10-Q Filing

KOSMOS ENERGY LTD. CIK: 1509991 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001558370-16-005628`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	kos-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 37 Cash Flow Statement 59 Stockholders Equity 8 Comprehensive Income 7

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$8.47M	USD	Point-in-time
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$9.16M	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	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Preference shares, authorized shares	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$275.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$360.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$554.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$212.92M	USD	Point-in-time
Preference shares, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$28.53M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$28.56M	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
Common shares, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Joint interest billings	`OilAndGasJointInterestBillingReceivablesCurrent`	$65.68M	USD	Point-in-time
Common shares, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Joint interest billings	`OilAndGasJointInterestBillingReceivablesCurrent`	$67.20M	USD	Point-in-time
Oil sales	`AccountsReceivableNetCurrent`	$35.95M	USD	Point-in-time
Common shares, issued shares	`CommonStockSharesIssued`	393.90M	shares	Point-in-time
Common shares, issued shares	`CommonStockSharesIssued`	394.16M	shares	Point-in-time
Other	`OtherReceivablesNetCurrent`	$34.88M	USD	Point-in-time
Other	`OtherReceivablesNetCurrent`	$29.19M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	8.81M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	9.01M	shares	Point-in-time
Inventories	`InventoryNet`	$67.23M	USD	Point-in-time
Inventories	`InventoryNet`	$85.17M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$24.77M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$11.09M	USD	Point-in-time
Derivatives	`DerivativeAssetsCurrent`	$182.64M	USD	Point-in-time
Derivatives	`DerivativeAssetsCurrent`	$155.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$734.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$570.46M	USD	Point-in-time
Oil and gas properties, net	`OilAndGasPropertySuccessfulEffortMethodNet`	$2.53B	USD	Point-in-time
Oil and gas properties, net	`OilAndGasPropertySuccessfulEffortMethodNet`	$2.31B	USD	Point-in-time
Other property, net	`PropertyPlantAndEquipmentOtherNet`	$7.72M	USD	Point-in-time
Other property, net	`PropertyPlantAndEquipmentOtherNet`	$8.61M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.32B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.54B	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$7.31M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$7.33M	USD	Point-in-time
Long-term receivables - joint interest billings	`OilAndGasJointInterestBillingReceivablesNoncurrent`	$38.51M	USD	Point-in-time
Long-term receivables - joint interest billings	`OilAndGasJointInterestBillingReceivablesNoncurrent`	$37.69M	USD	Point-in-time
Deferred financing costs, net of accumulated amortization of $9,159 and $8,475 at March 31, 2016 and December 31, 2015, respectively	`DeferredFinanceCostsNoncurrentNet`	$7.99M	USD	Point-in-time
Deferred financing costs, net of accumulated amortization of $9,159 and $8,475 at March 31, 2016 and December 31, 2015, respectively	`DeferredFinanceCostsNoncurrentNet`	$7.30M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$33.21M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$30.87M	USD	Point-in-time
Derivatives	`DerivativeAssetsNoncurrent`	$40.67M	USD	Point-in-time
Derivatives	`DerivativeAssetsNoncurrent`	$59.86M	USD	Point-in-time
Other	`OtherAssets`	$3.44M	USD	Point-in-time
Total assets	`Assets`	$3.20B	USD	Point-in-time
Total assets	`Assets`	$3.23B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$237.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$295.69M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$159.90M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$142.10M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesCurrent`	$1.47M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$456.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$380.76M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$860.88M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.01B	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesNoncurrent`	$4.20M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesNoncurrent`	$12.38M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$45.12M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$43.94M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$497.89M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$502.19M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.94M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.60M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.58B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.42B	USD	Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 1, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 1, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common shares, $0.01 par value; 2,000,000,000 authorized shares; 394,163,942 and 393,902,643 issued at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$3.94M	USD	Point-in-time
Common shares, $0.01 par value; 2,000,000,000 authorized shares; 394,163,942 and 393,902,643 issued at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$3.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.93B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.94B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-623.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-564.69M	USD	Point-in-time
Treasury stock, at cost, 9,006,216 and 8,812,054 shares at March 31, 2016 and December 31, 2015, respectively	`TreasuryStockValue`	$47.42M	USD	Point-in-time
Treasury stock, at cost, 9,006,216 and 8,812,054 shares at March 31, 2016 and December 31, 2015, respectively	`TreasuryStockValue`	$46.93M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.33B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.28B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$3.20B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$3.23B	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Oil and gas revenue	`OilAndGasSalesRevenue`	$109.16M	USD	1 Quarter
Oil and gas revenue	`OilAndGasSalesRevenue`	$62.12M	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfProperty`	$22.75M	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$8.00K	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$642.00K	USD	1 Quarter
Total revenues and other income	`Revenues`	$132.56M	USD	1 Quarter
Total revenues and other income	`Revenues`	$62.13M	USD	1 Quarter
Oil and gas production	`OilAndGasProductionExpense`	$32.10M	USD	1 Quarter
Oil and gas production	`OilAndGasProductionExpense`	$29.39M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$98.94M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$23.86M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.92M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$38.67M	USD	1 Quarter
Depletion and depreciation	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$31.27M	USD	1 Quarter
Depletion and depreciation	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$37.01M	USD	1 Quarter
Interest and other financing costs, net	`InterestExpenseIncomeNet`	$10.32M	USD	1 Quarter
Interest and other financing costs, net	`InterestExpenseIncomeNet`	$10.75M	USD	1 Quarter
Derivatives, net	`GainLossOnCommodityDerivativeInstrumentsNetPretax`	$4.34M	USD	1 Quarter
Derivatives, net	`GainLossOnCommodityDerivativeInstrumentsNetPretax`	$32.33M	USD	1 Quarter
Other expenses, net	`NonoperatingIncomeExpense`	$-14.73M	USD	1 Quarter
Other expenses, net	`NonoperatingIncomeExpense`	$-628.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$123.15M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$185.77M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-53.21M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-61.02M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-2.02M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$25.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-58.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-78.91M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.21	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.21	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	380.36M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	384.44M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	380.36M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	384.44M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Cash settlements on derivatives (including $56.6 million and $51.3 million on commodity hedges during 2016 and 2015)	`CashSettlementsOnCommodityDerivatives`	$51.30M	USD	1 Quarter
Cash settlements on derivatives (including $56.6 million and $51.3 million on commodity hedges during 2016 and 2015)	`CashSettlementsOnCommodityDerivatives`	$56.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-58.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-78.91M	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.62M	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.82M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.78M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.95M	USD	1 Quarter
Unsuccessful well costs	`ResultsOfOperationsDryHoleCosts`	$2.22M	USD	1 Quarter
Unsuccessful well costs	`ResultsOfOperationsDryHoleCosts`	$83.63M	USD	1 Quarter
Change in fair value of derivatives	`UnrealizedGainLossOnDerivatives`	$2.38M	USD	1 Quarter
Change in fair value of derivatives	`UnrealizedGainLossOnDerivatives`	$34.98M	USD	1 Quarter
Cash settlements on derivatives (including $56.6 million and $51.3 million on commodity hedges during 2016 and 2015)	`CashSettlementsOnDerivatives`	$53.93M	USD	1 Quarter
Cash settlements on derivatives (including $56.6 million and $51.3 million on commodity hedges during 2016 and 2015)	`CashSettlementsOnDerivatives`	$56.90M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$10.63M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$25.18M	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfProperty`	$22.75M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-14.97M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.17M	USD	1 Quarter
Decrease in receivables	`IncreaseDecreaseInReceivables`	$-35.93M	USD	1 Quarter
Decrease in receivables	`IncreaseDecreaseInReceivables`	$-39.89M	USD	1 Quarter
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$18.44M	USD	1 Quarter
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$-2.24M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.67M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.40M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-58.50M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-58.29M	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-36.91M	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-36.45M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.62M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.98M	USD	1 Quarter
Oil and gas assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$226.57M	USD	1 Quarter
Oil and gas assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$184.90M	USD	1 Quarter
Other property	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$280.00K	USD	1 Quarter
Other property	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$47.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$12.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$59.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-226.63M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-185.24M	USD	1 Quarter
Borrowings under long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$150.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.07M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$148.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-148.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$148.93M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-194.37M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-62.09M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$275.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$360.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$554.83M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$212.92M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$275.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$360.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$554.83M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$212.92M	USD	Point-in-time
Interest	`InterestPaid`	$32.18M	USD	1 Quarter
Interest	`InterestPaid`	$14.61M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$2.73M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$10.00M	USD	1 Quarter
Conversion of joint interest billings receivable to long-term note receivable	`ConversionOfJointInterestBillingsReceivableFromCurrentToNoncurrent`	$3.42M	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.33B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.28B	USD	Point-in-time
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$10.68M	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-58.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-78.91M	USD	1 Quarter
Balance	`StockholdersEquity`	$1.33B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.28B	USD	Point-in-time

Comprehensive Income 7 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-58.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-78.91M	USD	1 Quarter
Reclassification adjustments for derivative gains included in net loss	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	-	USD	1 Quarter
Reclassification adjustments for derivative gains included in net loss	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	$194.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-194.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-58.99M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-79.10M	USD	1 Quarter

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