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
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· Webcast Conference Call Replay: A replay of the webcast will be available at investors.kosmosenergy.com for approximately 90 days following the event. Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in our Corporate Responsibility Report. For additional information, visit www.kosmosenergy.com.