceeds from issuance of senior notes ProceedsFromIssuanceOfUnsecuredDebt $444.38M USD 1 Quarter
Net proceeds from issuance of senior notes ProceedsFromIssuanceOfUnsecuredDebt - USD 1 Quarter
Tax withholdings on restricted stock units PaymentsForTaxWithholdingsOnRestrictedStockUnits $2.75M USD 1 Quarter
Tax withholdings on restricted stock units PaymentsForTaxWithholdingsOnRestrictedStockUnits $1.02M USD 1 Quarter
Dividends PaymentsOfDividendsCommonStock $430.00K USD 1 Quarter
Dividends PaymentsOfDividendsCommonStock $642.00K USD 1 Quarter
Deferred financing costs PaymentsOfFinancingCosts $5.74M USD 1 Quarter
Deferred financing costs PaymentsOfFinancingCosts $1.03M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-116.63M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $191.89M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-5.32M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $222.38M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $144.44M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $149.76M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $397.28M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $174.90M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $144.44M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $149.76M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $397.28M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $174.90M USD Point-in-time
Interest, net of capitalized interest InterestPaidNet $33.59M USD 1 Quarter
Interest, net of capitalized interest InterestPaidNet $40.47M USD 1 Quarter
Income taxes, net of refund received IncomeTaxesPaidNet $12.95M USD 1 Quarter
Income taxes, net of refund received IncomeTaxesPaidNet $18.36M USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Balance at the beginning StockholdersEquity $529.24M USD Point-in-time
Balance at the beginning StockholdersEquity $440.15M USD Point-in-time
Balance at the beginning StockholdersEquity $536.32M USD Point-in-time
Balance at the beginning StockholdersEquity $356.79M USD Point-in-time
Dividends Dividends $-90.00K USD 1 Quarter
Dividends Dividends $-12.00K USD 1 Quarter
Equity-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.43M USD 1 Quarter
Equity-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.33M USD 1 Quarter
Restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Tax withholdings on restricted stock units TaxWithholdingsForShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsUsedToCoverEmployeeTaxes $2.75M USD 1 Quarter
Tax withholdings on restricted stock units TaxWithholdingsForShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsUsedToCoverEmployeeTaxes $1.02M USD 1 Quarter
Net income (loss) NetIncomeLoss $1.40M USD 1 Quarter
Net income (loss) NetIncomeLoss $-90.77M USD 1 Quarter
Balance at the end StockholdersEquity $529.24M USD Point-in-time
Balance at the end StockholdersEquity $440.15M USD Point-in-time
Balance at the end StockholdersEquity $536.32M USD Point-in-time
Balance at the end StockholdersEquity $356.79M USD Point-in-time

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

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