10-Q Filing

KOSMOS ENERGY LTD. CIK: 1509991 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-003748`
Period End Date	20170331
Filing Date	20170508
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	kos-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 37 Cash Flow Statement 59 Stockholders Equity 8

Balance Sheet 90 line items

Line Item	Tag	Value	Unit	Period
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$11.90M	USD	Point-in-time
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$11.21M	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`	$153.19M	USD	Point-in-time
Preference shares, authorized shares	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$194.06M	USD	Point-in-time
Preference shares, authorized shares	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$65.83M	USD	Point-in-time
Preference shares, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preference shares, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$24.51M	USD	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
Common shares, authorized shares	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Joint interest billings, net	`OilAndGasJointInterestBillingReceivablesCurrent`	$87.32M	USD	Point-in-time
Joint interest billings, net	`OilAndGasJointInterestBillingReceivablesCurrent`	$63.25M	USD	Point-in-time
Common shares, issued shares	`CommonStockSharesIssued`	396.82M	shares	Point-in-time
Oil sales	`AccountsReceivableNetCurrent`	$54.20M	USD	Point-in-time
Common shares, issued shares	`CommonStockSharesIssued`	395.86M	shares	Point-in-time
Oil sales	`AccountsReceivableNetCurrent`	$49.70M	USD	Point-in-time
Related party	`DueFromRelatedPartiesCurrent`	$21.98M	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	9.10M	shares	Point-in-time
Treasury stock shares	`TreasuryStockShares`	9.18M	shares	Point-in-time
Other	`OtherReceivablesNetCurrent`	$41.59M	USD	Point-in-time
Other	`OtherReceivablesNetCurrent`	$25.89M	USD	Point-in-time
Inventories	`InventoryNet`	$74.38M	USD	Point-in-time
Inventories	`InventoryNet`	$84.42M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$6.86M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$7.21M	USD	Point-in-time
Derivatives	`DerivativeAssetsCurrent`	$31.70M	USD	Point-in-time
Derivatives	`DerivativeAssetsCurrent`	$34.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$475.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$545.79M	USD	Point-in-time
Oil and gas properties, net	`OilAndGasPropertySuccessfulEffortMethodNet`	$2.70B	USD	Point-in-time
Oil and gas properties, net	`OilAndGasPropertySuccessfulEffortMethodNet`	$2.34B	USD	Point-in-time
Other property, net	`PropertyPlantAndEquipmentOtherNet`	$8.00M	USD	Point-in-time
Other property, net	`PropertyPlantAndEquipmentOtherNet`	$7.26M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.34B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.71B	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$133.89M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$44.51M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$54.63M	USD	Point-in-time
Long-term receivables - joint interest billings	`OilAndGasJointInterestBillingReceivablesNoncurrent`	$47.31M	USD	Point-in-time
Long-term receivables - joint interest billings	`OilAndGasJointInterestBillingReceivablesNoncurrent`	$45.66M	USD	Point-in-time
Deferred financing costs, net of accumulated amortization of $11,898 and $11,213 at March 31, 2017 and December 31, 2016, respectively	`DeferredFinanceCostsNoncurrentNet`	$5.25M	USD	Point-in-time
Deferred financing costs, net of accumulated amortization of $11,898 and $11,213 at March 31, 2017 and December 31, 2016, respectively	`DeferredFinanceCostsNoncurrentNet`	$4.56M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$37.83M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$39.59M	USD	Point-in-time
Derivatives	`DerivativeAssetsNoncurrent`	$8.03M	USD	Point-in-time
Derivatives	`DerivativeAssetsNoncurrent`	$3.81M	USD	Point-in-time
Other	`OtherAssets`	$10.21M	USD	Point-in-time
Other	`OtherAssets`	$14.53M	USD	Point-in-time
Total assets	`Assets`	$3.34B	USD	Point-in-time
Total assets	`Assets`	$3.18B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$217.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$220.63M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$129.71M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$118.11M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesCurrent`	$19.69M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesCurrent`	$8.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$344.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$370.02M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$1.17B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$1.32B	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesNoncurrent`	$14.12M	USD	Point-in-time
Derivatives	`DerivativeLiabilitiesNoncurrent`	$5.30M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$65.22M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$63.57M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$506.12M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$482.22M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$25.66M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.45M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.78B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.89B	USD	Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common shares, $0.01 par value; 2,000,000,000 authorized shares; 396,816,463 and 395,859,061 issued at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$3.97M	USD	Point-in-time
Common shares, $0.01 par value; 2,000,000,000 authorized shares; 396,816,463 and 395,859,061 issued at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$3.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.98B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.98B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-879.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-850.41M	USD	Point-in-time
Treasury stock, at cost, 9,175,328 and 9,101,395 shares at March 31, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$48.12M	USD	Point-in-time
Treasury stock, at cost, 9,175,328 and 9,101,395 shares at March 31, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$47.60M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.08B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.06B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$3.34B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$3.18B	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Oil and gas revenue	`OilAndGasSalesRevenue`	$103.43M	USD	1 Quarter
Oil and gas revenue	`OilAndGasSalesRevenue`	$62.12M	USD	1 Quarter
Other income, net	`OtherSalesRevenueNet`	$48.53M	USD	1 Quarter
Other income, net	`OtherSalesRevenueNet`	$8.00K	USD	1 Quarter
Total revenues and other income	`Revenues`	$62.13M	USD	1 Quarter
Total revenues and other income	`Revenues`	$151.97M	USD	1 Quarter
Oil and gas production	`OilAndGasProductionExpense`	$19.89M	USD	1 Quarter
Oil and gas production	`OilAndGasProductionExpense`	$29.39M	USD	1 Quarter
Facilities insurance modifications, net	`FacilitiesInsuranceModifications`	$2.57M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$23.86M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$105.71M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.92M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.79M	USD	1 Quarter
Depletion and depreciation	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$31.27M	USD	1 Quarter
Depletion and depreciation	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$34.98M	USD	1 Quarter
Interest and other financing costs, net	`InterestExpenseIncomeNet`	$10.32M	USD	1 Quarter
Interest and other financing costs, net	`InterestExpenseIncomeNet`	$16.79M	USD	1 Quarter
Derivatives, net	`GainLossOnCommodityDerivativeInstrumentsNetPretax`	$4.34M	USD	1 Quarter
Derivatives, net	`GainLossOnCommodityDerivativeInstrumentsNetPretax`	$37.86M	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-14.73M	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-762.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$158.63M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$123.15M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-61.02M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.66M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$22.18M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-2.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-58.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.84M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	384.44M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	387.31M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	387.31M	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, net (including $11.4 million and $56.6 million on commodity hedges during 2017 and 2016)	`CashSettlementsOnCommodityDerivatives`	$56.60M	USD	1 Quarter
Cash settlements on derivatives, net (including $11.4 million and $56.6 million on commodity hedges during 2017 and 2016)	`CashSettlementsOnCommodityDerivatives`	$11.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-58.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.84M	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$37.53M	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.82M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$22.13M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.95M	USD	1 Quarter
Unsuccessful well costs	`ResultsOfOperationsDryHoleCosts`	$88.00K	USD	1 Quarter
Unsuccessful well costs	`ResultsOfOperationsDryHoleCosts`	$2.22M	USD	1 Quarter
Change in fair value of derivatives	`UnrealizedGainLossOnDerivatives`	$38.18M	USD	1 Quarter
Change in fair value of derivatives	`UnrealizedGainLossOnDerivatives`	$2.38M	USD	1 Quarter
Cash settlements on derivatives, net (including $11.4 million and $56.6 million on commodity hedges during 2017 and 2016	`CashSettlementsOnDerivatives`	$11.15M	USD	1 Quarter
Cash settlements on derivatives, net (including $11.4 million and $56.6 million on commodity hedges during 2017 and 2016	`CashSettlementsOnDerivatives`	$56.90M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$10.63M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$9.83M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-621.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-14.97M	USD	1 Quarter
(Increase) decrease in receivables	`IncreaseDecreaseInReceivables`	$-39.89M	USD	1 Quarter
(Increase) decrease in receivables	`IncreaseDecreaseInReceivables`	$44.85M	USD	1 Quarter
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$-2.24M	USD	1 Quarter
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$10.04M	USD	1 Quarter
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-352.00K	USD	1 Quarter
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.67M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-58.50M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.90M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-36.91M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$12.73M	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`	$-30.38M	USD	1 Quarter
Oil and gas assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$31.81M	USD	1 Quarter
Oil and gas assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$226.57M	USD	1 Quarter
Other property	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$271.00K	USD	1 Quarter
Other property	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$47.00K	USD	1 Quarter
Proceeds on sale of assets	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$203.92M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$171.84M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-226.62M	USD	1 Quarter
Borrowings under long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$150.00M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$150.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.07M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.11M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-151.12M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$148.93M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`NetCashIncludingRestrictedCashProvidedByUsedInContinuingOperations`	$-9.66M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`NetCashIncludingRestrictedCashProvidedByUsedInContinuingOperations`	$-62.08M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$273.19M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$310.86M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$248.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$263.54M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$273.19M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$310.86M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$248.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCashAtCarryingValue`	$263.54M	USD	Point-in-time
Interest	`InterestPaid`	$14.61M	USD	1 Quarter
Interest	`InterestPaid`	$20.56M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$2.73M	USD	1 Quarter
Conversion of joint interest billings receivable to long-term note receivable	`ConversionOfJointInterestBillingsReceivableFromCurrentToNoncurrent`	$3.42M	USD	1 Quarter
Conversion of joint interest billings receivable to long-term note receivable	`ConversionOfJointInterestBillingsReceivableFromCurrentToNoncurrent`	$4.04M	USD	1 Quarter
Contribution to equity method investment	`ContributionOfOilAndGasPropertyToEquityMethodInvestment`	$133.89M	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.06B	USD	Point-in-time
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$10.07M	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-58.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.84M	USD	1 Quarter
Balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.06B	USD	Point-in-time

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