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10-Q Filing

KOSMOS ENERGY LTD. CIK: 1509991 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001509991-23-000043
Period End Date 20230331
Filing Date 20230509
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance kos-20230331_htm.xml
Filing Contents
Balance Sheet 90 line items
Line Item Tag Value Unit Period
Deferred financing costs, accumulated amortization AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts $13.84M USD Point-in-time
Deferred financing costs, accumulated amortization AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts $13.26M 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
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 $183.41M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $128.43M USD Point-in-time
Preference shares, issued shares (in shares) PreferredStockSharesIssued 0.00 shares 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
Joint interest billings, net OilAndGasJointInterestBillingReceivablesCurrent $28.85M USD Point-in-time
Joint interest billings, net OilAndGasJointInterestBillingReceivablesCurrent $36.15M USD Point-in-time
Common shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common shares, authorized shares (in shares) CommonStockSharesAuthorized 2.00B shares Point-in-time
Oil sales AccountsReceivableNetCurrent $67.48M USD Point-in-time
Oil sales AccountsReceivableNetCurrent $57.95M USD Point-in-time
Common shares, authorized shares (in shares) CommonStockSharesAuthorized 2.00B shares Point-in-time
Other OtherReceivablesNetCurrent $15.90M USD Point-in-time
Common shares, issued shares (in shares) CommonStockSharesIssued 503.85M shares Point-in-time
Common shares, issued shares (in shares) CommonStockSharesIssued 500.16M shares Point-in-time
Other OtherReceivablesNetCurrent $23.40M USD Point-in-time
Inventories InventoryNet $163.86M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 44.26M shares Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 44.26M shares Point-in-time
Inventories InventoryNet $133.51M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $24.72M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $28.90M USD Point-in-time
Derivatives DerivativeAssetsCurrent $7.34M USD Point-in-time
Derivatives DerivativeAssetsCurrent $12.12M USD Point-in-time
Total current assets AssetsCurrent $468.72M USD Point-in-time
Total current assets AssetsCurrent $443.32M USD Point-in-time
Oil and gas properties, net OilAndGasPropertySuccessfulEffortMethodNet $3.84B USD Point-in-time
Oil and gas properties, net OilAndGasPropertySuccessfulEffortMethodNet $3.96B USD Point-in-time
Other property, net PropertyPlantAndEquipmentOtherNet $5.10M USD Point-in-time
Other property, net PropertyPlantAndEquipmentOtherNet $5.21M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $4.03B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $3.84B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $3.97B USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsNoncurrent $3.42M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsNoncurrent $3.42M USD Point-in-time
Long-term receivables OilAndGasJointInterestBillingReceivablesNoncurrent $256.25M USD Point-in-time
Long-term receivables OilAndGasJointInterestBillingReceivablesNoncurrent $235.70M USD Point-in-time
Deferred financing costs, net of accumulated amortization of $13,843 and $13,263 at March 31, 2023 and December 31, 2022, respectively DeferredFinanceCostsNoncurrentNet $4.64M USD Point-in-time
Deferred financing costs, net of accumulated amortization of $13,843 and $13,263 at March 31, 2023 and December 31, 2022, respectively DeferredFinanceCostsNoncurrentNet $4.06M USD Point-in-time
Derivatives DerivativeAssetsNoncurrent $1.94M USD Point-in-time
Derivatives DerivativeAssetsNoncurrent $1.73M USD Point-in-time
Other OtherAssets $23.14M USD Point-in-time
Other OtherAssets $22.99M USD Point-in-time
Total assets Assets $5.02B USD Point-in-time
Total assets Assets $4.70B USD Point-in-time
Total assets Assets $4.58B USD Point-in-time
Accounts payable AccountsPayableCurrent $273.19M USD Point-in-time
Accounts payable AccountsPayableCurrent $212.28M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $319.80M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $325.21M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $30.00M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $30.00M USD Point-in-time
Derivatives DerivativeLiabilitiesCurrent $6.77M USD Point-in-time
Derivatives DerivativeLiabilitiesCurrent $1.52M USD Point-in-time
Total current liabilities LiabilitiesCurrent $574.25M USD Point-in-time
Total current liabilities LiabilitiesCurrent $624.51M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $2.20B USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $2.19B USD Point-in-time
Derivatives DerivativeLiabilitiesNoncurrent - USD Point-in-time
Derivatives DerivativeLiabilitiesNoncurrent $778.00K USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $300.80M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $301.66M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $460.41M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $468.44M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $251.95M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $251.06M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $3.22B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $3.20B USD Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2023 and December 31, 2022 PreferredStockValue - USD Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2023 and December 31, 2022 PreferredStockValue - USD Point-in-time
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 503,852,313 and 500,161,421 issued at March 31, 2023 and December 31, 2022, respectively CommonStockValue $5.00M USD Point-in-time
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 503,852,313 and 500,161,421 issued at March 31, 2023 and December 31, 2022, respectively CommonStockValue $5.04M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.51B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.50B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.40B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.49B USD Point-in-time
Treasury stock, at cost, 44,263,269 shares at March 31, 2023 and December 31, 2022, respectively TreasuryStockValue $237.01M USD Point-in-time
Treasury stock, at cost, 44,263,269 shares at March 31, 2023 and December 31, 2022, respectively TreasuryStockValue $237.01M USD Point-in-time
Total stockholders equity StockholdersEquity $536.32M USD Point-in-time
Total stockholders equity StockholdersEquity $869.44M USD Point-in-time
Total stockholders equity StockholdersEquity $529.24M USD Point-in-time
Total stockholders equity StockholdersEquity $787.85M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $4.70B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $4.58B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Oil and gas revenue Revenues $394.24M USD 1 Quarter
Oil and gas revenue Revenues $659.01M USD 1 Quarter
Other income, net OtherOperatingIncomeExpenseNet $-373.00K USD 1 Quarter
Other income, net OtherOperatingIncomeExpenseNet $52.00K USD 1 Quarter
Total revenues and other income RevenueAndOtherIncome $659.07M USD 1 Quarter
Total revenues and other income RevenueAndOtherIncome $393.87M USD 1 Quarter
Oil and gas production OperatingCostsAndExpenses $83.94M USD 1 Quarter
Oil and gas production OperatingCostsAndExpenses $124.70M USD 1 Quarter
Facilities insurance modifications, net FacilitiesInsuranceModificationsExpenseIncome - USD 1 Quarter
Facilities insurance modifications, net FacilitiesInsuranceModificationsExpenseIncome $7.14M USD 1 Quarter
Exploration expenses ExplorationExpense $11.88M USD 1 Quarter
Exploration expenses ExplorationExpense $12.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $29.17M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $25.79M USD 1 Quarter
Depletion, depreciation and amortization ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion $109.37M USD 1 Quarter
Depletion, depreciation and amortization ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion $158.97M USD 1 Quarter
Interest and other financing costs, net InterestExpenseIncomeNet $33.14M USD 1 Quarter
Interest and other financing costs, net InterestExpenseIncomeNet $24.57M USD 1 Quarter
Derivatives, net GainLossOnCommodityDerivativeInstrumentsNetPretax $6.84M USD 1 Quarter
Derivatives, net GainLossOnCommodityDerivativeInstrumentsNetPretax $-282.17M USD 1 Quarter
Other expenses, net OtherNonoperatingIncomeExpense $-2.43M USD 1 Quarter
Other expenses, net OtherNonoperatingIncomeExpense $-2.03M USD 1 Quarter
Total costs and expenses CostsAndExpenses $646.21M USD 1 Quarter
Total costs and expenses CostsAndExpenses $254.24M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $139.63M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $12.85M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $11.45M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $56.32M USD 1 Quarter
Net income NetIncomeLoss $83.31M USD 1 Quarter
Net income NetIncomeLoss $1.40M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic - USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.18 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted - USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.17 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 454.10M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 458.32M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 479.33M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 469.16M shares 1 Quarter
Cash Flow Statement 64 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 $-4.20M USD 1 Quarter
Net income NetIncomeLoss $83.31M USD 1 Quarter
Net income NetIncomeLoss $1.40M USD 1 Quarter
Depletion, depreciation and amortization (including deferred financing costs) DepreciationDepletionAndAmortization $111.92M USD 1 Quarter
Depletion, depreciation and amortization (including deferred financing costs) DepreciationDepletionAndAmortization $161.64M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-8.03M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-85.79M USD 1 Quarter
Unsuccessful well costs and leasehold impairments ExplorationAbandonmentAndImpairmentExpense $1.30M USD 1 Quarter
Unsuccessful well costs and leasehold impairments ExplorationAbandonmentAndImpairmentExpense $2.40M USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives $2.34M USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives $-290.81M USD 1 Quarter
Cash settlements on derivatives, net (including $(4.2) million and $(83.6) million on commodity hedges during 2023 and 2022) CashSettlementsOnDerivativesNet $-93.05M USD 1 Quarter
Cash settlements on derivatives, net (including $(4.2) million and $(83.6) million on commodity hedges during 2023 and 2022) CashSettlementsOnDerivativesNet $-11.36M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $10.09M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $8.39M 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 $2.29M USD 1 Quarter
Other OtherNoncashIncomeExpense $2.27M USD 1 Quarter
(Increase) decrease in receivables IncreaseDecreaseInReceivables $-10.28M USD 1 Quarter
(Increase) decrease in receivables IncreaseDecreaseInReceivables $24.79M USD 1 Quarter
(Increase) in inventories IncreaseDecreaseInInventories $8.24M USD 1 Quarter
(Increase) in inventories IncreaseDecreaseInInventories $30.58M USD 1 Quarter
(Increase) in prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $12.80M USD 1 Quarter
(Increase) in prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.21M USD 1 Quarter
Increase in accounts payable IncreaseDecreaseInAccountsPayable $13.38M USD 1 Quarter
Increase in accounts payable IncreaseDecreaseInAccountsPayable $60.92M USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $-15.18M USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $78.37M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $203.85M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $329.63M USD 1 Quarter
Oil and gas assets PaymentsToAcquireOilAndGasEquipment $223.69M USD 1 Quarter
Oil and gas assets PaymentsToAcquireOilAndGasEquipment $108.83M USD 1 Quarter
Proceeds on sale of assets ProceedsFromSaleOfOilAndGasPropertyAndEquipment $118.22M USD 1 Quarter
Proceeds on sale of assets ProceedsFromSaleOfOilAndGasPropertyAndEquipment - USD 1 Quarter
Notes receivable from partners PaymentsToAcquireNotesReceivable - USD 1 Quarter
Notes receivable from partners PaymentsToAcquireNotesReceivable $15.67M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-239.36M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $9.39M USD 1 Quarter
Payments on long-term debt RepaymentsOfDebt $107.50M USD 1 Quarter
Payments on long-term debt RepaymentsOfDebt $7.50M USD 1 Quarter
Tax withholdings on restricted stock units PaymentsForTaxWithholdingsOnRestrictedStockUnits $11.81M USD 1 Quarter
Tax withholdings on restricted stock units PaymentsForTaxWithholdingsOnRestrictedStockUnits $2.75M USD 1 Quarter
Dividends PaymentsOfDividendsCommonStock $642.00K USD 1 Quarter
Dividends PaymentsOfDividendsCommonStock $165.00K USD 1 Quarter
Deferred financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Deferred financing costs PaymentsOfFinancingCosts $5.74M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-19.48M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-116.63M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $222.38M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-54.98M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $174.90M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $186.82M 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 $131.84M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $174.90M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $186.82M 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 $131.84M USD Point-in-time
Interest, net of capitalized interest InterestPaidNet $5.17M USD 1 Quarter
Interest, net of capitalized interest InterestPaidNet $40.47M USD 1 Quarter
Income taxes, net of refund received IncomeTaxesPaidNet $18.36M USD 1 Quarter
Income taxes, net of refund received IncomeTaxesPaidNet $50.78M USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Balance at the beginning StockholdersEquity $536.32M USD Point-in-time
Balance at the beginning StockholdersEquity $869.44M USD Point-in-time
Balance at the beginning StockholdersEquity $529.24M USD Point-in-time
Balance at the beginning StockholdersEquity $787.85M USD Point-in-time
Dividends AdjustmentsToAdditionalPaidInCapitalDividendAdjustment $12.00K USD 1 Quarter
Equity-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $10.09M USD 1 Quarter
Equity-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.43M 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 $11.81M USD 1 Quarter
Net income NetIncomeLoss $83.31M USD 1 Quarter
Net income NetIncomeLoss $1.40M USD 1 Quarter
Balance at the end StockholdersEquity $536.32M USD Point-in-time
Balance at the end StockholdersEquity $869.44M USD Point-in-time
Balance at the end StockholdersEquity $529.24M USD Point-in-time
Balance at the end StockholdersEquity $787.85M USD Point-in-time

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

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