22 February 2021 | 09:10am
StockMarketWire.com - Kosmos Energy swung to profit in the fourth quarter of 2020 as cost cuts offset a fall in revenue. The company, however, forecast a fall in annual production for 2021.
Production guidance for 2021 was in a range of 53,000 to 57,000 boepd with operation expenditure in the range of $14.50 to $16.50 per boe. That compared with annual output of about 60,800 boepd estimated for 2020.
For the quarter, the company generated a net income of $0.02 per diluted share, compared with a loss 9 cents a share on revenues of $274.2 million, down from 449.7 million.
Oil and as production fell to 103,850 barrels of oil from 136,294 barres
19 January 2021 | 10:06am
StockMarketWire.com - oil and gas exploration and production company Kosmos Energy announced an oil discovery in the US Gulf of Mexico at the Winterfell infrastructure-led exploration well.
The well encountered approximately 26 meters of net oil pay in two intervals, the company said.
Kosmos, which held a 17.5% working interest in the well, said it would now work with partners on an appraisal plan and development options.
The company also planned to drill the Zora ILX well in the Gulf of Mexico later in the year.
At 10:06am: [LON:KOS] Kosmos Energy Ltd share price was 0p at 89.25p