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Highlights

  • Kosmos Energy posted a net loss of $111 million in Q1 2025
  • First-quarter revenues reached $290 million, with production expenses at $167 million
  • Export from the GTA project commenced in April 2025 with a second cargo currently loading

Kosmos Energy Ltd. (NYSE/LSE: KOS) has released its financial and operational results for the first quarter of 2025, reporting a net loss of $111 million, or $0.23 per diluted share. The company’s adjusted net loss for the quarter was $105 million, or $0.22 per diluted share, after accounting for specific items impacting the comparability of results.

The company reported net production of approximately 60,500 barrels of oil equivalent per day (boepd), with sales of around 49,600 boepd, which was underlifted by about 1.0 million barrels of oil equivalent. Revenue for the quarter was $290 million, equating to $65.27 per barrel of oil equivalent, excluding derivative cash settlements. Production expenses for the period totaled $167 million, with a significant portion of those expenses tied to the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project.

In addition to financial metrics, Kosmos Energy highlighted key operational developments. The company commenced export from the GTA project off the coasts of Mauritania and Senegal in April 2025, marking a significant milestone. A second cargo is currently being loaded, and production is expected to ramp up toward the project's capacity of 2.7 million tons per annum (mtpa).

Kosmos Energy also made progress in its Ghana operations, completing a 4D seismic survey over the Jubilee and TEN fields, which will assist in planning the 2026+ drilling campaign. Furthermore, the company successfully concluded a redetermination of its reserve-based lending facility (RBL), maintaining the $1.35 billion facility size, providing ample liquidity moving forward.